Akamai Technologies (NASDAQ:AKAM) had its price target hoisted by equities research analysts at Nomura from $50.00 to $60.00 in a research note issued to investors on Friday. The firm presently has a “neutral” rating on the technology infrastructure company’s stock. Nomura’s price target suggests a potential downside of 8.70% from the company’s current price.
Several other equities research analysts also recently commented on the company. Wells Fargo & Co set a $57.00 target price on Akamai Technologies and gave the company a “hold” rating in a report on Tuesday, October 10th. B. Riley raised their target price on Akamai Technologies from $70.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 18th. Zacks Investment Research upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research note on Tuesday, January 2nd. DA Davidson set a $57.00 price objective on Akamai Technologies and gave the company a “hold” rating in a research note on Thursday, October 12th. Finally, Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $64.36.
Shares of Akamai Technologies (AKAM) traded down $1.84 during trading hours on Friday, hitting $65.72. The company had a trading volume of 1,496,195 shares, compared to its average volume of 1,930,000. The stock has a market cap of $11,120.00, a P/E ratio of 39.35, a P/E/G ratio of 2.71 and a beta of 0.70. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20. Akamai Technologies has a 1-year low of $44.65 and a 1-year high of $71.34.
Several institutional investors and hedge funds have recently modified their holdings of the company. First Trust Advisors LP grew its position 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 worth $241,610,000 after acquiring an additional 109,826 shares in the last quarter. Fairpointe Capital LLC grew its position 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 worth $160,001,000 after acquiring an additional 981,069 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its position 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 worth $81,984,000 after acquiring an additional 7,575 shares in the last quarter. Sterling Capital Management LLC grew its position 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 worth $70,144,000 after acquiring an additional 17,892 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Akamai Technologies in the 3rd quarter worth approximately $65,270,000. Institutional investors own 86.43% of the company’s stock.
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.
