Akamai Technologies, Inc. (NASDAQ:AKAM):
Akamai Acquires Data Processing Provider Concord Systems.
The company is up since yesterday’s close of $51.76.
Company shares last traded at $52.65 barely below the 50 day moving average which is $52.91 and just below the 200 day moving average of $53.31. The 50 day moving average went down by -0.49% whereas the 200 day average was down by -1.24%.
The P/E ratio is currently 28.90 and market capitalization is 9.20B. As of the latest earnings report the EPS was $1.82 and is projected to be $2.57 for the current year with 174,724,000 shares outstanding. Analysts expect next quarter’s EPS to be $0.66 with next year’s EPS projected to be $2.86.
Short traders are more bullish on shares of the company of late at least if you consider the change in short interest. The company experienced a fall in short interest from August 31, 2016 to September 15, 2016 of -0.01%. Short interest decreased 121,821 over that period. With short interest at 11,738,704 and short average daily volume at 2,220,537, the short-interest ratio is 5.3 and the short interest percentage is 0.07% as of September 15.
Several investment analysts have weighed in on Akamai Technologies, Inc. of late. On August 12 the company was upgraded to “Outperform” from “” in a report issued by Wells Fargo. On July 27 the stock rating was downgraded from “Outperform” to “Sector Weight” by Pacific Crest.
On July 21 analysts at SunTrust Robinson Humphrey issued its first research report on the stock setting a rating of “Buy” and a price target of $66.00. On April 27 the company was changed to a “Hold” in a report from Craig-Hallum down from the previous “Buy” rating.
Equity analyst RBC Capital starting coverage on AKAM giving it an initial rating of “Sector Perform” and establishing a price target of $62.00. Stifel Nicolaus began coverage with a rating of “Hold”.