Akamai Technologies Receives “Outperform” Rating from Zacks (AKAM)
Akamai Technologies (NASDAQ:AKAM)‘s stock had its “outperform” rating restated by Zacks in a research note issued on Monday, AnalystRatings.NET reports. They currently have a $63.00 price target on the stock. Zacks‘ target price would indicate a potential upside of 20.41% from the stock’s previous close.
Akamai Technologies (NASDAQ:AKAM) traded down 0.44% during mid-day trading on Monday, hitting $52.09. 769,862 shares of the company’s stock traded hands. Akamai Technologies has a one year low of $32.63 and a one year high of $53.20. The stock’s 50-day moving average is $49.48 and its 200-day moving average is $44.16. The company has a market cap of $9.280 billion and a P/E ratio of 38.19.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Wednesday, July 24th. The company reported $0.46 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.46. The company had revenue of $378.10 million for the quarter, compared to the consensus estimate of $374.31 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. On average, analysts predict that Akamai Technologies will post $1.97 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at B. Riley downgraded shares of Akamai Technologies from a “buy” rating to a “neutral” rating in a research note to investors on Friday, September 27th. They now have a $55.00 price target on the stock. Separately, analysts at Macquarie reiterated an “outperform” rating on shares of Akamai Technologies in a research note to investors on Thursday, September 19th. They now have a $53.00 price target on the stock, up previously from $50.00. Finally, analysts at Oppenheimer raised their price target on shares of Akamai Technologies from $52.00 to $60.00 in a research note to investors on Wednesday, September 18th. They now have an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Akamai Technologies currently has a consensus rating of “Buy” and a consensus target price of $50.00.
Akamai Technologies, Inc (NASDAQ:AKAM) provides content delivery and cloud infrastructure services for the delivery of content and applications over the Internet.
To view Zacks’ full report, visit www.zacks.com
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