Akamai Technologies Inc. (NASDAQ:AKAM) Given Consensus Rating of “Hold” by Analysts
Shares of Akamai Technologies Inc. (NASDAQ:AKAM) have been given a consensus recommendation of “Hold” by the twenty-seven ratings firms that are currently covering the firm. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $60.18.
A number of analysts recently commented on AKAM shares. Pacific Crest restated a “buy” rating and set a $71.00 price target on shares of Akamai Technologies in a research note on Monday, July 11th. MKM Partners restated a “buy” rating and set a $68.00 price target on shares of Akamai Technologies in a research note on Saturday, July 9th. Deutsche Bank AG restated a “buy” rating on shares of Akamai Technologies in a research note on Wednesday, June 15th. KeyCorp restated a “buy” rating on shares of Akamai Technologies in a research note on Tuesday, June 7th. Finally, TheStreet upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, May 26th.
In other Akamai Technologies news, CEO F Thomson Leighton purchased 18,881 shares of the stock in a transaction that occurred on Thursday, June 16th. The stock was bought at an average cost of $52.95 per share, with a total value of $999,748.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Rick M. Mcconnell sold 7,545 shares of Akamai Technologies stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $55.29, for a total transaction of $417,163.05. Following the transaction, the insider now directly owns 41,381 shares of the company’s stock, valued at $2,287,955.49. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. boosted its position in shares of Akamai Technologies by 251.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 117,869 shares of the technology infrastructure company’s stock worth $6,204,000 after buying an additional 84,360 shares during the period. Norges Bank acquired a new position in shares of Akamai Technologies during the fourth quarter worth about $63,602,000. Chevy Chase Trust Holdings Inc. boosted its position in shares of Akamai Technologies by 3.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 149,635 shares of the technology infrastructure company’s stock worth $8,315,000 after buying an additional 5,257 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Akamai Technologies by 14.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,650 shares of the technology infrastructure company’s stock worth $2,259,000 after buying an additional 5,135 shares during the period. Finally, Exxonmobil Investment Management Inc. TX boosted its position in shares of Akamai Technologies by 7.9% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 43,034 shares of the technology infrastructure company’s stock worth $2,391,000 after buying an additional 3,150 shares during the period. 89.90% of the stock is owned by institutional investors.
Shares of Akamai Technologies (NASDAQ:AKAM) traded down 0.684% during mid-day trading on Wednesday, reaching $51.515. 1,456,128 shares of the company’s stock were exchanged. Akamai Technologies has a 52-week low of $39.43 and a 52-week high of $76.39. The company has a 50 day moving average price of $52.68 and a 200 day moving average price of $53.56. The firm has a market cap of $9.00 billion, a P/E ratio of 28.274 and a beta of 1.47.
Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, July 26th. The technology infrastructure company reported $0.64 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.64. The firm had revenue of $572 million for the quarter, compared to analysts’ expectations of $574.86 million. Akamai Technologies had a net margin of 14.31% and a return on equity of 11.82%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 earnings per share. Analysts forecast that Akamai Technologies will post $2.57 earnings per share for the current fiscal year.
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’s across the globe distributed platform comprises approximately 200,000 servers in over 1,400 networks in over 120 countries. It is involved in offering content delivery network (CDN) services.
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