Akamai Technologies (AKAM) is Upgraded by Wells Fargo to Outperform

Akamai Technologies (AKAM) was Upgraded by Wells Fargo to ” Outperform”. Earlier the firm had a rating of “Market Perform ” on the company shares. Wells Fargo advised their investors in a research report released on Aug 12, 2016.

Many Wall Street Analysts have commented on Akamai Technologies. Shares were Reiterated by Piper Jaffray on Jul 27, 2016 to “Overweight” and Lowered the Price Target to $ 64 from a previous price target of $69 .Shares were Reiterated by FBR Capital on Jul 27, 2016 to “Underperform” and Lowered the Price Target to $ 42 from a previous price target of $43 .Akamai Technologies was Downgraded by Pacific Crest to ” Sector Weight” on Jul 27, 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 -0.45 points or -0.89% at $50.21 with 14,05,299 shares getting traded on Monday. Post opening the session at $50.78, the shares hit an intraday low of $50.05 and an intraday high of $50.94 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Aug 2, 2016, Robert Blumofe (EVP Platform) sold 2,000 shares at $50.56 per share price. According to the SEC, on Jul 28, 2016, James Gemmell (EVP & Chief HR Officer) sold 1,869 shares at $50.45 per share price. On Jul 18, 2016, F Thomson Leighton (CEO) purchased 17,456 shares at $57.28 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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