Akamai Technologies (AKAM) Upgraded by Vetr to “Buy”

Vetr upgraded shares of Akamai Technologies (NASDAQ:AKAM) from a hold rating to a buy rating in a research note published on Tuesday morning. Vetr currently has $68.08 price objective on the technology infrastructure company’s stock.

AKAM has been the topic of a number of other research reports. Craig Hallum upgraded shares of Akamai Technologies from a hold rating to a buy rating in a research note on Tuesday, December 19th. MKM Partners raised their price objective on shares of Akamai Technologies to $65.00 and gave the company a buy rating in a research note on Friday, December 1st. Zacks Investment Research lowered shares of Akamai Technologies from a buy rating to a hold rating in a research report on Thursday, January 4th. Piper Jaffray Companies restated a buy rating and issued a $60.00 price target on shares of Akamai Technologies in a research report on Wednesday, October 25th. Finally, Wells Fargo & Co restated a market perform rating and issued a $62.00 price target (up previously from $57.00) on shares of Akamai Technologies in a research report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and an average price target of $63.84.

Akamai Technologies (NASDAQ:AKAM) traded down $1.02 during midday trading on Tuesday, hitting $64.50. 3,788,200 shares of the company were exchanged, compared to its average volume of 2,218,490. Akamai Technologies has a fifty-two week low of $44.65 and a fifty-two week high of $71.34. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $11,000.00, a price-to-earnings ratio of 38.62, a PEG ratio of 2.65 and a beta of 0.68.

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

In other news, CEO F Thomson Leighton acquired 18,545 shares of the stock in a transaction on Wednesday, November 15th. The shares were purchased at an average cost of $53.91 per share, for a total transaction of $999,760.95. Following the transaction, the chief executive officer now owns 226,950 shares in the company, valued at approximately $12,234,874.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Aaron Ahola sold 2,893 shares of Akamai Technologies stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $52.44, for a total transaction of $151,708.92. Following the transaction, the senior vice president now owns 8,046 shares in the company, valued at $421,932.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,971 shares of company stock worth $4,141,642. Corporate insiders own 3.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of AKAM. Atria Investments LLC acquired a new stake in shares of Akamai Technologies during the 4th quarter valued at $284,000. Hexavest Inc. acquired a new stake in shares of Akamai Technologies during the 4th quarter valued at $39,344,000. Nisa Investment Advisors LLC boosted its stake in shares of Akamai Technologies by 1.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 81,950 shares of the technology infrastructure company’s stock valued at $5,329,000 after buying an additional 788 shares during the period. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of Akamai Technologies during the 4th quarter valued at $1,509,000. Finally, Aurora Investment Counsel acquired a new stake in shares of Akamai Technologies during the 4th quarter valued at $2,644,000. Hedge funds and other institutional investors own 86.36% of the company’s stock.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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