Akamai Technologies (AKAM) is Reiterated by FBR Capital to Underperform, Raises Price Target to $ 43

Akamai Technologies (AKAM) was Reiterated by FBR Capital to “Underperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 43 from a previous price target of $42 . FBR Capital advised their investors in a research report released on Apr 28, 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 .Akamai Technologies was Downgraded by Craig Hallum to ” Hold” on Apr 27, 2016. RBC Capital Mkts Initiated Akamai Technologies on Mar 24, 2016 to “Sector Perform”, Price Target of the shares are set at $62.

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 opened for trading at $52.1 and hit $57.5 on the upside on Wednesday, eventually ending the session at $54.85, with a gain of 4.16% or 2.19 points. The heightened volatility saw the trading volume jump to 69,39,678 shares. Company has a market cap of $9,695 M.

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 Company’s 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 Company’s core content and application delivery technologies of the Company to make the Internet work better. Service and Support Solutions offer professional services and solutions.

Akamai Technologies

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