Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have been assigned a consensus rating of “Buy” from the twenty-five ratings firms that are covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $117.00.
AKAM has been the subject of several research analyst reports. Morgan Stanley raised their price target on Akamai Technologies from $107.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, July 29th. Piper Sandler raised their price objective on Akamai Technologies from $119.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Craig Hallum raised their price objective on Akamai Technologies from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. DA Davidson raised their price objective on Akamai Technologies from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. raised their price objective on Akamai Technologies from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th.
In other Akamai Technologies news, EVP Aaron Ahola sold 2,761 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $108.73, for a total transaction of $300,203.53. Following the transaction, the executive vice president now directly owns 3,885 shares in the company, valued at approximately $422,416.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rick M. Mcconnell sold 3,409 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $112.50, for a total value of $383,512.50. Following the transaction, the insider now owns 20,007 shares in the company, valued at $2,250,787.50. The disclosure for this sale can be found here. Insiders have sold a total of 12,126 shares of company stock valued at $1,346,576 over the last three months. 2.40% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Engineers Gate Manager LP purchased a new position in Akamai Technologies during the 1st quarter worth $476,000. Dai Ichi Life Insurance Company Ltd increased its holdings in shares of Akamai Technologies by 53.2% in the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 21,576 shares of the technology infrastructure company’s stock valued at $2,311,000 after acquiring an additional 7,488 shares during the period. American International Group Inc. increased its holdings in shares of Akamai Technologies by 4.0% in the 2nd quarter. American International Group Inc. now owns 61,762 shares of the technology infrastructure company’s stock valued at $6,614,000 after acquiring an additional 2,380 shares during the period. Duality Advisers LP purchased a new position in shares of Akamai Technologies in the 2nd quarter valued at $668,000. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Akamai Technologies by 131.2% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 34,847 shares of the technology infrastructure company’s stock valued at $3,732,000 after acquiring an additional 19,773 shares during the period. Institutional investors own 88.37% of the company’s stock.
NASDAQ AKAM traded down $1.32 during trading on Monday, hitting $108.61. 910,071 shares of the stock traded hands, compared to its average volume of 1,362,764. The company has a market capitalization of $17.67 billion, a P/E ratio of 28.19, a price-to-earnings-growth ratio of 2.17 and a beta of 0.31. The firm has a 50-day simple moving average of $110.26 and a 200-day simple moving average of $104.31. The company has a quick ratio of 3.34, a current ratio of 3.34 and a debt-to-equity ratio of 0.48. Akamai Technologies has a 12-month low of $75.18 and a 12-month high of $120.00.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, July 28th. The technology infrastructure company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.17. The business had revenue of $794.72 million during the quarter, compared to analysts’ expectations of $767.38 million. Akamai Technologies had a return on equity of 17.37% and a net margin of 17.82%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. As a group, research analysts predict that Akamai Technologies will post 4.05 EPS for the current fiscal year.
About Akamai Technologies
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides Web Application Protector to safeguard web assets from web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Edge DNS, which translates human-readable domain names into numerical IP addresses; Site Shield that prevents attacker from directly targeting the application origin and forces traffic to go through its network, where attack can be better detected and mitigated; identity Cloud, a customer identity access management solution; Prolexic Routed to protect web- and IP-based application; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.
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