Akamai Technologies (AKAM) was Downgraded by Craig Hallum to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Craig Hallum advised their investors in a research report released on Apr 27, 2016.
Many Wall Street Analysts have commented on Akamai Technologies. Shares were Reiterated by RBC Capital Mkts on Apr 27, 2016 to “Sector Perform” and Lowered the Price Target to $ 59 from a previous price target of $62 .RBC Capital Mkts Initiated Akamai Technologies on Mar 24, 2016 to “Sector Perform”, Price Target of the shares are set at $62.Akamai Technologies was Initiated by Stifel to “Hold” on Mar 24, 2016.
On the company’s financial health, Akamai Technologies reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.63. The company had revenue of $567.73 million for the quarter, compared to analysts expectations of $564.26 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS.
Akamai Technologies closed down -0.23 points or -0.45% at $51.13 with 29,87,927 shares getting traded on Friday. Post opening the session at $51.26, the shares hit an intraday low of $50.64 and an intraday high of $51.81 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Apr 18, 2016, F Thomson Leighton (CEO) purchased 19,546 shares at $51.15 per share price. According to the SEC, on Apr 4, 2016, Melanie Haratunian (EVP and General Counsel) sold 10,419 shares at $54.66 per share price. On Mar 14, 2016, James Gemmell (EVP & Chief HR Officer) sold 1,998 shares at $55.26 per share price, according to the Form-4 filing with the securities and exchange commission.
Akamai Technologies Inc. is a provider of cloud services for delivering optimizing and securing online content and business applications. Its solutions include delivery of conventional content on Websites tools that support the delivery and operation of cloud-based applications as well as security solutions and live and on-demand streaming video capabilities. The Companys solutions include Media Delivery Solutions Performance and Security Solutions and Service and Support Solutions. Media Delivery Solutions are designed to enable enterprises to execute their digital media distribution strategies. Performance and Security Solutions are designed to utilize the Companys core content and application delivery technologies of the Company to make the Internet work better. Service and Support Solutions offer professional services and solutions.