Akamai Technologies (NASDAQ:AKAM) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Tuesday.
AKAM has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Akamai Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 29th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $89.00 target price on shares of Akamai Technologies in a research report on Friday, July 20th. ValuEngine downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. B. Riley cut their target price on shares of Akamai Technologies from $99.00 to $97.00 and set a “$79.75” rating for the company in a research report on Monday, July 23rd. Finally, Deutsche Bank downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and cut their target price for the stock from $90.00 to $80.00 in a research report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Akamai Technologies currently has an average rating of “Buy” and an average price target of $78.67.
AKAM stock opened at $65.38 on Tuesday. Akamai Technologies has a 12-month low of $49.59 and a 12-month high of $83.08. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.19 and a quick ratio of 2.19. The company has a market capitalization of $12.40 billion, a price-to-earnings ratio of 34.41, a P/E/G ratio of 2.02 and a beta of 0.47.
Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, July 31st. The technology infrastructure company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. Akamai Technologies had a net margin of 6.74% and a return on equity of 10.63%. The company had revenue of $663.00 million during the quarter, compared to the consensus estimate of $661.13 million. During the same quarter in the prior year, the firm earned $0.62 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. On average, research analysts expect that Akamai Technologies will post 2.47 earnings per share for the current fiscal year.
In other news, EVP Adam Karon sold 5,000 shares of the stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the transaction, the executive vice president now owns 12,251 shares in the company, valued at approximately $980,080. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul Sagan sold 39,100 shares of the firm’s stock in a transaction on Tuesday, July 24th. The shares were sold at an average price of $79.51, for a total transaction of $3,108,841.00. Following the completion of the transaction, the director now owns 154,278 shares in the company, valued at $12,266,643.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,315 shares of company stock worth $6,815,655. 3.20% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. J.P. Marvel Investment Advisors LLC grew its stake in Akamai Technologies by 13.9% in the 2nd quarter. J.P. Marvel Investment Advisors LLC now owns 81,335 shares of the technology infrastructure company’s stock valued at $5,956,000 after buying an additional 9,895 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in Akamai Technologies in the 2nd quarter valued at $142,000. Aristeia Capital LLC acquired a new position in Akamai Technologies in the 2nd quarter valued at $7,712,000. Parametrica Management Ltd acquired a new position in Akamai Technologies in the 2nd quarter valued at $206,000. Finally, Swiss National Bank grew its stake in Akamai Technologies by 3.1% in the 2nd quarter. Swiss National Bank now owns 559,619 shares of the technology infrastructure company’s stock valued at $40,981,000 after buying an additional 17,000 shares during the last quarter. Institutional investors and hedge funds 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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