Some Traders Are Very Bullish on Akamai Technologies, Inc. (AKAM) After Forming Bullish Double Top Chart Pattern

May 27, 2018 - By Winifred Garcia

Akamai Technologies, Inc. (NASDAQ:AKAM) Logo

Investors sentiment decreased to 0.82 in 2017 Q4. Its down 0.17, from 0.99 in 2017Q3. It dived, as 45 investors sold Akamai Technologies, Inc. shares while 173 reduced holdings. 79 funds opened positions while 99 raised stakes. 142.18 million shares or 2.90% more from 138.17 million shares in 2017Q3 were reported.
Private Ocean Ltd reported 0% stake. 43,759 were accumulated by State Of Tennessee Treasury Department. Cleararc reported 4,320 shares stake. Cibc World owns 296,211 shares for 0.14% of their portfolio. Proshare Advisors Ltd reported 34,386 shares. Principal Grp Incorporated holds 256,144 shares or 0.02% of its portfolio. Meag Munich Ergo Kapitalanlagegesellschaft Mbh accumulated 8,210 shares or 0.02% of the stock. Gemmer Asset Mgmt Limited Liability Com holds 0.01% of its portfolio in Akamai Technologies, Inc. (NASDAQ:AKAM) for 328 shares. Aurora Invest Counsel reported 1.32% of its portfolio in Akamai Technologies, Inc. (NASDAQ:AKAM). Teachers Retirement System Of The State Of Kentucky holds 0.08% in Akamai Technologies, Inc. (NASDAQ:AKAM) or 101,225 shares. Commonwealth Bancshares Of Australia has invested 0% in Akamai Technologies, Inc. (NASDAQ:AKAM). Moreover, First Quadrant Limited Partnership Ca has 0.13% invested in Akamai Technologies, Inc. (NASDAQ:AKAM). Bank Of Montreal Can holds 96,287 shares or 0.01% of its portfolio. Prudential Incorporated has invested 0.02% in Akamai Technologies, Inc. (NASDAQ:AKAM). Black Creek Investment invested 1.29% of its portfolio in Akamai Technologies, Inc. (NASDAQ:AKAM).

Since December 13, 2017, it had 1 buying transaction, and 12 sales for $7.47 million activity. LEIGHTON F THOMSON had bought 17,537 shares worth $999,784. On Monday, March 5 Wheaton William sold $350,000 worth of Akamai Technologies, Inc. (NASDAQ:AKAM) or 5,000 shares. Another trade for 8,430 shares valued at $564,810 was sold by Gemmell James. The insider Blumofe Robert sold $593,317.

The chart of Akamai Technologies, Inc. (AKAM) shows a double top with $79.57 target or 4.00 % above today’s $76.51 share price. The 7 months chart pattern indicates low risk for the $13.06 billion company. It was reported on May, 27 by Finviz.com. If the $79.57 price target is reached, the company will be worth $522.20 million more. Double tops are rare but powerful chart patterns.

The stock decreased 1.25% or $0.97 during the last trading session, reaching $76.51. About 946,870 shares traded. Akamai Technologies, Inc. (NASDAQ:AKAM) has risen 12.14% since May 27, 2017 and is uptrending. It has outperformed by 0.59% the S&P500.

Analysts await Akamai Technologies, Inc. (NASDAQ:AKAM) to report earnings on July, 24. They expect $0.60 earnings per share, up 39.53 % or $0.17 from last year’s $0.43 per share. AKAM’s profit will be $102.38 million for 31.88 P/E if the $0.60 EPS becomes a reality. After $0.58 actual earnings per share reported by Akamai Technologies, Inc. for the previous quarter, Wall Street now forecasts 3.45 % EPS growth.

Akamai Technologies, Inc. (NASDAQ:AKAM) Ratings Coverage

Among 17 analysts covering Akamai (NASDAQ:AKAM), 12 have Buy rating, 0 Sell and 5 Hold. Therefore 71% are positive. Akamai had 30 analyst reports since November 30, 2017 according to SRatingsIntel. The stock has “Buy” rating by Craig Hallum on Tuesday, December 19. The stock of Akamai Technologies, Inc. (NASDAQ:AKAM) earned “Hold” rating by SunTrust on Wednesday, December 6. The firm has “Neutral” rating by Nomura given on Friday, February 2. As per Friday, March 9, the company rating was maintained by Robert W. Baird. The rating was upgraded by J.P. Morgan to “Buy” on Friday, March 9. The company was maintained on Wednesday, February 7 by SunTrust. The stock of Akamai Technologies, Inc. (NASDAQ:AKAM) has “Equal-Weight” rating given on Thursday, March 29 by Morgan Stanley. Guggenheim maintained Akamai Technologies, Inc. (NASDAQ:AKAM) rating on Tuesday, January 30. Guggenheim has “Buy” rating and $74.0 target. The stock of Akamai Technologies, Inc. (NASDAQ:AKAM) earned “Overweight” rating by JP Morgan on Tuesday, May 1. The stock has “Buy” rating by FBR Capital on Wednesday, February 7.

Akamai Technologies, Inc. provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. The company has market cap of $13.06 billion. The firm offers Web and mobile performance solutions, such as Ion, a situational performance solution that consists of an integrated suite of Web delivery, acceleration, and optimization technologies; Dynamic Site Accelerator that helps in consistent Website performance; IP Application Accelerator to enable enterprises to deliver Internet Protocol applications; Global Traffic Management, a fault-tolerant solution; Image Manager that automatically optimizes online images; and Cloudlets, which provides self-serviceable controls and capabilities. It has a 60.72 P/E ratio. It also provides cloud security solutions, including Kona Site Defender, Bot Manager, Fast Domain Name System, Prolexic Routed, and Client Reputation; enterprise solutions comprising Enterprise Application Access and Akamai Cloud Connect.

Akamai Technologies, Inc. (NASDAQ:AKAM) Ratings Chart

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