Akamai Technologies (NASDAQ:AKAM) Downgraded by ValuEngine to “Hold”

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ValuEngine downgraded shares of Akamai Technologies (NASDAQ:AKAM) from a buy rating to a hold rating in a research note released on Friday, ValuEngine reports.

AKAM has been the subject of a number of other research reports. Royal Bank of Canada set a $83.00 price target on Akamai Technologies and gave the stock a hold rating in a research report on Wednesday, July 31st. Credit Suisse Group lifted their price target on Akamai Technologies from $75.00 to $81.00 and gave the stock a sell rating in a research report on Wednesday, July 31st. Piper Jaffray Companies set a $97.00 price target on Akamai Technologies and gave the stock a buy rating in a research report on Wednesday, July 31st. Guggenheim cut Akamai Technologies from a buy rating to a neutral rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. Finally, KeyCorp lifted their price target on Akamai Technologies from $80.00 to $91.00 and gave the stock an overweight rating in a research report on Wednesday, May 1st. 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 issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $87.81.

Shares of AKAM opened at $84.01 on Friday. The stock’s 50-day moving average price is $82.18. Akamai Technologies has a one year low of $57.18 and a one year 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. The firm has a market cap of $14.49 billion, a PE ratio of 30.44, a P/E/G ratio of 1.83 and a beta of 0.62.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, July 30th. The technology infrastructure company reported $1.07 EPS for the quarter, topping 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 company had revenue of $705.07 million during the quarter, compared to analysts’ expectations of $695.88 million. During the same quarter in the previous year, the firm posted $0.83 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts predict that Akamai Technologies will post 3.29 EPS for the current fiscal year.

In related 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 completion of the transaction, the executive vice president now owns 16,418 shares in the company, valued at approximately $1,264,186. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Edward J. Mcgowan sold 3,247 shares of Akamai Technologies stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $89.08, for a total value of $289,242.76. Following the completion of the transaction, 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. Insiders have sold a total of 21,247 shares of company stock valued at $1,715,963 in the last quarter. Company insiders own 2.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in AKAM. Squar Milner Financial Services LLC purchased a new stake in Akamai Technologies during the 2nd quarter worth approximately $26,000. Truvestments Capital LLC purchased a new stake in Akamai Technologies during the 1st quarter worth approximately $29,000. Mcmillion Capital Management Inc. purchased a new stake in Akamai Technologies during the 2nd quarter worth approximately $31,000. Destination Wealth Management increased its stake in Akamai Technologies by 215.8% during the 2nd 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 during the 2nd quarter worth approximately $53,000. Hedge funds and other institutional investors own 87.70% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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