Raymond James Increases Akamai Technologies (NASDAQ:AKAM) Price Target to $117.00
Akamai Technologies (NASDAQ:AKAM) had its price target lifted by Raymond James from $110.00 to $117.00 in a research note published on Wednesday, The Fly reports. Raymond James currently has an outperform rating on the technology infrastructure company’s stock.
Other research analysts also recently issued research reports about the company. B. Riley increased their price target on Akamai Technologies from $120.00 to $125.00 and gave the company a buy rating in a report on Wednesday, April 29th. Royal Bank of Canada reiterated a hold rating and set a $91.00 target price on shares of Akamai Technologies in a research note on Thursday, April 16th. SunTrust Banks lifted their price target on shares of Akamai Technologies from $108.00 to $117.00 and gave the stock a buy rating in a research note on Wednesday, April 29th. William Blair reiterated a buy rating on shares of Akamai Technologies in a research note on Thursday, April 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Akamai Technologies from $110.00 to $122.00 and gave the stock an overweight rating in a research report on Friday, July 10th. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $117.00.
NASDAQ AKAM opened at $112.44 on Wednesday. The stock has a market cap of $18.25 billion, a P/E ratio of 28.83, a PEG ratio of 2.32 and a beta of 0.34. The company’s fifty day simple moving average is $108.31 and its 200-day simple moving average is $99.29. 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 has a 52 week low of $75.18 and a 52 week high of $116.39.
In other news, insider Rick M. Mcconnell sold 11,120 shares of Akamai Technologies stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $96.00, for a total transaction of $1,067,520.00. Following the sale, the insider now owns 38,747 shares of the company’s stock, valued at $3,719,712. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Edward J. Mcgowan sold 4,068 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $98.00, for a total value of $398,664.00. Following the transaction, the chief financial officer now owns 17,459 shares of the company’s stock, valued at $1,710,982. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,992 shares of company stock valued at $3,849,989. Corporate insiders own 2.40% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of AKAM. Lathrop Investment Management Corp bought a new stake in shares of Akamai Technologies during the first quarter valued at about $2,021,000. Engineers Gate Manager LP acquired a new position in Akamai Technologies during the 1st quarter valued at about $476,000. Cubist Systematic Strategies LLC bought a new stake in shares of Akamai Technologies during the 4th quarter worth about $304,000. GHP Investment Advisors Inc. lifted its stake in shares of Akamai Technologies by 5.2% in the 1st quarter. GHP Investment Advisors Inc. now owns 38,182 shares of the technology infrastructure company’s stock worth $3,493,000 after acquiring an additional 1,892 shares during the period. Finally, HighTower Advisors LLC boosted its holdings 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 valued at $1,025,000 after acquiring an additional 3,324 shares in the last quarter. 86.99% of the stock is currently owned by 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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