Akamai Technologies (NASDAQ:AKAM) Given New $81.00 Price Target at Nomura

Akamai Technologies (NASDAQ:AKAM) had its price objective hoisted by Nomura from $75.00 to $81.00 in a note issued to investors on Wednesday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the technology infrastructure company’s stock. Nomura’s price target would indicate a potential downside of 9.27% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Morgan Stanley reissued a “buy” rating and set a $60.00 price objective on shares of The Coca-Cola in a research note on Wednesday. Needham & Company LLC assumed coverage on shares of Trade Desk in a research note on Monday, April 22nd. They set a “hold” rating and a $211.03 price objective on the stock. BidaskClub lowered shares of Woodward, Inc.Common Stock from a “strong-buy” rating to a “buy” rating in a research note on Saturday. DA Davidson dropped their price objective on shares of Broadcom to $300.00 and set a “buy” rating on the stock in a research note on Friday, June 14th. Finally, Evercore ISI reissued a “hold” rating and set a $70.00 price objective on shares of Akamai Technologies in a research note on Thursday, June 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $84.63.

Shares of AKAM traded up $5.25 during trading hours on Wednesday, reaching $89.28. 1,666,736 shares of the company traded hands, compared to its average volume of 873,395. The firm has a fifty day moving average price of $81.10. The stock has a market cap of $13.77 billion, a P/E ratio of 32.35, a price-to-earnings-growth ratio of 1.77 and a beta of 0.63. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.19 and a quick ratio of 3.19. Akamai Technologies has a 12 month low of $57.18 and a 12 month high of $86.19.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, July 30th. The technology infrastructure company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.77 by $0.30. Akamai Technologies had a net margin of 12.78% and a return on equity of 15.29%. The business had revenue of $705.07 million for the quarter, compared to analyst estimates of $695.88 million. During the same quarter in the previous year, the firm posted $0.83 earnings per share. Akamai Technologies’s quarterly revenue was up 6.4% on a year-over-year basis. Equities analysts anticipate that Akamai Technologies will post 3.23 earnings per share for the current fiscal year.

In other news, EVP Adam Karon sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $77.00, for a total transaction of $616,000.00. Following the completion of the transaction, the executive vice president now directly owns 16,418 shares of the company’s stock, valued at $1,264,186. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Blumofe sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $80.95, for a total transaction of $404,750.00. The disclosure for this sale can be found here. Insiders sold 19,500 shares of company stock valued at $1,533,970 over the last ninety days. Corporate insiders own 2.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Opes Wealth Management LLC bought a new position in shares of Akamai Technologies in the second quarter worth approximately $513,000. KBC Group NV boosted its position in shares of Akamai Technologies by 1.3% during the second quarter. KBC Group NV now owns 403,069 shares of the technology infrastructure company’s stock worth $32,302,000 after acquiring an additional 5,185 shares during the last quarter. Ascent Wealth Partners LLC boosted its position in shares of Akamai Technologies by 4.0% during the second quarter. Ascent Wealth Partners LLC now owns 16,808 shares of the technology infrastructure company’s stock worth $1,347,000 after acquiring an additional 644 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Akamai Technologies by 30.1% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 307,273 shares of the technology infrastructure company’s stock worth $24,625,000 after acquiring an additional 71,103 shares during the last quarter. Finally, Moloney Securities Asset Management LLC boosted its position in shares of Akamai Technologies by 23.5% during the second quarter. Moloney Securities Asset Management LLC now owns 20,040 shares of the technology infrastructure company’s stock worth $1,606,000 after acquiring an additional 3,809 shares during the last quarter. 87.72% of the stock is owned by hedge funds and other institutional investors.

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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