Akamai Technologies (AKAM) PT Raised to $65.00 at MKM Partners

Akamai Technologies (NASDAQ:AKAM) had its price objective increased by research analysts at MKM Partners to $65.00 in a report released on Friday. The brokerage presently has a “buy” rating on the technology infrastructure company’s stock. MKM Partners’ target price points to a potential upside of 16.51% from the stock’s previous close.

AKAM has been the subject of a number of 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 for the company. in a research report on Wednesday, September 13th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $60.00 price objective on shares of Akamai Technologies in a research report on Wednesday, October 25th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $62.00 price objective (up previously from $57.00) on shares of Akamai Technologies in a research report on Wednesday, October 25th. Cowen reaffirmed a “hold” rating and set a $59.00 price objective on shares of Akamai Technologies in a research report on Friday, October 27th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $52.00 price objective on shares of Akamai Technologies in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $60.64.

Akamai Technologies (NASDAQ AKAM) traded up $0.01 on Friday, hitting $55.79. 2,329,258 shares of the stock traded hands, compared to its average volume of 2,185,041. The company has a market cap of $9,430.00, a P/E ratio of 28.83, a P/E/G ratio of 2.19 and a beta of 0.66. Akamai Technologies has a one year low of $44.65 and a one year high of $71.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.01 and a quick ratio of 3.01.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.03. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The company had revenue of $621.00 million during the quarter, compared to the consensus estimate of $610.66 million. During the same quarter in the previous year, the firm earned $0.68 EPS. The company’s revenue was up 6.3% on a year-over-year basis. sell-side analysts expect that Akamai Technologies will post 1.89 earnings per share for the current year.

In related news, CEO F Thomson Leighton purchased 18,545 shares of Akamai Technologies stock in a transaction dated Wednesday, November 15th. The stock was bought at an average cost of $53.91 per share, with a total value of $999,760.95. Following the purchase, the chief executive officer now owns 226,950 shares in the company, valued at approximately $12,234,874.50. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Rick M. Mcconnell sold 2,743 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $55.00, for a total transaction of $150,865.00. Following the completion of the sale, the insider now directly owns 37,010 shares of the company’s stock, valued at $2,035,550. The disclosure for this sale can be found here. Insiders have sold a total of 31,181 shares of company stock valued at $1,614,560 over the last three months. 3.20% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of the company. Cadence Capital Management LLC lifted its stake in shares of Akamai Technologies by 0.6% in the 2nd quarter. Cadence Capital Management LLC now owns 4,733 shares of the technology infrastructure company’s stock worth $236,000 after acquiring an additional 30 shares during the period. FTB Advisors Inc. raised its holdings in shares of Akamai Technologies by 2.4% in the 2nd quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after purchasing an additional 59 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Akamai Technologies by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the technology infrastructure company’s stock worth $533,000 after purchasing an additional 100 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of Akamai Technologies by 9.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after purchasing an additional 168 shares in the last quarter. Finally, Opes Advisors Inc raised its holdings in shares of Akamai Technologies by 5.1% in the 2nd quarter. Opes Advisors Inc now owns 5,509 shares of the technology infrastructure company’s stock worth $253,000 after purchasing an additional 267 shares in the last quarter. 86.57% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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