Guggenheim Analysts Give Akamai Technologies (AKAM) a $74.00 Price Target

Akamai Technologies (NASDAQ:AKAM) received a $74.00 target price from investment analysts at Guggenheim in a research report issued on Tuesday. The brokerage presently has a “buy” rating on the technology infrastructure company’s stock. Guggenheim’s price objective indicates a potential upside of 11.18% from the stock’s current price.

Several other research analysts have also recently commented on AKAM. BidaskClub raised Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. B. Riley reissued a “buy” rating and set a $70.00 target price (up from $60.00) on shares of Akamai Technologies in a research note on Wednesday, October 25th. Vetr cut Akamai Technologies from a “buy” rating to a “hold” rating and set a $68.08 target price for the company. in a research note on Monday, January 22nd. Instinet reissued a “neutral” rating and set a $47.00 target price on shares of Akamai Technologies in a research note on Friday, October 6th. Finally, SunTrust Banks reissued a “hold” rating on shares of Akamai Technologies in a research note on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Akamai Technologies has a consensus rating of “Hold” and a consensus target price of $63.96.

Akamai Technologies (NASDAQ:AKAM) traded down $0.69 on Tuesday, reaching $66.56. The company had a trading volume of 1,878,580 shares, compared to its average volume of 2,680,000. Akamai Technologies has a 1 year low of $44.65 and a 1 year high of $71.34. The firm has a market cap of $11,260.00, a PE ratio of 39.86, a price-to-earnings-growth ratio of 2.73 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.

In other news, insider William Wheaton sold 10,000 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $66.29, for a total value of $662,900.00. Following the completion of the sale, the insider now directly owns 32,319 shares of the company’s stock, valued at approximately $2,142,426.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO F Thomson Leighton bought 18,545 shares of Akamai Technologies stock in a transaction dated Wednesday, November 15th. The stock was purchased at an average cost of $53.91 per share, with a total value of $999,760.95. Following the completion of the acquisition, the chief executive officer now directly owns 226,950 shares in the company, valued at approximately $12,234,874.50. The disclosure for this purchase can be found here. Insiders have sold a total of 61,112 shares of company stock valued at $3,562,575 over the last ninety days. 3.20% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. First Trust Advisors LP lifted its holdings in shares of Akamai Technologies by 2.3% in the 3rd quarter. First Trust Advisors LP now owns 4,959,149 shares of the technology infrastructure company’s stock valued at $241,610,000 after purchasing an additional 109,826 shares during the last quarter. Fairpointe Capital LLC lifted its holdings in shares of Akamai Technologies by 44.0% in the 2nd 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 during the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Akamai Technologies by 0.5% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,645,925 shares of the technology infrastructure company’s stock valued at $81,984,000 after purchasing an additional 7,575 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Akamai Technologies by 1.3% in the 3rd quarter. Sterling Capital Management LLC now owns 1,439,744 shares of the technology infrastructure company’s stock valued at $70,144,000 after purchasing an additional 17,892 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Akamai Technologies in the 3rd quarter valued at about $65,270,000. 86.43% of the stock is owned by institutional investors and hedge funds.

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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.