Akamai Technologies, Inc. (NASDAQ:AKAM) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday. They presently have a $52.07 price target on the technology infrastructure company’s stock. Vetr‘s price objective indicates a potential upside of 9.99% from the stock’s current price.

AKAM has been the subject of several other reports. B. Riley reaffirmed a “buy” rating and issued a $66.00 price target on shares of Akamai Technologies in a report on Sunday, June 11th. Instinet initiated coverage on shares of Akamai Technologies in a report on Thursday, May 25th. They issued a “neutral” rating and a $47.62 price target for the company. Nomura initiated coverage on shares of Akamai Technologies in a research note on Thursday, May 25th. They set a “neutral” rating and a $50.00 target price for the company. Piper Jaffray Companies reissued a “buy” rating and set a $57.00 target price on shares of Akamai Technologies in a research note on Wednesday, July 26th. Finally, BidaskClub lowered shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $61.50.

Akamai Technologies (NASDAQ AKAM) traded up 1.59% during trading on Wednesday, reaching $47.34. 2,697,554 shares of the company’s stock traded hands. Akamai Technologies has a 1-year low of $44.65 and a 1-year high of $71.64. The stock has a 50-day moving average price of $46.50 and a 200 day moving average price of $52.73. The stock has a market capitalization of $8.12 billion, a P/E ratio of 26.75 and a beta of 0.64.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The company had revenue of $608.90 million during the quarter, compared to analyst estimates of $604.51 million. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. Equities research analysts expect that Akamai Technologies will post $2.52 earnings per share for the current year.

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In related news, Director Frederic V. Salerno acquired 5,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were purchased at an average cost of $46.83 per share, with a total value of $234,150.00. Following the completion of the transaction, the director now owns 62,192 shares of the company’s stock, valued at approximately $2,912,451.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO F Thomson Leighton acquired 19,817 shares of the stock in a transaction that occurred on Friday, July 14th. The shares were bought at an average cost of $50.45 per share, for a total transaction of $999,767.65. Following the completion of the transaction, the chief executive officer now directly owns 205,861 shares of the company’s stock, valued at approximately $10,385,687.45. The disclosure for this purchase can be found here. Insiders have purchased 46,371 shares of company stock worth $2,245,016 over the last ninety days. 3.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Akamai Technologies by 2.6% during the second quarter. Vanguard Group Inc. now owns 16,562,553 shares of the technology infrastructure company’s stock valued at $824,981,000 after purchasing an additional 424,152 shares in the last quarter. Clearbridge Investments LLC grew its position in Akamai Technologies by 13.1% during the first quarter. Clearbridge Investments LLC now owns 6,177,452 shares of the technology infrastructure company’s stock valued at $368,794,000 after purchasing an additional 717,811 shares in the last quarter. First Trust Advisors LP grew its position in Akamai Technologies by 41.8% during the second quarter. First Trust Advisors LP now owns 4,849,323 shares of the technology infrastructure company’s stock valued at $241,545,000 after purchasing an additional 1,428,886 shares in the last quarter. Ameriprise Financial Inc. grew its position in Akamai Technologies by 29.7% during the first quarter. Ameriprise Financial Inc. now owns 3,405,774 shares of the technology infrastructure company’s stock valued at $203,324,000 after purchasing an additional 780,019 shares in the last quarter. Finally, Fairpointe Capital LLC grew its position in Akamai Technologies by 44.0% during the second quarter. Fairpointe Capital LLC now owns 3,212,227 shares of the technology infrastructure company’s stock valued at $160,001,000 after purchasing an additional 981,069 shares in the last quarter. 84.45% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Company Profile

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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