Canaccord Genuity upgraded shares of Akamai Technologies (NASDAQ:AKAM) to a buy rating in a research note issued to investors on Friday, StockRatingsNetwork reports. The firm currently has $56.00 price target on the stock, up from their previous price target of $51.00.
Shares of Akamai Technologies (NASDAQ:AKAM) traded up 0.45% on Friday, hitting $51.60. 452,609 shares of the company’s stock traded hands. Akamai Technologies has a one year low of $32.63 and a one year high of $51.93. The stock’s 50-day moving average is $47.33 and its 200-day moving average is $42.65. The company has a market cap of $9.193 billion and a P/E ratio of 37.50.
A number of other analysts have also recently weighed in on AKAM. Analysts at Macquarie reiterated an outperform rating on shares of Akamai Technologies (NASDAQ:AKAM) in a research note to investors on Thursday, August 15th. They now have a $50.00 price target on the stock, up previously from $46.00. Separately, analysts at Jefferies Group raised their price target on shares of Akamai Technologies (NASDAQ:AKAM) from $44.00 to $45.00 in a research note to investors on Thursday, July 25th. They now have a hold rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Akamai Technologies (NASDAQ:AKAM) to $35.00 in a research note to investors on Thursday, July 25th. They now have an underperform rating on the stock.
Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $47.82.
In other Akamai Technologies news, Director Martin M. Coyne II sold 2,500 shares of Akamai Technologies stock on the open market in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $49.10, for a total transaction of $122,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Akamai Technologies, Inc (NASDAQ:AKAM) provides content delivery and cloud infrastructure services for the delivery of content and applications over the Internet.
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