Akamai Technologies, Inc. (AKAM) Given Hold Rating at Stifel Nicolaus
Akamai Technologies, Inc. (NASDAQ:AKAM)‘s stock had its “hold” rating reissued by Stifel Nicolaus in a research report issued on Thursday. They currently have a $56.00 price target on the technology infrastructure company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 20.15% from the stock’s previous close.
AKAM has been the topic of several other research reports. Vetr downgraded shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $52.07 price objective on the stock. in a report on Wednesday. Nomura assumed coverage on shares of Akamai Technologies in a report on Thursday, May 25th. They set a “neutral” rating and a $50.00 price objective on the stock. Cowen and Company restated a “hold” rating and set a $60.00 price objective on shares of Akamai Technologies in a report on Friday, July 28th. Robert W. Baird restated a “hold” rating and set a $52.00 price objective on shares of Akamai Technologies in a report on Friday, September 1st. Finally, BidaskClub downgraded shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $61.50.
Shares of Akamai Technologies (NASDAQ AKAM) traded down 0.15% during trading on Thursday, hitting $46.61. 1,106,545 shares of the stock traded hands. Akamai Technologies has a one year low of $44.65 and a one year high of $71.64. The company has a market cap of $7.99 billion, a PE ratio of 26.62 and a beta of 0.64. The firm has a 50 day moving average price of $46.46 and a 200-day moving average price of $52.84.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The company had revenue of $608.90 million for the quarter, compared to the consensus estimate of $604.51 million. During the same quarter in the previous year, the firm posted $0.64 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. Analysts anticipate that Akamai Technologies will post $2.52 earnings per share for the current fiscal year.
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In related news, Director Frederic V. Salerno bought 5,000 shares of Akamai Technologies stock in a transaction dated Thursday, July 27th. The shares were bought at an average cost of $46.83 per share, for a total transaction of $234,150.00. Following the completion of the transaction, the director now owns 62,192 shares of the company’s stock, valued at $2,912,451.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO F Thomson Leighton acquired 21,554 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was acquired at an average price of $46.91 per share, for a total transaction of $1,011,098.14. The disclosure for this purchase can be found here. Insiders have bought 46,371 shares of company stock worth $2,245,016 over the last quarter. 3.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cadence Capital Management LLC lifted its holdings in Akamai Technologies by 0.6% in the second quarter. Cadence Capital Management LLC now owns 4,733 shares of the technology infrastructure company’s stock valued at $236,000 after buying an additional 30 shares during the period. Cleararc Capital Inc. lifted its holdings in Akamai Technologies by 0.9% in the first quarter. Cleararc Capital Inc. now owns 4,248 shares of the technology infrastructure company’s stock valued at $254,000 after buying an additional 37 shares during the period. FTB Advisors Inc. lifted its holdings in Akamai Technologies by 2.4% in the second quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock valued at $125,000 after buying an additional 59 shares during the period. Advantus Capital Management Inc lifted its holdings in Akamai Technologies by 0.4% in the first quarter. Advantus Capital Management Inc now owns 17,334 shares of the technology infrastructure company’s stock valued at $1,035,000 after buying an additional 75 shares during the period. Finally, Trust Co lifted its holdings in Akamai Technologies by 2.1% in the first quarter. Trust Co now owns 4,447 shares of the technology infrastructure company’s stock valued at $266,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 84.45% of the company’s stock.
About Akamai Technologies
Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.
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