Akamai Technologies (NASDAQ:AKAM) had its price target increased by research analysts at Oppenheimer from $60.00 to $80.00 in a research note issued on Monday. The firm currently has an “outperform” rating on the technology infrastructure company’s stock. Oppenheimer’s price objective suggests a potential upside of 38.50% from the company’s previous close.
A number of other research firms also recently weighed in on AKAM. B. Riley upped their target price on Akamai Technologies from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Company set a $57.00 target price on Akamai Technologies and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Credit Suisse Group upped their target price on Akamai Technologies from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Nomura increased their price objective on Akamai Technologies from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Finally, Vetr upgraded Akamai Technologies from a “buy” rating to a “strong-buy” rating and set a $52.07 price objective for the company in a research report on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $61.19.
Akamai Technologies (NASDAQ AKAM) traded up $1.00 on Monday, reaching $57.76. The company’s stock had a trading volume of 10,669,101 shares, compared to its average volume of 2,211,574. The firm has a market capitalization of $9,770.22, a P/E ratio of 30.08, a price-to-earnings-growth ratio of 2.28 and a beta of 0.68. 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 has a 12-month low of $44.65 and a 12-month high of $71.64.
In other news, insider William Wheaton sold 10,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $49.81, for a total value of $498,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO F Thomson Leighton bought 17,537 shares of Akamai Technologies stock in a transaction dated Friday, December 15th. The stock was acquired at an average price of $57.01 per share, with a total value of $999,784.37. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 55,752 shares of company stock valued at $2,999,371 and sold 79,550 shares valued at $4,363,371. 3.20% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AKAM. Advisory Services Network LLC increased its stake in shares of Akamai Technologies by 9.0% in the second quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after acquiring an additional 168 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Akamai Technologies in the second quarter worth $117,000. BB&T Investment Services Inc. acquired a new position in shares of Akamai Technologies in the second quarter worth $119,000. FTB Advisors Inc. increased its stake in shares of Akamai Technologies by 2.4% in the second quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after acquiring an additional 59 shares during the last quarter. Finally, Tobam acquired a new position in shares of Akamai Technologies in the second quarter worth $153,000. Institutional investors own 86.56% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece was originally published by American Market News and is owned by of American Market News. If you are accessing this piece on another site, it was stolen and reposted in violation of United States and international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/12/18/akamai-technologies-akam-given-new-80-00-price-target-at-oppenheimer.html.
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.
