Akamai Technologies (NASDAQ:AKAM) had its price target lifted by equities research analysts at Royal Bank of Canada to $70.00 in a research note issued on Wednesday, The Fly reports. The firm currently has a “sector perform” rating on the technology infrastructure company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 2.64% from the stock’s previous close.
A number of other equities analysts have also commented on AKAM. DA Davidson raised their price objective on shares of Akamai Technologies from $57.00 to $64.00 and gave the company a “neutral” rating in a research report on Wednesday. KeyCorp restated a “sell” rating and issued a $57.00 price objective on shares of Akamai Technologies in a research report on Wednesday. Citigroup raised their price objective on shares of Akamai Technologies to $80.00 and gave the company a “buy” rating in a research report on Wednesday. Nomura raised their price objective on shares of Akamai Technologies from $50.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Finally, Guggenheim set a $74.00 price objective on shares of Akamai Technologies and gave the company a “buy” rating in a research report on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $66.22.
Akamai Technologies (NASDAQ:AKAM) opened at $68.20 on Wednesday. The firm has a market cap of $10,770.00, a PE ratio of 38.13, a PEG ratio of 2.54 and a beta of 0.70. 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 $69.56.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, February 6th. The technology infrastructure company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The company had revenue of $663.50 million during the quarter, compared to analyst estimates of $649.08 million. During the same period last year, the business earned $0.72 earnings per share. Akamai Technologies’s revenue was up 7.7% compared to the same quarter last year. equities research analysts expect that Akamai Technologies will post 1.89 EPS for the current fiscal year.
In other Akamai Technologies news, insider William Wheaton sold 10,000 shares of Akamai Technologies stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $66.29, for a total transaction of $662,900.00. Following the transaction, the insider now directly owns 32,319 shares of the company’s stock, valued at $2,142,426.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO F Thomson Leighton purchased 18,545 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were acquired at an average cost of $53.91 per share, for a total transaction of $999,760.95. Following the completion of the purchase, the chief executive officer now directly owns 226,950 shares of the company’s stock, valued at approximately $12,234,874.50. The disclosure for this purchase can be found here. Insiders have sold 61,112 shares of company stock worth $3,562,575 over the last three months. Insiders own 3.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Legal & General Group Plc raised its stake in shares of Akamai Technologies by 3.9% during the third quarter. Legal & General Group Plc now owns 844,744 shares of the technology infrastructure company’s stock worth $41,155,000 after acquiring an additional 31,911 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Akamai Technologies by 2.4% in the third quarter. Parametric Portfolio Associates LLC now owns 312,087 shares of the technology infrastructure company’s stock worth $15,205,000 after buying an additional 7,327 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Akamai Technologies by 23.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 809,014 shares of the technology infrastructure company’s stock worth $39,416,000 after buying an additional 151,399 shares during the period. Carret Asset Management LLC increased its stake in shares of Akamai Technologies by 17.3% in the third quarter. Carret Asset Management LLC now owns 14,550 shares of the technology infrastructure company’s stock worth $709,000 after buying an additional 2,150 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in shares of Akamai Technologies in the third quarter worth $367,000. 86.52% of the stock is currently owned by hedge funds and other institutional investors.
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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.