Akamai Technologies (AKAM) Earns “Buy” Rating from Deutsche Bank

Deutsche Bank reissued their buy rating on shares of Akamai Technologies (NASDAQ:AKAM) in a research note issued to investors on Wednesday, January 3rd. The firm currently has a $75.00 price objective on the technology infrastructure company’s stock.

Other analysts have also recently issued reports about the company. TheStreet upgraded Akamai Technologies from a c rating to a b- rating in a report on Tuesday, November 14th. Vetr cut Akamai Technologies from a strong-buy rating to a buy rating and set a $52.07 target price on the stock. in a report on Wednesday, September 13th. B. Riley reissued a buy rating and issued a $66.00 price target on shares of Akamai Technologies in a research note on Thursday, October 12th. Guggenheim raised Akamai Technologies from a neutral rating to a buy rating and boosted their price target for the company from $53.00 to $54.00 in a research note on Monday, October 2nd. Finally, Piper Jaffray Companies reissued a buy rating and issued a $60.00 price target on shares of Akamai Technologies in a research note on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and an average price target of $63.20.

Shares of Akamai Technologies (AKAM) traded down $1.12 during mid-day trading on Wednesday, reaching $65.21. The company had a trading volume of 2,858,864 shares, compared to its average volume of 2,880,000. Akamai Technologies has a 1-year low of $44.65 and a 1-year high of $71.64. The company has a market capitalization of $11,030.00, a PE ratio of 39.05, a PEG ratio of 2.66 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.

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

In other Akamai Technologies news, CEO F Thomson Leighton acquired 19,670 shares of Akamai Technologies stock in a transaction on Monday, October 16th. The stock was purchased at an average price of $50.83 per share, for a total transaction of $999,826.10. Following the purchase, the chief executive officer now directly owns 226,950 shares of the company’s stock, valued at $11,535,868.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Aaron Ahola sold 2,893 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $52.44, for a total value of $151,708.92. Following the completion of the transaction, the senior vice president now owns 8,046 shares of the company’s stock, valued at approximately $421,932.24. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 55,752 shares of company stock valued at $2,999,371 and have sold 71,971 shares valued at $4,141,642. Corporate insiders own 3.20% of the company’s stock.

Large investors have recently made changes to their positions in the business. Legal & General Group Plc grew its stake in Akamai Technologies by 3.9% in the 3rd quarter. Legal & General Group Plc now owns 844,744 shares of the technology infrastructure company’s stock valued at $41,155,000 after purchasing an additional 31,911 shares during the period. Schwab Charles Investment Management Inc. grew its stake in Akamai Technologies by 23.0% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 809,014 shares of the technology infrastructure company’s stock valued at $39,416,000 after purchasing an additional 151,399 shares during the period. Swiss National Bank grew its stake in Akamai Technologies by 2.8% in the 2nd quarter. Swiss National Bank now owns 631,319 shares of the technology infrastructure company’s stock valued at $31,446,000 after purchasing an additional 17,300 shares during the period. Carret Asset Management LLC grew its stake in Akamai Technologies by 17.3% in the 3rd quarter. Carret Asset Management LLC now owns 14,550 shares of the technology infrastructure company’s stock valued at $709,000 after purchasing an additional 2,150 shares during the period. Finally, FIL Ltd grew its stake in Akamai Technologies by 63.5% in the 2nd quarter. FIL Ltd now owns 1,859,231 shares of the technology infrastructure company’s stock valued at $92,609,000 after purchasing an additional 722,170 shares during the period. Hedge funds and other institutional investors own 86.33% of the company’s stock.

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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.

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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