Akamai Technologies Given Consensus Recommendation of “Buy” by Brokerages (NASDAQ:AKAM)
Shares of Akamai Technologies (NASDAQ:AKAM) have received a consensus recommendation of “Buy” from the fourteen ratings firms that are presently covering the stock, StockRatingsNetwork reports. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $63.79.
AKAM has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Akamai Technologies in a research note on Wednesday, July 9th. They now have a $63.00 price target on the stock. Separately, 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. Finally, 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.
In other Akamai Technologies news, Director Paul Sagan unloaded 50,000 shares of the company’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $61.09, for a total value of $3,054,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Akamai Technologies (NASDAQ:AKAM) opened at 59.90 on Thursday. 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 $58.87 and a 200-day moving average of $55.44. The company has a market cap of $10.662 billion and a P/E ratio of 37.08.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly 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.
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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