Deutsche Bank AG reiterated their buy rating on shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in a research report report published on Monday morning. Deutsche Bank AG currently has a $70.00 target price on the technology infrastructure company’s stock, down from their prior target price of $73.00.
A number of other brokerages have also recently issued reports on AKAM. Drexel Hamilton began coverage on shares of Akamai Technologies in a report on Tuesday, March 21st. They issued a buy rating and a $90.00 target price for the company. DA Davidson cut shares of Akamai Technologies from a buy rating to a neutral rating and set a $57.00 target price for the company. in a report on Wednesday, May 3rd. Royal Bank Of Canada reaffirmed a sector perform rating and issued a $58.00 target price (down from $65.00) on shares of Akamai Technologies in a report on Wednesday, May 3rd. Stifel Nicolaus reaffirmed a hold rating and issued a $58.00 target price (down from $62.00) on shares of Akamai Technologies in a report on Wednesday, May 3rd. Finally, Wells Fargo & Company cut shares of Akamai Technologies from an outperform rating to a market perform rating in a report on Wednesday, May 3rd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $64.74.
Shares of Akamai Technologies (NASDAQ AKAM) opened at 52.10 on Monday. Akamai Technologies has a 52-week low of $46.81 and a 52-week high of $71.64. The firm has a market capitalization of $9.01 billion, a PE ratio of 28.47 and a beta of 0.67. The stock’s 50 day moving average price is $49.72 and its 200-day moving average price is $58.42.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, May 2nd. The technology infrastructure company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. The firm had revenue of $609.24 million during the quarter, compared to analysts’ expectations of $604.94 million. Akamai Technologies had a net margin of 13.53% and a return on equity of 11.31%. Equities research analysts anticipate that Akamai Technologies will post $2.55 EPS for the current fiscal year.
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In other Akamai Technologies news, Director Paul Sagan sold 17,889 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $49.53, for a total transaction of $886,042.17. Following the completion of the transaction, the director now directly owns 64,147 shares of the company’s stock, valued at approximately $3,177,200.91. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO F Thomson Leighton acquired 20,397 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were bought at an average cost of $49.02 per share, with a total value of $999,860.94. Following the completion of the acquisition, the chief executive officer now owns 247,454 shares in the company, valued at $12,130,195.08. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 61,410 shares of company stock valued at $2,999,444. 3.20% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in Akamai Technologies during the first quarter valued at approximately $111,000. Whittier Trust Co. raised its position in Akamai Technologies by 28.6% in the first quarter. Whittier Trust Co. now owns 2,251 shares of the technology infrastructure company’s stock valued at $134,000 after buying an additional 501 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Akamai Technologies by 79.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock valued at $139,000 after buying an additional 1,032 shares during the period. SpiderRock Advisors LLC acquired a new position in Akamai Technologies during the first quarter valued at approximately $145,000. Finally, Creative Planning raised its position in Akamai Technologies by 27.2% in the first quarter. Creative Planning now owns 2,674 shares of the technology infrastructure company’s stock valued at $160,000 after buying an additional 572 shares during the period. 87.16% of the stock is owned by institutional investors.
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.
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