Akamai Technologies (NASDAQ:AKAM) Cut to Hold at BidaskClub

BidaskClub cut shares of Akamai Technologies (NASDAQ:AKAM) from a buy rating to a hold rating in a research report released on Wednesday, BidAskClub reports.

AKAM has been the topic of a number of other reports. ValuEngine lowered shares of Akamai Technologies from a buy rating to a hold rating in a research report on Friday, August 2nd. Royal Bank of Canada set a $83.00 target price on shares of Akamai Technologies and gave the stock a hold rating in a research report on Wednesday, July 31st. Zacks Investment Research upgraded shares of Akamai Technologies from a hold rating to a buy rating and set a $84.00 target price on the stock in a research report on Tuesday, June 25th. Piper Jaffray Companies set a $97.00 target price on shares of Akamai Technologies and gave the stock a buy rating in a research report on Monday, August 12th. Finally, Craig Hallum set a $97.00 target price on shares of Akamai Technologies and gave the stock a buy rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Akamai Technologies presently has a consensus rating of Buy and an average price target of $87.81.

NASDAQ:AKAM opened at $90.41 on Wednesday. The firm’s fifty day moving average price is $87.87 and its 200 day moving average price is $79.48. Akamai Technologies has a 1-year low of $57.18 and a 1-year high of $93.12. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.95 and a quick ratio of 2.95. The firm has a market cap of $14.78 billion, a price-to-earnings ratio of 32.76, a price-to-earnings-growth ratio of 1.84 and a beta of 0.62.



Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, July 30th. The technology infrastructure company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.30. Akamai Technologies had a net margin of 15.12% and a return on equity of 16.32%. The firm had revenue of $705.07 million for the quarter, compared to analyst estimates of $695.88 million. During the same period last year, the firm posted $0.83 EPS. Akamai Technologies’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, analysts expect that Akamai Technologies will post 3.31 earnings per share for the current fiscal year.

In related news, CFO Edward J. Mcgowan sold 3,247 shares of the business’s 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 sale, the chief financial officer now directly owns 8,795 shares in the company, valued at approximately $783,458.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Adam Karon sold 3,500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $85.00, for a total transaction of $297,500.00. Following the completion of the sale, the executive vice president now owns 9,418 shares in the company, valued at $800,530. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Akamai Technologies by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 17,132,153 shares of the technology infrastructure company’s stock worth $1,372,971,000 after buying an additional 307,796 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Akamai Technologies by 5.1% in the 1st quarter. Clearbridge Investments LLC now owns 8,392,790 shares of the technology infrastructure company’s stock worth $601,847,000 after buying an additional 410,681 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Akamai Technologies by 15.1% in the 2nd quarter. AQR Capital Management LLC now owns 5,061,401 shares of the technology infrastructure company’s stock worth $402,178,000 after buying an additional 664,795 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Akamai Technologies by 4.1% in the 1st quarter. First Trust Advisors LP now owns 4,313,126 shares of the technology infrastructure company’s stock worth $309,294,000 after buying an additional 171,774 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of Akamai Technologies by 37,980.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,030,480 shares of the technology infrastructure company’s stock worth $323,002,000 after buying an additional 4,019,896 shares in the last quarter. Institutional investors and hedge funds own 87.38% 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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