FBR & Co’s target price indicates a potential downside of 27.70% from the stock’s current price.
Advertisement
AKAM has been the subject of several other research reports.
The stock has gotten at least one downgrade this morning, from Pacific Crest’s Michael Bowen, who cut his rating on the stock to Sector Weight from Overweight, and stripped away his $71 price target, writing that revenue from top customers such as Apple (AAPL) and Facebook (FB) is declining while competition increases.
Today analysts at Goldman Sachs maintained Akamai Technologies, Inc.’s (NASDAQ:AKAM) shares as “Sell” in a report released to investors. And roundups of analyst notes show that 8 are rating the stock a buy while 5 rate AKAM a strong buy. Akamai Technologies has an average rating of “Buy” and a consensus price target of $63.93. The shares were acquired at an average price of $51.28 per share, with a total value of $999,806.16. (NASDAQ:AKAM), according to U.S. Securities and Exchange Commission (SEC) filings. Also, insider Rick M. Mcconnell sold 3,550 shares of the company’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $58.00, for a total transaction of $205,900.00. Following the completion of the sale, the insider now directly owns 48,926 shares in the company, valued at $2,837,708. The disclosure for this purchase can be found here. Taking a closer look at the daily chart we can see that AKAM has been in an upward trend dating back to May 5th when it traded at $49.51. The heightened volatility saw the trading volume jump to 11,64,647 shares. The stock has a 50 day moving average of $55.30 and a 200-day moving average of $52.41. MKM Partners reiterated a “buy” rating and issued a $68.00 target price on shares of Akamai Technologies in a report on Saturday, July 9th.
The company said its bottom line advanced to $112.07 million, or $0.64 per share. However a year ago for the same quarter the company has reported $0.57 earnings per share. The consensus estimate of $1.19 billion is same as that of Estimize.
Advertisement
The number of Akamai Technologies, Inc. shares in issue is 175,591,000 which have a current share price of 58.09 bringing Akamai Technologies, Inc.’s market capitalisation to 10.20B Dollars. Checchi Capital Advisers LLC now owns 2,834 shares of the technology infrastructure company’s stock valued at $159,000 after buying an additional 24 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Akamai Technologies by 2.7% in the first quarter. Vanguard Group Inc. now owns 14,604,158 shares of the technology infrastructure company’s stock worth $768,617,000 after buying an additional 370,181 shares during the period. Candriam Luxembourg S.C.A. raised its stake in Akamai Technologies by 18.0% in the second quarter. Independent Portfolio Consultants Inc. boosted its position in Akamai Technologies by 56.6% in the second quarter. Finally, Financial Architects Inc boosted its position in Akamai Technologies by 525.8% in the second quarter.
