Akamai Technologies (NASDAQ:AKAM) Price Target Increased to $130.00 by Analysts at DA Davidson
Akamai Technologies (NASDAQ:AKAM) had its price objective upped by DA Davidson from $115.00 to $130.00 in a report released on Wednesday morning, The Fly reports. DA Davidson currently has a buy rating on the technology infrastructure company’s stock.
Several other research firms have also recently issued reports on AKAM. Credit Suisse Group restated a hold rating on shares of Akamai Technologies in a report on Wednesday, April 29th. Zacks Investment Research lowered 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. Craig Hallum upped their price objective on shares of Akamai Technologies from $115.00 to $120.00 and gave the company a buy rating in a research note on Wednesday, April 29th. Cowen upgraded shares of Akamai Technologies from a market perform rating to an outperform rating and increased their price objective for the stock from $107.00 to $150.00 in a report on Thursday, July 2nd. Finally, Royal Bank of Canada restated a hold rating and issued a $91.00 target price on shares of Akamai Technologies in a report on Thursday, April 16th. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $117.00.
Shares of AKAM stock opened at $112.44 on Wednesday. The company has a market capitalization of $18.25 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 2.32 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. The firm has a 50-day moving average price of $108.31 and a 200 day moving average price of $99.29. Akamai Technologies has a twelve month low of $75.18 and a twelve month high of $116.39.
In other Akamai Technologies news, CFO Edward J. Mcgowan sold 2,516 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $116.00, for a total value of $291,856.00. Following the completion of the transaction, the chief financial officer now owns 5,129 shares in the company, valued at approximately $594,964. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Rick M. Mcconnell sold 11,120 shares of the stock in a transaction that occurred 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 completion of the sale, 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. In the last quarter, insiders sold 37,992 shares of company stock valued at $3,849,989. Insiders own 2.40% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AKAM. National Asset Management Inc. increased its stake in Akamai Technologies by 64.7% during the 2nd quarter. National Asset Management Inc. now owns 10,542 shares of the technology infrastructure company’s stock worth $1,131,000 after buying an additional 4,140 shares during the period. Comerica Bank grew its stake in shares of Akamai Technologies by 30.4% during the second quarter. Comerica Bank now owns 61,391 shares of the technology infrastructure company’s stock valued at $6,987,000 after acquiring an additional 14,301 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA acquired a new stake in shares of Akamai Technologies during the second quarter valued at about $5,896,000. Ingalls & Snyder LLC increased its position in shares of Akamai Technologies by 0.3% during the second quarter. Ingalls & Snyder LLC now owns 45,538 shares of the technology infrastructure company’s stock worth $4,877,000 after acquiring an additional 155 shares during the last quarter. Finally, Vivid Financial Management Inc. lifted its stake in shares of Akamai Technologies by 94.8% in the second quarter. Vivid Financial Management Inc. now owns 5,423 shares of the technology infrastructure company’s stock worth $581,000 after acquiring an additional 2,639 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.
About Akamai Technologies
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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