Akamai Technologies (NASDAQ:AKAM) Sets New 12-Month High at $95.55

Akamai Technologies, Inc. (NASDAQ:AKAM)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $95.55 and last traded at $95.52, with a volume of 29972 shares trading hands. The stock had previously closed at $93.93.

Several research analysts have issued reports on AKAM shares. BidaskClub raised shares of Akamai Technologies from a “sell” rating to a “hold” rating in a report on Friday, January 10th. Royal Bank of Canada raised their price target on shares of Akamai Technologies from $83.00 to $91.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 29th. B. Riley boosted their price objective on shares of Akamai Technologies from $102.00 to $111.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Credit Suisse Group upped their price objective on Akamai Technologies from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, Craig Hallum increased their target price on Akamai Technologies from $97.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $93.00.

The firm has a fifty day moving average price of $87.09 and a two-hundred day moving average price of $87.22. The stock has a market capitalization of $15.11 billion, a P/E ratio of 34.54, a PEG ratio of 2.08 and a beta of 0.57. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.74 and a current ratio of 3.74.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Monday, October 28th. The technology infrastructure company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.10. The company had revenue of $709.91 million during the quarter, compared to analyst estimates of $701.25 million. Akamai Technologies had a return on equity of 16.76% and a net margin of 15.98%. Akamai Technologies’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 earnings per share. On average, research analysts anticipate that Akamai Technologies, Inc. will post 3.44 earnings per share for the current fiscal year.

In other news, EVP Robert Blumofe sold 9,000 shares of Akamai Technologies stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $86.87, for a total transaction of $781,830.00. Following the transaction, the executive vice president now owns 11,874 shares in the company, valued at approximately $1,031,494.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ewout L. Steenbergen sold 1,760 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $251.19, for a total transaction of $442,094.40. Insiders have sold a total of 45,887 shares of company stock valued at $4,286,441 in the last ninety days. Insiders own 2.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKAM. Dalton Greiner Hartman Maher & Co. lifted its position in shares of Akamai Technologies by 1.3% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 73,001 shares of the technology infrastructure company’s stock valued at $6,306,000 after buying an additional 947 shares in the last quarter. Ingalls & Snyder LLC lifted its holdings in Akamai Technologies by 0.4% during the fourth quarter. Ingalls & Snyder LLC now owns 60,999 shares of the technology infrastructure company’s stock valued at $5,269,000 after purchasing an additional 272 shares in the last quarter. Perigon Wealth Management LLC boosted its position in shares of Akamai Technologies by 5.5% in the fourth quarter. Perigon Wealth Management LLC now owns 4,595 shares of the technology infrastructure company’s stock worth $402,000 after purchasing an additional 238 shares during the period. DNB Asset Management AS boosted its position in shares of Akamai Technologies by 70.6% in the fourth quarter. DNB Asset Management AS now owns 28,409 shares of the technology infrastructure company’s stock worth $2,454,000 after purchasing an additional 11,754 shares during the period. Finally, Allred Capital Management LLC purchased a new stake in shares of Akamai Technologies in the fourth quarter worth $67,000. Institutional investors own 88.95% of the company’s stock.

Akamai Technologies Company Profile (NASDAQ:AKAM)

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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