Akamai Technologies, Inc. (NASDAQ:AKAM) Receives Average Recommendation of “Hold” from Brokerages

Akamai Technologies, Inc. (NASDAQ:AKAM) has earned a consensus recommendation of “Hold” from the twenty brokerages that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $92.19.

A number of equities research analysts have recently commented on the company. DA Davidson lifted their price objective on Akamai Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. FBN Securities increased their target price on Akamai Technologies from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Credit Suisse Group increased their target price on Akamai Technologies from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Needham & Company LLC reissued a “buy” rating and issued a $95.00 price target on shares of Akamai Technologies in a research note on Monday, October 28th. Finally, ValuEngine cut shares of Akamai Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday.

Shares of NASDAQ:AKAM traded down $0.21 during trading on Tuesday, reaching $85.41. The stock had a trading volume of 6,024 shares, compared to its average volume of 1,248,110. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 0.61. The stock has a market cap of $14.08 billion, a P/E ratio of 30.95, a PEG ratio of 2.11 and a beta of 0.59. The business has a fifty day moving average price of $87.99 and a 200-day moving average price of $85.26. Akamai Technologies has a fifty-two week low of $57.18 and a fifty-two week high of $93.12.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Monday, October 28th. The technology infrastructure company reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.10. The firm had revenue of $709.91 million for the quarter, compared to analyst estimates of $701.25 million. Akamai Technologies had a net margin of 15.98% and a return on equity of 16.76%. Akamai Technologies’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 earnings per share. As a group, equities analysts forecast that Akamai Technologies will post 3.44 EPS for the current year.

In related news, CFO Ewout L. Steenbergen sold 1,760 shares of Akamai Technologies stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $251.19, for a total value of $442,094.40. Also, EVP Aaron Ahola sold 3,117 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $90.24, for a total transaction of $281,278.08. Following the completion of the sale, the executive vice president now directly owns 4,109 shares in the company, valued at $370,796.16. The disclosure for this sale can be found here. Insiders sold 49,004 shares of company stock valued at $4,567,719 in the last three months. 2.40% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC increased its holdings in shares of Akamai Technologies by 11.3% during the second quarter. Signaturefd LLC now owns 1,130 shares of the technology infrastructure company’s stock valued at $91,000 after purchasing an additional 115 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of Akamai Technologies by 1.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,206 shares of the technology infrastructure company’s stock worth $1,024,000 after buying an additional 130 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Akamai Technologies by 8.0% during the 3rd quarter. Parallel Advisors LLC now owns 1,760 shares of the technology infrastructure company’s stock worth $161,000 after buying an additional 130 shares in the last quarter. LS Investment Advisors LLC raised its position in shares of Akamai Technologies by 2.5% during the 3rd quarter. LS Investment Advisors LLC now owns 6,303 shares of the technology infrastructure company’s stock worth $576,000 after buying an additional 151 shares in the last quarter. Finally, We Are One Seven LLC lifted its stake in shares of Akamai Technologies by 4.0% in the 3rd quarter. We Are One Seven LLC now owns 4,036 shares of the technology infrastructure company’s stock worth $369,000 after acquiring an additional 156 shares during the period. Hedge funds and other institutional investors own 88.89% of the company’s stock.

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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