Akamai Technologies (AKAM) Earns Daily Coverage Optimism Score of 0.23

Media coverage about Akamai Technologies (NASDAQ:AKAM) has been trending somewhat positive recently, according to Accern Sentiment Analysis. The research group identifies positive and negative media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Akamai Technologies earned a media sentiment score of 0.23 on Accern’s scale. Accern also gave news stories about the technology infrastructure company an impact score of 46.0845466971688 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.

Here are some of the news stories that may have effected Accern’s analysis:

Shares of Akamai Technologies stock traded down $1.53 during midday trading on Monday, hitting $72.49. The stock had a trading volume of 1,136,963 shares, compared to its average volume of 1,919,789. Akamai Technologies has a twelve month low of $44.65 and a twelve month high of $78.28. The stock has a market capitalization of $12,585.74, a price-to-earnings ratio of 57.99, a price-to-earnings-growth ratio of 2.60 and a beta of 0.68. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.82 and a current ratio of 2.82.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.06. Akamai Technologies had a return on equity of 9.90% and a net margin of 8.72%. The business had revenue of $663.50 million for the quarter, compared to analyst estimates of $649.08 million. During the same period in the previous year, the company earned $0.72 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. research analysts expect that Akamai Technologies will post 2.22 EPS for the current fiscal year.

Akamai Technologies announced that its Board of Directors has initiated a share buyback program on Thursday, March 8th that allows the company to buyback $417.00 million in outstanding shares. This buyback authorization allows the technology infrastructure company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

A number of brokerages recently weighed in on AKAM. Credit Suisse Group reiterated an “outperform” rating and issued a $88.00 target price (up previously from $78.00) on shares of Akamai Technologies in a report on Friday, March 9th. JPMorgan Chase & Co. upgraded Akamai Technologies from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $44.65 to $75.19 in a report on Friday, March 9th. Cowen upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating in a report on Thursday, March 8th. KeyCorp upgraded Akamai Technologies from an “underweight” rating to a “sector weight” rating and set a $57.00 target price on the stock in a report on Thursday. Finally, Deutsche Bank lifted their target price on Akamai Technologies from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $69.84.

In related news, EVP James Gemmell sold 8,430 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $67.00, for a total value of $564,810.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William Wheaton sold 5,000 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the sale, the insider now directly owns 39,465 shares of the company’s stock, valued at $2,762,550. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by insiders.

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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.

Insider Buying and Selling by Quarter for Akamai Technologies (NASDAQ:AKAM)

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