Akamai Technologies (AKAM) Price Target Lowered to $0.00 at Deutsche Bank

Akamai Technologies (NASDAQ:AKAM) had its price target cut by Deutsche Bank in a research report released on Thursday, The Fly reports. They currently have a hold rating on the technology infrastructure company’s stock.

A number of other equities research analysts have also recently weighed in on AKAM. BidaskClub cut Akamai Technologies from a strong-buy rating to a buy rating in a research note on Tuesday, June 26th. Zacks Investment Research cut Akamai Technologies from a strong-buy rating to a hold rating in a research note on Friday, June 29th. ValuEngine cut Akamai Technologies from a buy rating to a hold rating in a research note on Tuesday, October 2nd. Piper Jaffray Companies reiterated a buy rating on shares of Akamai Technologies in a research note on Monday, October 1st. Finally, Robert W. Baird reiterated a hold rating and issued a $77.00 price objective on shares of Akamai Technologies in a research note on Wednesday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $78.67.

Shares of NASDAQ AKAM opened at $66.24 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.19 and a quick ratio of 2.19. Akamai Technologies has a twelve month low of $49.59 and a twelve month high of $83.08. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of 34.86, a PEG ratio of 2.02 and a beta of 0.47.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, July 31st. The technology infrastructure company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.03. Akamai Technologies had a return on equity of 10.63% and a net margin of 6.74%. The company had revenue of $663.00 million during the quarter, compared to analysts’ expectations of $661.13 million. During the same quarter in the previous year, the business earned $0.62 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Akamai Technologies will post 2.47 earnings per share for the current year.

In other news, Director Paul Sagan sold 39,100 shares of the company’s stock in a transaction that occurred on Tuesday, July 10th. The stock was sold at an average price of $76.09, for a total transaction of $2,975,119.00. Following the completion of the sale, the director now owns 154,278 shares in the company, valued at $11,739,013.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Blumofe sold 4,000 shares of the stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $71.20, for a total value of $284,800.00. Following the completion of the transaction, the executive vice president now owns 19,951 shares of the company’s stock, valued at approximately $1,420,511.20. The disclosure for this sale can be found here. Insiders have sold 131,958 shares of company stock valued at $10,136,542 in the last 90 days. Company insiders own 3.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. King Luther Capital Management Corp raised its position in Akamai Technologies by 6.2% in the second quarter. King Luther Capital Management Corp now owns 2,301,365 shares of the technology infrastructure company’s stock worth $168,529,000 after acquiring an additional 133,865 shares in the last quarter. Janus Henderson Group PLC raised its position in Akamai Technologies by 729.0% in the second quarter. Janus Henderson Group PLC now owns 1,162,103 shares of the technology infrastructure company’s stock worth $85,101,000 after acquiring an additional 1,021,926 shares in the last quarter. Legal & General Group Plc raised its position in Akamai Technologies by 5.6% in the second quarter. Legal & General Group Plc now owns 1,127,704 shares of the technology infrastructure company’s stock worth $82,584,000 after acquiring an additional 59,380 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Akamai Technologies by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 973,768 shares of the technology infrastructure company’s stock worth $69,118,000 after acquiring an additional 16,059 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Akamai Technologies by 4.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 920,906 shares of the technology infrastructure company’s stock worth $67,438,000 after acquiring an additional 41,481 shares in the last quarter. Hedge funds and other institutional investors own 86.03% 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. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.

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