Akamai Technologies, Inc. (NASDAQ:AKAM) has been given a $57.00 price target by investment analysts at DA Davidson in a note issued to investors on Thursday. The brokerage presently has a “hold” rating on the technology infrastructure company’s stock. DA Davidson’s price objective suggests a potential upside of 12.83% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on AKAM. BidaskClub upgraded Akamai Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $46.00 price target (down from $52.00) on shares of Akamai Technologies in a report on Friday, June 30th. Deutsche Bank AG restated a “buy” rating and set a $70.00 price target (down from $73.00) on shares of Akamai Technologies in a report on Monday, July 17th. Cowen and Company restated a “hold” rating and set a $61.00 price target on shares of Akamai Technologies in a report on Friday, July 21st. Finally, Piper Jaffray Companies restated a “buy” rating and set a $57.00 price target on shares of Akamai Technologies in a report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company. Akamai Technologies presently has a consensus rating of “Hold” and a consensus price target of $59.64.

Akamai Technologies (NASDAQ:AKAM) remained flat at $50.52 on Thursday. The company had a trading volume of 1,171,001 shares. Akamai Technologies has a 12 month low of $44.65 and a 12 month high of $71.64. The firm’s 50 day moving average is $47.86 and its 200 day moving average is $50.74. The firm has a market capitalization of $8.66 billion, a PE ratio of 28.85 and a beta of 0.65.

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

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In other Akamai Technologies news, CEO F Thomson Leighton bought 19,817 shares of the firm’s stock in a transaction dated Friday, July 14th. The stock was purchased at an average cost of $50.45 per share, with a total value of $999,767.65. Following the transaction, the chief executive officer now directly owns 205,861 shares in the company, valued at approximately $10,385,687.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frederic V. Salerno bought 5,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were acquired 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 in the company, valued at $2,912,451.36. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 46,371 shares of company stock valued at $2,245,016. Insiders own 3.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Perigon Wealth Management LLC increased its position in shares of Akamai Technologies by 9.5% during the 2nd quarter. Perigon Wealth Management LLC now owns 17,896 shares of the technology infrastructure company’s stock valued at $891,000 after purchasing an additional 1,550 shares during the last quarter. Griffin Asset Management Inc. purchased a new stake in shares of Akamai Technologies during the 2nd quarter valued at $209,000. Sentry Investment Management LLC increased its position in shares of Akamai Technologies by 50.3% during the 2nd quarter. Sentry Investment Management LLC now owns 13,629 shares of the technology infrastructure company’s stock valued at $679,000 after purchasing an additional 4,564 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Akamai Technologies by 25.3% during the 2nd quarter. Toronto Dominion Bank now owns 58,568 shares of the technology infrastructure company’s stock valued at $2,917,000 after purchasing an additional 11,830 shares during the last quarter. Finally, Advisory Services Network LLC increased its position in shares of Akamai Technologies by 9.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock valued at $101,000 after purchasing an additional 168 shares during the last quarter. 84.49% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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