A number of research firms have changed their ratings and price targets for Akamai Technologies (NASDAQ: AKAM):

  • 10/30/2017 – Akamai Technologies was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Akamai’s third-quarter 2017 benefited from strong media division traffic and growing adoption of cloud-based security solutions. Management is also optimistic about robust over-the top (OTT) content viewing. The acquisition of Nominum, which is expected to be completed in the later part of the year, is anticipated to benefit the company’s flagship Enterprise Threat Protector solution. However, top-line growth continues to be negatively impacted by lower revenues from the large Internet Platform group companies. Moreover, we expect the newly launched products to take some more time to generate meaningful growth. Additionally, the integration of SOASTA and Nominum is anticipated to negatively impact EBITDA margins in the near term. Notably, the company has underperformed the industry on a year-to-date basis.”
  • 10/27/2017 – Akamai Technologies had its “hold” rating reaffirmed by analysts at Cowen and Company. They now have a $59.00 price target on the stock.
  • 10/25/2017 – Akamai Technologies had its price target raised by analysts at Nomura from $47.00 to $50.00. They now have a “neutral” rating on the stock.
  • 10/25/2017 – Akamai Technologies had its price target raised by analysts at Credit Suisse Group from $50.00 to $55.00. They now have a “neutral” rating on the stock.
  • 10/25/2017 – Akamai Technologies had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $70.00 price target on the stock, up previously from $60.00. They wrote, “We believe the valuation discount as a result of recent issues should begin to narrow as the company makes progress on deal integration and Media stabilization. We raise our ’17/’18/’19 AEBITDA from $887MM/$914MM/$1,107MM to $923MM/$944MM/ $1,112MM. We increase our PT from $60.00 to $70.00 which is based on 10x 2019 AEBITDA (10x 2018 previously) which is a notable discount to comps at 14.0x and LLNW at 12.5x. Key Points Solid Q3 Beat.””
  • 10/25/2017 – Akamai Technologies had its “hold” rating reaffirmed by analysts at SunTrust Banks, Inc..
  • 10/25/2017 – Akamai Technologies had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $75.00 price target on the stock.
  • 10/25/2017 – Akamai Technologies had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $60.00 price target on the stock.
  • 10/25/2017 – Akamai Technologies had its “market perform” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $62.00 price target on the stock, up previously from $57.00. They wrote, “Sprint’s cash EBITDA of $1.84 billion was up 14% YOY, in line with our estimate, representing 23% EBITDA margin, which is still very low. Revenue declined 4%, a slight miss. Postpaid/prepaid additions were both a bit above forecast, a solid improvement in trends. Churn was stable at phone only of 1.6%, and is the most obvious area that can be improved. Sprint maintained its guidance. Network speeds are up 33% YOY. Sprint continues to roll out new small cell solutions, including Magic Box, which is bolstering its network.””
  • 10/16/2017 – Akamai Technologies was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Akamai's top-line growth continues to be negatively impacted by lower revenues from the large Internet Platform group companies. The newly launched products  will take some more time to generate meaningful growth. We note that the stock has underperformed the industry on a year-to-date basis. Moreover, estimates have been going down ahead of the company's Q3 earnings release. However, we believe Akamai is likely to benefit from the rising demand for cloud infrastructure solutions, security, mobile products and online video. Moreover, the expanding security portfolio including Kona Site Defender, Prolexic, Bot Manager and Web Application Protector is the key catalyst. The recently announced Nominum buyout will boost carrier and enterprise customer base in the long haul.”
  • 10/12/2017 – Akamai Technologies had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $66.00 price target on the stock. They wrote, “We believe the volatile CDN/Media segment will be ~20% of revenue by YE18, while the SaaS/ Security segment should be ~70% of revenue, growing in the low double digit range with industry leading margins.””
  • 10/12/2017 – Akamai Technologies was given a new $57.00 price target on by analysts at DA Davidson. They now have a “hold” rating on the stock.
  • 10/10/2017 – Akamai Technologies was given a new $57.00 price target on by analysts at Wells Fargo & Company. They now have a “hold” rating on the stock.
  • 10/6/2017 – Akamai Technologies had its “neutral” rating reaffirmed by analysts at Instinet. They now have a $47.00 price target on the stock.
  • 10/2/2017 – Akamai Technologies was upgraded by analysts at Guggenheim from a “neutral” rating to a “buy” rating. They now have a $54.00 price target on the stock, up previously from $53.00.

Shares of Akamai Technologies, Inc. (AKAM) traded up $0.23 during trading hours on Wednesday, hitting $53.75. The stock had a trading volume of 1,682,700 shares, compared to its average volume of 2,179,156. The company has a market capitalization of $9,140.00, a P/E ratio of 27.88, a P/E/G ratio of 2.13 and a beta of 0.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.01 and a current ratio of 3.01. Akamai Technologies, Inc. has a 1 year low of $44.65 and a 1 year high of $71.64.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $621.00 million for the quarter, compared to the consensus estimate of $610.66 million. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.68 earnings per share. sell-side analysts expect that Akamai Technologies, Inc. will post 1.88 EPS for the current year.

In other news, insider William Wheaton sold 10,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $49.81, for a total transaction of $498,100.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Blumofe sold 4,000 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $53.11, for a total value of $212,440.00. Following the transaction, the executive vice president now directly owns 22,364 shares in the company, valued at $1,187,752.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,438 shares of company stock worth $1,463,695. Corporate insiders own 3.20% of the company’s stock.

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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