Akamai Technologies (NASDAQ:AKAM) PT Raised to $80.00 at Oppenheimer

Akamai Technologies (NASDAQ:AKAM) had its price target hoisted by Oppenheimer from $60.00 to $80.00 in a research report sent to investors on Monday, December 18th. The firm currently has an outperform rating on the technology infrastructure company’s stock.

A number of other equities analysts also recently weighed in on the stock. TheStreet raised shares of Akamai Technologies from a c rating to a b- rating in a research note on Tuesday, November 14th. Vetr raised shares of Akamai Technologies from a buy rating to a strong-buy rating and set a $52.07 target price for the company in a research note on Wednesday, September 6th. Instinet reaffirmed a neutral rating and set a $47.00 target price (down previously from $48.00) on shares of Akamai Technologies in a research note on Tuesday, September 5th. Zacks Investment Research downgraded shares of Akamai Technologies from a hold rating to a sell rating in a research note on Monday, October 16th. Finally, Wells Fargo & Co set a $57.00 target price on shares of Akamai Technologies and gave the company a hold rating in a research note on Tuesday, October 10th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $63.20.

Akamai Technologies (NASDAQ:AKAM) traded down $1.12 during trading on Monday, hitting $65.21. 2,858,900 shares of the stock were exchanged, compared to its average volume of 2,880,000. 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 one year low of $44.65 and a one year high of $71.64. The stock has a market capitalization of $11,030.00, a price-to-earnings ratio of 39.05, a P/E/G ratio of 2.66 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, October 24th. The technology infrastructure company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.03. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The business had revenue of $621.00 million during the quarter, compared to analyst estimates of $610.66 million. During the same period last year, the business posted $0.68 earnings per share. Akamai Technologies’s quarterly revenue was up 6.3% compared to the same quarter last year. sell-side analysts anticipate that Akamai Technologies will post 1.89 earnings per share for the current year.

In other news, insider William Wheaton sold 10,000 shares of Akamai Technologies stock in a transaction 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 owns 32,319 shares in the company, valued at approximately $2,142,426.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO F Thomson Leighton purchased 17,537 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were acquired at an average price of $57.01 per share, for a total transaction of $999,784.37. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 55,752 shares of company stock valued at $2,999,371 and sold 71,971 shares valued at $4,141,642. Insiders own 3.20% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC lifted its stake in shares of Akamai Technologies by 9.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock valued at $101,000 after buying an additional 168 shares in the last quarter. Westwood Holdings Group Inc. purchased a new position in shares of Akamai Technologies during the 2nd quarter valued at $117,000. BB&T Investment Services Inc. purchased a new position in shares of Akamai Technologies during the 2nd quarter valued at $119,000. FTB Advisors Inc. lifted its stake in shares of Akamai Technologies by 2.4% during the 2nd quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock valued at $125,000 after buying an additional 59 shares in the last quarter. Finally, Tobam purchased a new position in shares of Akamai Technologies during the 2nd quarter valued at $153,000. Institutional investors own 86.33% of the company’s stock.

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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.

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