Akamai Technologies (NASDAQ:AKAM) Downgraded by BidaskClub

Akamai Technologies (NASDAQ:AKAM) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Wednesday, June 5th, BidAskClub reports.

Several other equities analysts have also recently weighed in on AKAM. Deutsche Bank cut Akamai Technologies from a “hold” rating to a “sell” rating and set a $58.00 price target on the stock. in a report on Monday, March 25th. Evercore ISI assumed coverage on Akamai Technologies in a report on Thursday, March 21st. They set an “in-line” rating and a $70.00 price target on the stock. Needham & Company LLC assumed coverage on Akamai Technologies in a report on Monday, April 22nd. They set a “buy” rating and a $95.00 price target on the stock. Piper Jaffray Companies increased their price target on Akamai Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, KeyCorp increased their price target on Akamai Technologies from $80.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $82.93.

Shares of NASDAQ AKAM traded up $0.72 during midday trading on Wednesday, reaching $80.14. The company had a trading volume of 687,957 shares, compared to its average volume of 1,237,932. The company has a market cap of $13.03 billion, a PE ratio of 29.04, a PEG ratio of 1.66 and a beta of 0.63. Akamai Technologies has a one year low of $57.18 and a one year high of $86.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.19 and a current ratio of 3.19. The company’s fifty day simple moving average is $77.76.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, April 30th. The technology infrastructure company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.09. The business had revenue of $706.51 million for the quarter, compared to analysts’ expectations of $698.33 million. Akamai Technologies had a return on equity of 15.29% and a net margin of 12.78%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS. As a group, research analysts anticipate that Akamai Technologies will post 3.23 earnings per share for the current fiscal year.

In other Akamai Technologies news, EVP Adam Karon sold 8,000 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $77.00, for a total value of $616,000.00. Following the completion of the sale, the executive vice president now owns 16,418 shares in the company, valued at approximately $1,264,186. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rick M. Mcconnell sold 1,500 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $74.00, for a total value of $111,000.00. Following the completion of the sale, the insider now owns 22,769 shares of the company’s stock, valued at approximately $1,684,906. The disclosure for this sale can be found here. Insiders sold a total of 34,058 shares of company stock valued at $2,671,281 over the last 90 days. 2.40% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the stock. Horizon Investments LLC bought a new stake in Akamai Technologies in the first quarter worth about $271,000. Cleararc Capital Inc. purchased a new position in Akamai Technologies in the first quarter worth $285,000. Nordea Investment Management AB lifted its stake in shares of Akamai Technologies by 340.9% during the first quarter. Nordea Investment Management AB now owns 1,824,655 shares of the technology infrastructure company’s stock worth $130,846,000 after buying an additional 1,410,848 shares during the period. Ashburton Jersey Ltd lifted its stake in shares of Akamai Technologies by 3.6% during the first quarter. Ashburton Jersey Ltd now owns 4,845 shares of the technology infrastructure company’s stock worth $347,000 after buying an additional 170 shares during the period. Finally, Advisory Services Network LLC lifted its position in Akamai Technologies by 332.4% during the first quarter. Advisory Services Network LLC now owns 10,234 shares of the technology infrastructure company’s stock valued at $734,000 after purchasing an additional 7,867 shares during the period. 87.60% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Company Profile

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 cloud security solutions, including 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; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.

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Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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