Akamai Technologies (NASDAQ:AKAM) received a $102.00 price objective from B. Riley in a research note issued on Monday, TipRanks reports. The firm currently has a “buy” rating on the technology infrastructure company’s stock. B. Riley’s price objective would suggest a potential upside of 13.84% from the stock’s current price.

AKAM has been the subject of several other research reports. Credit Suisse Group boosted their target price on shares of Akamai Technologies from $75.00 to $81.00 and gave the company a “sell” rating in a research note on Wednesday, July 31st. Piper Jaffray Companies set a $97.00 target price on shares of Akamai Technologies and gave the company a “buy” rating in a report on Monday, August 12th. Nomura raised their price target on shares of Akamai Technologies from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Oppenheimer lifted their price target on shares of Akamai Technologies from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada set a $83.00 target price on shares of Akamai Technologies and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $87.81.

Akamai Technologies stock traded up $1.32 during mid-day trading on Monday, hitting $89.60. 1,211,856 shares of the company were exchanged, compared to its average volume of 1,302,694. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.95 and a quick ratio of 2.95. The business’s 50 day simple moving average is $87.58 and its two-hundred day simple moving average is $79.28. The company has a market capitalization of $14.57 billion, a P/E ratio of 32.46, a PEG ratio of 1.84 and a beta of 0.62. Akamai Technologies has a 12-month low of $57.18 and a 12-month high of $93.12.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, July 30th. The technology infrastructure company reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.30. Akamai Technologies had a return on equity of 16.32% and a net margin of 15.12%. The company had revenue of $705.07 million during the quarter, compared to analysts’ expectations of $695.88 million. During the same period in the previous year, the firm posted $0.83 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts predict that Akamai Technologies will post 3.31 earnings per share for the current year.

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 3,247 shares of Akamai Technologies stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $89.08, for a total value of $289,242.76. Following the transaction, the chief financial officer now owns 8,795 shares in the company, valued at approximately $783,458.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Adam Karon sold 3,500 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $85.00, for a total transaction of $297,500.00. Following the sale, the executive vice president now directly owns 9,418 shares of the company’s stock, valued at $800,530. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. River & Mercantile Asset Management LLP purchased a new position in shares of Akamai Technologies in the 2nd quarter worth about $4,375,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Akamai Technologies in the 2nd quarter valued at about $239,000. Hancock Whitney Corp grew its holdings in shares of Akamai Technologies by 37.9% during the 2nd quarter. Hancock Whitney Corp now owns 27,369 shares of the technology infrastructure company’s stock worth $2,193,000 after purchasing an additional 7,526 shares during the period. Treasurer of the State of North Carolina grew its holdings in shares of Akamai Technologies by 1.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 67,130 shares of the technology infrastructure company’s stock worth $5,380,000 after purchasing an additional 640 shares during the period. Finally, Verition Fund Management LLC grew its holdings in shares of Akamai Technologies by 10.9% during the 2nd quarter. Verition Fund Management LLC now owns 32,850 shares of the technology infrastructure company’s stock worth $2,633,000 after purchasing an additional 3,237 shares during the period. Hedge funds and other institutional investors own 87.38% of the company’s stock.

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.

See Also: Hedge Funds

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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