Akamai Technologies, Inc. (AKAM) Earns Buy Rating from Piper Jaffray Companies

Piper Jaffray Companies restated their buy rating on shares of Akamai Technologies, Inc. (NASDAQ:AKAM) in a research report sent to investors on Wednesday. Piper Jaffray Companies currently has a $74.00 price objective on the technology infrastructure company’s stock.

A number of other equities analysts have also recently commented on the stock. JMP Securities boosted their price target on shares of Akamai Technologies from $73.00 to $77.00 and gave the stock an outperform rating in a research note on Wednesday, February 8th. B. Riley reissued a buy rating and issued a $75.00 price target on shares of Akamai Technologies in a research note on Wednesday. Morgan Stanley cut their price target on shares of Akamai Technologies from $70.00 to $68.00 and set an equal weight rating for the company in a research note on Wednesday, February 8th. Zacks Investment Research cut shares of Akamai Technologies from a buy rating to a hold rating in a research note on Friday, January 20th. Finally, Wells Fargo & Company assumed coverage on shares of Akamai Technologies in a research note on Wednesday, January 11th. They issued an outperform rating for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $67.51.

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

Akamai Technologies (NASDAQ:AKAM) opened at 63.95 on Wednesday. The company’s 50-day moving average is $68.37 and its 200-day moving average is $60.80. The company has a market cap of $11.06 billion, a P/E ratio of 35.73 and a beta of 0.95. Akamai Technologies has a 52 week low of $47.80 and a 52 week high of $71.64.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, February 7th. The technology infrastructure company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The company earned $616 million during the quarter, compared to analysts’ expectations of $605.57 million. Akamai Technologies had a net margin of 13.51% and a return on equity of 11.45%. Akamai Technologies’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 earnings per share. On average, analysts anticipate that Akamai Technologies will post $2.80 EPS for the current fiscal year.

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In other news, EVP James Gemmell sold 2,297 shares of the firm’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $63.83, for a total transaction of $146,617.51. Following the sale, the executive vice president now owns 8,738 shares of the company’s stock, valued at approximately $557,746.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Melanie Haratunian sold 2,164 shares of the firm’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $63.83, for a total transaction of $138,128.12. Following the sale, the executive vice president now directly owns 80,785 shares in the company, valued at approximately $5,156,506.55. The disclosure for this sale can be found here. Insiders have sold a total of 46,386 shares of company stock worth $3,058,604 over the last three months. 2.70% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in AKAM. Advisory Services Network LLC increased its stake in shares of Akamai Technologies by 10.6% in the second quarter. Advisory Services Network LLC now owns 1,825 shares of the technology infrastructure company’s stock worth $102,000 after buying an additional 175 shares during the last quarter. Acrospire Investment Management LLC increased its stake in shares of Akamai Technologies by 16.7% in the third quarter. Acrospire Investment Management LLC now owns 2,100 shares of the technology infrastructure company’s stock worth $111,000 after buying an additional 300 shares during the last quarter. Private Advisor Group LLC bought a new stake in shares of Akamai Technologies during the fourth quarter worth about $205,000. Wall Street Associates bought a new stake in shares of Akamai Technologies during the fourth quarter worth about $220,000. Finally, Cadence Capital Management LLC bought a new stake in shares of Akamai Technologies during the fourth quarter worth about $228,000. 91.07% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Company Profile

Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company’s across the globe distributed platform comprises approximately 200,000 servers in over 1,400 networks in over 120 countries. It is involved in offering content delivery network (CDN) services.

5 Day Chart for NASDAQ:AKAM

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