DA Davidson Boosts Akamai Technologies (NASDAQ:AKAM) Price Target to $130.00

Akamai Technologies (NASDAQ:AKAM) had its target price boosted by DA Davidson from $115.00 to $130.00 in a report published on Wednesday, The Fly reports. They currently have a buy rating on the technology infrastructure company’s stock.

A number of other research analysts have also recently commented on the company. Needham & Company LLC boosted their price objective on Akamai Technologies from $112.00 to $135.00 and gave the stock a buy rating in a research note on Wednesday, July 22nd. William Blair restated a buy rating on shares of Akamai Technologies in a research note on Thursday, April 9th. Cowen upgraded Akamai Technologies from a market perform rating to an outperform rating and boosted their price objective for the stock from $107.00 to $150.00 in a research note on Thursday, July 2nd. Credit Suisse Group restated a hold rating on shares of Akamai Technologies in a research note on Wednesday, April 29th. Finally, BidaskClub cut Akamai Technologies from a buy rating to a hold rating in a research note on Thursday, June 4th. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $117.00.

AKAM stock opened at $112.44 on Wednesday. The stock has a 50-day moving average price of $108.31 and a two-hundred day moving average price of $99.29. Akamai Technologies has a 12-month low of $75.18 and a 12-month high of $116.39. The company has a current ratio of 3.34, a quick ratio of 3.20 and a debt-to-equity ratio of 0.65. The company has a market cap of $17.93 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 2.28 and a beta of 0.34.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, July 28th. The technology infrastructure company reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.17. Akamai Technologies had a return on equity of 17.37% and a net margin of 17.82%. The firm had revenue of $794.72 million during the quarter, compared to the consensus estimate of $767.38 million. During the same quarter in the previous year, the business earned $1.07 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. Equities analysts forecast that Akamai Technologies will post 3.93 EPS for the current fiscal year.

In other news, CFO Edward J. Mcgowan sold 2,516 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $116.00, for a total transaction of $291,856.00. Following the completion of the transaction, the chief financial officer now directly owns 5,129 shares of the company’s stock, valued at $594,964. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rick M. Mcconnell sold 11,120 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $96.00, for a total value of $1,067,520.00. Following the completion of the transaction, the insider now directly owns 38,747 shares of the company’s stock, valued at $3,719,712. The disclosure for this sale can be found here. Insiders have sold 37,992 shares of company stock valued at $3,849,989 over the last ninety days. Corporate insiders own 2.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Clearbridge Investments LLC grew its holdings in Akamai Technologies by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 8,191,815 shares of the technology infrastructure company’s stock worth $749,469,000 after buying an additional 44,837 shares in the last quarter. First Trust Advisors LP boosted its stake in Akamai Technologies by 26.4% during the 2nd quarter. First Trust Advisors LP now owns 3,910,932 shares of the technology infrastructure company’s stock valued at $418,822,000 after purchasing an additional 817,467 shares in the last quarter. King Luther Capital Management Corp boosted its stake in Akamai Technologies by 1.8% during the 1st quarter. King Luther Capital Management Corp now owns 2,664,795 shares of the technology infrastructure company’s stock valued at $243,802,000 after purchasing an additional 47,218 shares in the last quarter. Geode Capital Management LLC boosted its stake in Akamai Technologies by 2.6% during the 1st quarter. Geode Capital Management LLC now owns 2,603,448 shares of the technology infrastructure company’s stock valued at $237,798,000 after purchasing an additional 64,939 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Akamai Technologies by 9.7% during the 1st quarter. Legal & General Group Plc now owns 1,817,882 shares of the technology infrastructure company’s stock valued at $164,364,000 after purchasing an additional 160,260 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

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 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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The Fly

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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