Akamai Technologies (NASDAQ:AKAM) Earns “Buy” Rating from B. Riley

B. Riley restated their buy rating on shares of Akamai Technologies (NASDAQ:AKAM) in a report issued on Wednesday, Zacks.com reports.

Several other equities research analysts also recently commented on AKAM. Royal Bank of Canada set a $83.00 target price on Akamai Technologies and gave the stock a hold rating in a report on Wednesday. ValuEngine downgraded Akamai Technologies from a buy rating to a hold rating in a report on Friday. BidaskClub raised Akamai Technologies from a hold rating to a buy rating in a report on Friday. Craig Hallum set a $97.00 target price on Akamai Technologies and gave the stock a buy rating in a report on Wednesday. Finally, DA Davidson reissued a buy rating and issued a $95.00 target price on shares of Akamai Technologies in a report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $87.81.

AKAM stock traded down $1.79 during midday trading on Wednesday, hitting $88.32. The stock had a trading volume of 1,730,401 shares, compared to its average volume of 1,116,764. The stock has a market cap of $14.49 billion, a price-to-earnings ratio of 32.00, a price-to-earnings-growth ratio of 1.86 and a beta of 0.62. The stock’s 50-day moving average price is $81.69. Akamai Technologies has a 52-week low of $57.18 and a 52-week high of $90.76. The company has a current ratio of 2.95, a quick ratio of 3.19 and a debt-to-equity ratio of 0.35.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, July 30th. The technology infrastructure company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.30. Akamai Technologies had a return on equity of 16.32% and a net margin of 15.12%. The business had revenue of $705.07 million for the quarter, compared to the consensus estimate of $695.88 million. During the same period in the previous year, the company posted $0.83 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts expect that Akamai Technologies will post 3.23 EPS for the current year.

In related news, EVP Adam Karon sold 8,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $77.00, for a total transaction of $616,000.00. Following the completion of the sale, the executive vice president now owns 16,418 shares in the company, valued at $1,264,186. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Edward J. Mcgowan sold 3,247 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $89.08, for a total value of $289,242.76. Following the sale, the chief financial officer now owns 8,795 shares of the company’s stock, valued at approximately $783,458.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,247 shares of company stock valued at $1,715,963. 2.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Squar Milner Financial Services LLC purchased a new stake in Akamai Technologies in the second quarter worth about $26,000. Truvestments Capital LLC purchased a new stake in Akamai Technologies in the first quarter worth about $29,000. Mcmillion Capital Management Inc. purchased a new stake in Akamai Technologies in the second quarter worth about $31,000. Destination Wealth Management increased its position in Akamai Technologies by 215.8% in the second quarter. Destination Wealth Management now owns 439 shares of the technology infrastructure company’s stock worth $35,000 after buying an additional 300 shares in the last quarter. Finally, Amica Retiree Medical Trust purchased a new stake in Akamai Technologies in the second quarter worth about $53,000. Institutional investors and hedge funds own 87.72% of the company’s stock.

About Akamai Technologies

Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.

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Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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