Akamai Technologies, Inc. (NASDAQ:AKAM) Receives Consensus Rating of “Buy” from Analysts

Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) has received an average recommendation of “Buy” from the sixteen analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $133.20.

A number of analysts have commented on the stock. Raymond James cut their price target on shares of Akamai Technologies from $128.00 to $118.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 16th. Tigress Financial upped their price target on shares of Akamai Technologies from $157.00 to $168.00 in a research report on Wednesday, January 26th. StockNews.com assumed coverage on shares of Akamai Technologies in a research report on Thursday, March 31st. They set a “buy” rating on the stock. DA Davidson cut their price target on shares of Akamai Technologies from $143.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, March 23rd. Finally, Citigroup cut their price target on shares of Akamai Technologies from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, February 16th.

In related news, CFO Edward J. Mcgowan sold 3,805 shares of the firm’s stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $120.00, for a total value of $456,600.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bernardus Johannes M. Verwaayen sold 2,000 shares of the firm’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $105.12, for a total transaction of $210,240.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,325 shares of company stock worth $4,843,886. 1.70% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. Hartford Investment Management Co. increased its stake in Akamai Technologies by 8.0% in the 4th quarter. Hartford Investment Management Co. now owns 16,467 shares of the technology infrastructure company’s stock valued at $1,927,000 after buying an additional 1,219 shares during the last quarter. Carret Asset Management LLC increased its stake in Akamai Technologies by 5.4% in the 4th quarter. Carret Asset Management LLC now owns 20,870 shares of the technology infrastructure company’s stock valued at $2,443,000 after buying an additional 1,065 shares during the last quarter. North Star Asset Management Inc. increased its stake in Akamai Technologies by 1.6% in the 4th quarter. North Star Asset Management Inc. now owns 151,658 shares of the technology infrastructure company’s stock valued at $17,751,000 after buying an additional 2,353 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Akamai Technologies during the 3rd quarter worth approximately $11,745,000. Finally, Gradient Investments LLC increased its stake in shares of Akamai Technologies by 23.1% during the 4th quarter. Gradient Investments LLC now owns 127,101 shares of the technology infrastructure company’s stock worth $14,876,000 after purchasing an additional 23,857 shares during the last quarter. Hedge funds and other institutional investors own 89.58% of the company’s stock.

NASDAQ AKAM opened at $118.76 on Tuesday. The company has a market capitalization of $19.11 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 2.09 and a beta of 0.59. Akamai Technologies has a twelve month low of $96.86 and a twelve month high of $123.25. The stock has a fifty day simple moving average of $113.67 and a 200 day simple moving average of $112.29. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.44.

Akamai Technologies (NASDAQ:AKAM – Get Rating) last issued its quarterly earnings results on Tuesday, February 15th. The technology infrastructure company reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.12. The business had revenue of $905.36 million for the quarter, compared to analysts’ expectations of $898.83 million. Akamai Technologies had a net margin of 18.83% and a return on equity of 17.37%. During the same quarter in the prior year, the firm posted $1.06 earnings per share. Research analysts expect that Akamai Technologies will post 4.79 earnings per share for the current fiscal year.

About Akamai Technologies (Get Rating)

Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.

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