Robert W. Baird Begins Coverage on Akamai Technologies (AKAM)
Investment analysts at Robert W. Baird started coverage on shares of Akamai Technologies (NASDAQ:AKAM) in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating on the stock.
Akamai Technologies (NASDAQ:AKAM) traded up 0.12% on Tuesday, hitting $60.56. The stock had a trading volume of 665,413 shares. Akamai Technologies has a 52 week low of $43.74 and a 52 week high of $63.15. The stock’s 50-day moving average is $59.22 and its 200-day moving average is $57.88. The company has a market cap of $10.790 billion and a P/E ratio of 36.01.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Wednesday, July 30th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue 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.
In other Akamai Technologies news, Insider Rick M. Mcconnell sold 2,500 shares of the stock on the open market in a transaction that occurred on Monday, August 18th. The shares were 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 Securities & Exchange Commission, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. 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. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $64.88.
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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