Nomura Boosts Akamai Technologies (NASDAQ:AKAM) Price Target to $81.00

Akamai Technologies (NASDAQ:AKAM) had its price objective boosted by Nomura from $75.00 to $81.00 in a report issued on Wednesday morning, BenzingaRatingsTable reports. Nomura currently has a neutral rating on the technology infrastructure company’s stock.

A number of other equities research analysts also recently weighed in on the company. Piper Jaffray Companies raised their price target on Akamai Technologies from $85.00 to $96.00 and gave the company an overweight rating in a research report on Wednesday, May 1st. Evercore ISI restated a hold rating and set a $70.00 price target on shares of Akamai Technologies in a research report on Thursday, June 13th. BidaskClub downgraded Akamai Technologies from a buy rating to a hold rating in a research report on Saturday, July 27th. Credit Suisse Group raised their price target on Akamai Technologies from $75.00 to $81.00 and gave the company a sell rating in a research report on Wednesday. Finally, Craig Hallum set a $97.00 price target on Akamai Technologies and gave the company a buy rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $87.81.

NASDAQ AKAM traded down $1.79 during trading hours on Wednesday, reaching $88.32. 1,730,401 shares of the stock traded hands, compared to its average volume of 1,265,534. The firm has a 50 day moving average price of $81.69. Akamai Technologies has a 1 year low of $57.18 and a 1 year high of $90.76. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.19 and a current ratio of 2.95. The firm has a market cap of $14.79 billion, a P/E ratio of 32.00, a price-to-earnings-growth ratio of 1.90 and a beta of 0.62.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, July 30th. The technology infrastructure company reported $1.07 earnings per share for the quarter, beating the Zacks’ 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 quarter last year, the business posted $0.83 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities research analysts expect that Akamai Technologies will post 3.29 earnings per share for the current fiscal year.

In other news, EVP Adam Karon sold 8,000 shares of Akamai Technologies stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $77.00, for a total value of $616,000.00. Following the transaction, 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 link. Also, Director Frederic V. Salerno sold 3,000 shares of Akamai Technologies stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $77.74, for a total value of $233,220.00. Following the completion of the transaction, the director now owns 68,919 shares in the company, valued at approximately $5,357,763.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,247 shares of company stock worth $1,715,963. Company insiders own 2.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squar Milner Financial Services LLC bought a new stake in shares of Akamai Technologies in the second quarter worth about $26,000. Truvestments Capital LLC bought a new stake in shares of Akamai Technologies in the first quarter worth about $29,000. Mcmillion Capital Management Inc. bought a new stake in shares of Akamai Technologies in the second quarter worth about $31,000. Liberty Wealth Management LLC bought a new stake in shares of Akamai Technologies in the fourth quarter worth about $32,000. Finally, Destination Wealth Management grew its stake in shares of 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 purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 87.72% 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. 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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