Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) has received a consensus “Buy” recommendation from the sixteen brokerages that currently cover the company, MarketBeat Ratings reports. One equity research analyst gave the stock a sell rating, four gave the company a hold rating and ten gave the company a buy rating. The 1-year average target price among analysts who have rated the stock over the past year is $133.30.
Several research analysts have recently commented on the company. StockNews.com began covering Akamai Technologies in a research note on Thursday. They issued a “buy” rating on the stock. DA Davidson reduced its price target on Akamai Technologies from $143.00 to $130.00 and set a “buy” rating for the company in a Wednesday, March 23 report. Citigroup reduced its price target on Akamai Technologies from $135.00 to $130.00 and set a “buy” rating for the company in a Wednesday, February 16, report. JPMorgan Chase & Co. downgraded Akamai Technologies from a “neutral” rating to an “underweight” rating and set a target price of $120.00 for the company. in a report on Tuesday, December 14. Finally, Raymond James lowered his price target on Akamai Technologies from $128.00 to $118.00 and set an “outperform” rating for the company in a Wednesday, February 16 report.
AKAM stock was down $1.72 in Friday’s session, hitting $119.39. The stock had a trading volume of 1,419,202 shares, compared to an average volume of 1,637,295. Akamai Technologies has a 52-week low of $96.86 and a 52-week high of $121.80. The stock’s 50-day moving average is $111.65 and its two-hundred-day moving average is $110.87. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt ratio of 0.44. The company has a market capitalization of $19.40 billion, a PE ratio of 30.38, a PEG ratio of 2.07 and a beta of 0.58.
Akamai Technologies (NASDAQ:AKAM – Get Rating) last reported results on Tuesday, February 15. The technology infrastructure company reported earnings per share of $1.26 for the quarter, beating consensus analyst estimates of $1.14 by $0.12. Akamai Technologies achieved a return on equity of 17.37% and a net margin of 18.83%. The company posted revenue of $905.36 million for the quarter, versus a consensus estimate of $898.83 million. In the same quarter of the previous year, the company had earned earnings per share of $1.06. On average, research analysts expect Akamai Technologies to post EPS of 4.8 for the current year.
In other Akamai Technologies news, Chief Financial Officer Edward J. Mcgowan sold 3,805 shares in a trade that took place on Tuesday, March 29. The stock was sold at an average price of $120.00, for a total transaction of $456,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, Executive Vice President Aaron Ahola sold 1,500 shares in a trade that took place on Friday, January 14. The shares were sold at an average price of $112.52, for a total value of $168,780.00. The disclosure of this sale can be found here. Insiders sold 24,458 shares of the company worth $2,724,709 in the past 90 days. Insiders of the company own 1.60% of the shares of the company.
Institutional investors have recently changed their stock portfolios. Carret Asset Management LLC increased its position in Akamai Technologies shares by 5.4% during the fourth quarter. Carret Asset Management LLC now owns 20,870 shares of the technology infrastructure company worth $2,443,000 after purchasing an additional 1,065 shares during the period. Garrison Asset Management LLC increased its position in Akamai Technologies shares by 0.7% during the third quarter. Garrison Asset Management LLC now owns 21,702 shares of the technology infrastructure company worth $2,270,000 after purchasing 151 additional shares during the period. Pacer Advisors Inc. increased its position in Akamai Technologies shares by 14.6% during the third quarter. Pacer Advisors Inc. now owns 10,736 shares of the technology infrastructure company worth $1,123,000 after buying 1,367 additional shares during the period. Two Sigma Advisers LP purchased a new stock position in Akamai Technologies during the third quarter for a value of $11,745,000. Finally, Gradient Investments LLC increased its position in Akamai Technologies shares by 23.1% during the fourth quarter. Gradient Investments LLC now owns 127,101 shares of the technology infrastructure company worth $14,876,000 after purchasing an additional 23,857 shares during the period. Institutional investors hold 89.58% of the company’s shares.
About Akamai Technologies (Get a rating)
Akamai Technologies, Inc. provides cloud services to secure, deliver, and optimize content and business applications on the Internet in the United States and around the world. The company offers cloud solutions to protect infrastructure, websites, applications, application programming interfaces and users against various cyberattacks and online threats while improving performance.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Akamai Technologies right now?
Before you consider Akamai Technologies, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Akamai Technologies wasn’t on the list.
While Akamai Technologies currently enjoys a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here