Akamai Technologies Stock Rating Lowered by Macquarie (AKAM)
Akamai Technologies (NASDAQ:AKAM) was downgraded by equities research analysts at Macquarie to a “neutral” rating in a research note issued to investors on Thursday, AR Network reports.
A number of other analysts have also recently weighed in on AKAM. Analysts at DA Davidson upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, October 16th. They now have a $62.00 price target on the stock, up previously from $55.00. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Akamai Technologies in a research note to investors on Monday, October 7th. They now have a $63.00 price target on the stock. Finally, 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. Two equities research 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. The company has a consensus rating of “Buy” and a consensus target price of $50.56.
Akamai Technologies (NASDAQ:AKAM) opened at 51.87 on Thursday. Akamai Technologies has a 1-year low of $32.63 and a 1-year high of $51.32. The stock’s 50-day moving average is $47.21 and its 200-day moving average is $42.46. The company has a market cap of $9.241 billion and a price-to-earnings ratio of 37.86.
Akamai Technologies (NASDAQ:AKAM) last released its earnings data on Wednesday, October 23rd. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.46 by $0.04. The company had revenue of $396.00 million for the quarter, compared to the consensus estimate of $387.70 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. On average, analysts predict that Akamai Technologies will post $1.96 earnings per share for the current fiscal year.
Akamai Technologies, Inc (NASDAQ:AKAM) provides content delivery and cloud infrastructure services for the delivery of content and applications over the Internet.
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