Akamai Technologies Receives Average Rating of “Buy” from Brokerages (NASDAQ:AKAM)
Shares of Akamai Technologies (NASDAQ:AKAM) have received a consensus recommendation of “Buy” from the thirteen ratings firms that are currently covering the stock, AnalystRatingsNetwork reports. Three research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $64.88.
Akamai Technologies (NASDAQ:AKAM) opened at 60.42 on Wednesday. Akamai Technologies has a 52-week low of $43.74 and a 52-week high of $63.15. The stock has a 50-day moving average of $59.1 and a 200-day moving average of $57.70. The company has a market cap of $10.765 billion and a P/E ratio of 36.23.
Akamai Technologies (NASDAQ:AKAM) last released its earnings data on Wednesday, July 30th. The company reported $0.58 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.55 by $0.03. The company had revenue of $476.00 million for the quarter, compared to the consensus estimate of $472.90 million. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. Analysts expect that Akamai Technologies will post $2.34 EPS for the current fiscal year.
A number of analysts have recently weighed in on AKAM shares. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Akamai Technologies in a research note on Thursday, July 31st. They now have a $50.00 price target on the stock, up previously from $47.50. Analysts at Macquarie upgraded shares of Akamai Technologies from a “neutral” rating to an “outperform” rating in a research note on Thursday, July 24th. They now have a $70.00 price target on the stock, up previously from $59.00.
In other Akamai Technologies news, Insider Rick M. Mcconnell unloaded 2,500 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $60.00, for a total transaction of $150,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
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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