JPMorgan Chase & Co. Raises Akamai Technologies (NASDAQ:AKAM) Price Target to $125.00

Akamai Technologies (NASDAQ:AKAM) had its price target boosted by JPMorgan Chase & Co. from $122.00 to $125.00 in a report published on Wednesday, BenzingaRatingsTable reports. They currently have an overweight rating on the technology infrastructure company’s stock.

AKAM has been the subject of a number of other research reports. SunTrust Banks boosted their price target on Akamai Technologies from $108.00 to $117.00 and gave the company a buy rating in a research report on Wednesday, April 29th. William Blair reissued a buy rating on shares of Akamai Technologies in a report on Thursday, April 9th. Craig Hallum upped their price objective on Akamai Technologies from $120.00 to $130.00 and gave the company a buy rating in a research note on Wednesday. Cowen upgraded Akamai Technologies from a market perform rating to an outperform rating and increased their price target for the stock from $107.00 to $150.00 in a research report on Thursday, July 2nd. Finally, Nomura Securities reissued a hold rating and issued a $115.00 price objective (up from $100.00) on shares of Akamai Technologies in a report on Wednesday, April 15th. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Akamai Technologies currently has a consensus rating of Buy and an average target price of $117.00.

Shares of AKAM stock opened at $112.44 on Wednesday. The business’s 50 day moving average is $108.31 and its two-hundred day moving average is $99.29. Akamai Technologies has a twelve month low of $75.18 and a twelve month high of $116.39. The company has a market capitalization of $17.93 billion, a P/E ratio of 34.07, a price-to-earnings-growth ratio of 2.28 and a beta of 0.34. The company has a current ratio of 3.34, a quick ratio of 3.20 and a debt-to-equity ratio of 0.65.

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

In other news, CFO Edward J. Mcgowan sold 4,068 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $98.00, for a total transaction of $398,664.00. Following the completion of the transaction, the chief financial officer now owns 17,459 shares of the company’s stock, valued at $1,710,982. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rick M. Mcconnell sold 11,120 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $96.00, for a total transaction of $1,067,520.00. Following the transaction, the insider now directly owns 38,747 shares of the company’s stock, valued at approximately $3,719,712. The disclosure for this sale can be found here. Insiders have sold a total of 37,992 shares of company stock worth $3,849,989 in the last quarter. 2.40% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lathrop Investment Management Corp bought a new position in Akamai Technologies during the first quarter worth $2,021,000. Engineers Gate Manager LP bought a new position in Akamai Technologies during the first quarter worth $476,000. Cubist Systematic Strategies LLC bought a new position in Akamai Technologies during the fourth quarter worth $304,000. GHP Investment Advisors Inc. raised its stake 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 worth $3,493,000 after buying an additional 1,892 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in Akamai Technologies by 41.6% during 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 last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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