Zacks Reiterates “Neutral” Rating for Akamai Technologies (AKAM)
Akamai Technologies (NASDAQ:AKAM)‘s stock had its “neutral” rating restated by Zacks in a report released on Wednesday. They currently have a $63.00 price objective on the stock. Zacks‘s price target would indicate a potential upside of 3.81% from the company’s current price.
Shares of Akamai Technologies (NASDAQ:AKAM) traded up 1.57% on Wednesday, hitting $60.69. The stock had a trading volume of 2,729,346 shares. Akamai Technologies has a 52 week low of $42.40 and a 52 week high of $63.15. The stock has a 50-day moving average of $58.11 and a 200-day moving average of $55.22. The company has a market cap of $10.803 billion and a P/E ratio of 36.88.
Akamai Technologies (NASDAQ:AKAM) last released its earnings data on Thursday, May 1st. The company reported $0.58 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.04. The company had revenue of $454.00 million for the quarter, compared to the consensus estimate of $440.43 million. During the same quarter last year, the company posted $0.43 earnings per share. Akamai Technologies’s revenue was up 23.4% compared to the same quarter last year. On average, analysts predict that Akamai Technologies will post $2.29 earnings per share for the current fiscal year.
AKAM has been the subject of a number of other recent research reports. Analysts at B. Riley reiterated a “buy” rating on shares of Akamai Technologies in a research note on Wednesday, May 14th. They now have a $68.00 price target on the stock. Separately, analysts at Pacific Crest upgraded shares of Akamai Technologies from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 14th. They now have a $65.00 price target on the stock, up previously from $53.30. Finally, analysts at Macquarie raised their price target on shares of Akamai Technologies from $56.00 to $59.00 in a research note on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $63.79.
In other Akamai Technologies news, Director Paul Sagan sold 50,000 shares of Akamai Technologies stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $61.09, for a total transaction of $3,054,500.00. The sale was disclosed in a filing with the SEC, which is available at this link.
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 Zacks’ official website.
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