B. Riley Raises Akamai Technologies (NASDAQ:AKAM) Price Target to $130.00

Akamai Technologies (NASDAQ:AKAM) had its target price upped by B. Riley from $125.00 to $130.00 in a research note released on Wednesday, The Fly reports. B. Riley also issued estimates for Akamai Technologies’ Q3 2020 earnings at $0.95 EPS.

A number of other research firms also recently issued reports on AKAM. Needham & Company LLC raised their price target on Akamai Technologies from $112.00 to $135.00 and gave the stock a buy rating in a research note on Wednesday, July 22nd. SunTrust Banks lifted their price target on Akamai Technologies from $108.00 to $117.00 and gave the company a buy rating in a research note on Wednesday, April 29th. Zacks Investment Research downgraded Akamai Technologies from a buy rating to a hold rating and set a $103.00 price target on the stock. in a research note on Thursday, April 30th. Royal Bank of Canada lifted their price target on Akamai Technologies from $94.00 to $105.00 in a research note on Wednesday. Finally, Evercore ISI initiated coverage on Akamai Technologies in a research note on Monday, April 20th. They issued an outperform rating and a $120.00 price target on the stock. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $117.00.

NASDAQ:AKAM opened at $112.44 on Wednesday. The stock’s 50 day moving average price is $108.31 and its 200 day moving average price is $99.29. The company has a market capitalization of $17.93 billion, a PE ratio of 34.07, a P/E/G ratio of 2.28 and a beta of 0.34. The company has a quick ratio of 3.20, a current ratio of 3.34 and a debt-to-equity ratio of 0.65. Akamai Technologies has a 52-week low of $75.18 and a 52-week high of $116.39.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, July 28th. The technology infrastructure company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.17. The firm had revenue of $794.72 million for the quarter, compared to the consensus estimate of $767.38 million. Akamai Technologies had a return on equity of 17.37% and a net margin of 17.82%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. As a group, sell-side analysts anticipate that Akamai Technologies will post 3.93 EPS for the current fiscal year.

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 2,516 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $116.00, for a total transaction of $291,856.00. Following the completion of the sale, the chief financial officer now owns 5,129 shares of the company’s stock, valued at $594,964. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Edward J. Mcgowan sold 797 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $105.00, for a total value of $83,685.00. Following the sale, the chief financial officer now directly owns 13,597 shares of the company’s stock, valued at approximately $1,427,685. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,992 shares of company stock valued at $3,849,989. Company insiders own 2.40% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Lathrop Investment Management Corp purchased a new stake in Akamai Technologies during the first quarter valued at about $2,021,000. Engineers Gate Manager LP purchased a new stake in Akamai Technologies during the first quarter valued at about $476,000. Cubist Systematic Strategies LLC purchased a new stake in Akamai Technologies during the fourth quarter valued at about $304,000. GHP Investment Advisors Inc. grew its position in Akamai Technologies by 5.2% during the first quarter. GHP Investment Advisors Inc. now owns 38,182 shares of the technology infrastructure company’s stock valued at $3,493,000 after acquiring an additional 1,892 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of Akamai Technologies by 41.6% in the first quarter. HighTower Advisors LLC now owns 11,317 shares of the technology infrastructure company’s stock worth $1,025,000 after buying an additional 3,324 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

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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