Zacks Investment Research upgraded shares of Akamai Technologies (NASDAQ:AKAM) from a hold rating to a buy rating in a report published on Thursday morning, Zacks.com reports. They currently have $107.00 price objective on the technology infrastructure company’s stock.
According to Zacks, “Akamai delivered stellar Q4 results, which benefited from robust cloud security solutions growth and strong holiday season traffic in e-commerce and media verticals. Strong performance of cloud security business, and growth in Media & Carrier Division drove the top line. Solid demand for Kona Site Defender, Prolexic Solutions, new Bot Manager Premier, and Nominum Services are key catalysts. The traction gained by Enterprise Application Access and Enterprise Threat Protector is noteworthy. Further, increasing adoption of mobile data/apps on growing mobile data traffic bodes well. Strong traffic growth in video downloads, is a positive. Notably, shares of the company have outperformed the industry in the past year. However, unfavorable foreign exchange and seasonal summer traffic remain headwinds. Increasing bandwidth costs are a major concern.”
AKAM has been the subject of a number of other research reports. Morgan Stanley boosted their price target on shares of Akamai Technologies from $111.00 to $112.00 and gave the stock an overweight rating in a research note on Wednesday. ValuEngine cut shares of Akamai Technologies from a hold rating to a sell rating in a research note on Tuesday, December 3rd. Craig Hallum upped their price objective on shares of Akamai Technologies from $110.00 to $115.00 and gave the company a buy rating in a research note on Wednesday. Guggenheim raised shares of Akamai Technologies from a neutral rating to a buy rating and set a $98.00 price objective for the company in a research note on Tuesday, January 7th. Finally, BidaskClub raised shares of Akamai Technologies from a sell rating to a hold rating in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $100.26.
AKAM stock traded up $0.07 during midday trading on Thursday, reaching $99.67. The company had a trading volume of 1,028,070 shares, compared to its average volume of 1,293,157. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.74 and a quick ratio of 3.74. Akamai Technologies has a 1 year low of $67.28 and a 1 year high of $103.29. The company has a market capitalization of $15.47 billion, a P/E ratio of 36.24, a P/E/G ratio of 2.13 and a beta of 0.53. The firm has a 50-day moving average price of $92.98 and a 200-day moving average price of $89.23.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, February 11th. The technology infrastructure company reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.10. Akamai Technologies had a net margin of 15.98% and a return on equity of 16.76%. The business had revenue of $772.12 million during the quarter, compared to analysts’ expectations of $749.76 million. During the same quarter in the previous year, the company earned $1.07 EPS. On average, equities analysts predict that Akamai Technologies will post 3.44 EPS for the current year.
In other news, Director Bernardus Johannes M. Verwaayen sold 25,062 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $87.74, for a total value of $2,198,939.88. Following the completion of the sale, the director now owns 25,062 shares of the company’s stock, valued at approximately $2,198,939.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of AKAM. Pacer Advisors Inc. raised its position in Akamai Technologies by 10.0% in the 3rd quarter. Pacer Advisors Inc. now owns 17,610 shares of the technology infrastructure company’s stock worth $1,609,000 after purchasing an additional 1,605 shares during the last quarter. DNB Asset Management AS raised its position in Akamai Technologies by 5.3% in the 3rd quarter. DNB Asset Management AS now owns 16,655 shares of the technology infrastructure company’s stock worth $1,522,000 after purchasing an additional 843 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Akamai Technologies by 10.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,136 shares of the technology infrastructure company’s stock worth $926,000 after purchasing an additional 927 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Akamai Technologies by 1,172.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 185,786 shares of the technology infrastructure company’s stock worth $16,977,000 after purchasing an additional 171,186 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Akamai Technologies in the 3rd quarter worth approximately $278,000. Institutional investors own 89.32% 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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