JMP Securities reiterated their outperform rating on shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in a report released on Thursday, May 4th. JMP Securities currently has a $75.00 target price on the technology infrastructure company’s stock, down from their previous target price of $77.00.
Other equities research analysts have also issued research reports about the stock. B. Riley restated a buy rating and issued a $75.00 target price on shares of Akamai Technologies in a report on Sunday, January 8th. SunTrust Banks, Inc. lowered shares of Akamai Technologies from a buy rating to a hold rating and raised their target price for the stock from $54.00 to $82.00 in a report on Wednesday, May 3rd. Royal Bank of Canada reaffirmed a hold rating and issued a $65.00 price target on shares of Akamai Technologies in a research note on Friday, March 31st. MKM Partners reaffirmed a buy rating and issued a $79.00 price target on shares of Akamai Technologies in a research note on Monday, April 3rd. Finally, Wells Fargo & Co downgraded shares of Akamai Technologies from an outperform rating to a market perform rating in a research note on Wednesday, May 3rd. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $66.85.
Shares of Akamai Technologies (NASDAQ:AKAM) traded up 0.81% during midday trading on Thursday, hitting $47.38. 2,788,526 shares of the stock traded hands. The company’s 50-day moving average is $56.12 and its 200 day moving average is $63.54. The firm has a market capitalization of $8.19 billion, a PE ratio of 25.89 and a beta of 0.95. Akamai Technologies has a 52 week low of $46.90 and a 52 week high of $71.64.
Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, May 2nd. The technology infrastructure company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The firm had revenue of $609.24 million during the quarter, compared to analyst estimates of $604.94 million. Akamai Technologies had a net margin of 13.51% and a return on equity of 11.45%. Analysts anticipate that Akamai Technologies will post $2.56 earnings per share for the current year.
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In related news, CFO James M. Benson sold 33,243 shares of Akamai Technologies stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $65.00, for a total value of $2,160,795.00. Following the completion of the sale, the chief financial officer now directly owns 49,614 shares in the company, valued at approximately $3,224,910. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven Scopellite sold 22,290 shares of Akamai Technologies stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $65.89, for a total transaction of $1,468,688.10. Following the completion of the sale, the director now owns 22,290 shares of the company’s stock, valued at $1,468,688.10. The disclosure for this sale can be found here. Insiders sold a total of 121,999 shares of company stock worth $7,813,255 over the last 90 days. Company insiders own 2.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in AKAM. Advantage Investment Management LLC acquired a new stake in shares of Akamai Technologies during the fourth quarter valued at approximately $105,000. Acrospire Investment Management LLC boosted its stake in shares of Akamai Technologies by 16.7% in the third quarter. Acrospire Investment Management LLC now owns 2,100 shares of the technology infrastructure company’s stock valued at $111,000 after buying an additional 300 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Akamai Technologies during the first quarter valued at approximately $111,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Akamai Technologies during the fourth quarter valued at approximately $134,000. Finally, Whittier Trust Co. boosted its stake in shares of Akamai Technologies by 28.6% in the first quarter. Whittier Trust Co. now owns 2,251 shares of the technology infrastructure company’s stock valued at $134,000 after buying an additional 501 shares during the last quarter. Institutional investors own 91.07% of the company’s stock.
About Akamai Technologies
Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.
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