MKM Partners Increases Akamai Technologies (AKAM) Price Target to $65.00

Akamai Technologies (NASDAQ:AKAM) had its target price hoisted by research analysts at MKM Partners to $65.00 in a report issued on Friday. The firm presently has a “buy” rating on the technology infrastructure company’s stock. MKM Partners’ target price indicates a potential upside of 16.51% from the stock’s previous close.

A number of other equities analysts have also commented on AKAM. TheStreet raised Akamai Technologies from a “c” rating to a “b-” rating in a research note on Tuesday, November 14th. B. Riley reissued a “buy” rating and issued a $66.00 price objective on shares of Akamai Technologies in a research note on Thursday, October 12th. BidaskClub lowered Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Vetr lowered Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $52.07 price objective on the stock. in a research note on Wednesday, September 13th. Finally, Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $53.00 to $54.00 in a research note on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $60.64.

Shares of Akamai Technologies (NASDAQ:AKAM) opened at $55.79 on Friday. Akamai Technologies has a 1 year low of $44.65 and a 1 year high of $71.64. The stock has a market capitalization of $9,436.99, a P/E ratio of 29.06, a PEG ratio of 2.21 and a beta of 0.67. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The firm had revenue of $621.00 million for the quarter, compared to analysts’ expectations of $610.66 million. During the same period in the prior year, the business posted $0.68 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. analysts predict that Akamai Technologies will post 1.89 EPS for the current year.

In related news, CEO F Thomson Leighton purchased 19,670 shares of Akamai Technologies stock in a transaction that occurred on Monday, October 16th. The stock was purchased at an average cost of $50.83 per share, with a total value of $999,826.10. Following the completion of the transaction, the chief executive officer now owns 226,950 shares of the company’s stock, valued at approximately $11,535,868.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Aaron Ahola sold 2,893 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $52.44, for a total value of $151,708.92. Following the transaction, the senior vice president now directly owns 8,046 shares of the company’s stock, valued at $421,932.24. The disclosure for this sale can be found here. Insiders sold 31,181 shares of company stock valued at $1,614,560 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Akamai Technologies by 2.6% in the second quarter. Vanguard Group Inc. now owns 16,562,553 shares of the technology infrastructure company’s stock valued at $824,981,000 after buying an additional 424,152 shares during the last quarter. First Trust Advisors LP lifted its holdings in Akamai Technologies by 2.3% during the 3rd quarter. First Trust Advisors LP now owns 4,959,149 shares of the technology infrastructure company’s stock worth $241,610,000 after purchasing an additional 109,826 shares during the last quarter. Fairpointe Capital LLC lifted its holdings in Akamai Technologies by 44.0% during the 2nd quarter. Fairpointe Capital LLC now owns 3,212,227 shares of the technology infrastructure company’s stock worth $160,001,000 after purchasing an additional 981,069 shares during the last quarter. King Luther Capital Management Corp lifted its holdings in Akamai Technologies by 13.2% during the 2nd quarter. King Luther Capital Management Corp now owns 2,320,833 shares of the technology infrastructure company’s stock worth $115,601,000 after purchasing an additional 269,793 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its holdings in Akamai Technologies by 83.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 1,908,864 shares of the technology infrastructure company’s stock worth $95,080,000 after purchasing an additional 867,795 shares during the last quarter. 86.57% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This article was first posted by Community Financial News and is owned by of Community Financial News. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.com-unik.info/2017/12/03/mkm-partners-increases-akamai-technologies-akam-price-target-to-65-00.html.

About Akamai Technologies

Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

What are top analysts saying about Akamai Technologies Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Akamai Technologies Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit