Could Akamai Technologies, Inc. (AKAM) See a Reversal After Having Formed Several Months Bullish Double Top Pattern

May 16, 2018 - By Peter Erickson

Akamai Technologies, Inc. (NASDAQ:AKAM) Logo

Investors sentiment decreased to 0.82 in Q4 2017. 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.
Atlantic Trust Gp Limited Liability Company has 0% invested in Akamai Technologies, Inc. (NASDAQ:AKAM). North Star Asset Mngmt reported 1.31% stake. Shell Asset Mgmt Communications holds 9,938 shares. Hsbc Public Limited, a United Kingdom-based fund reported 1.13M shares. Utah Retirement Systems accumulated 30,596 shares or 0.04% of the stock. France-based Bnp Paribas Asset Sa has invested 0.08% in Akamai Technologies, Inc. (NASDAQ:AKAM). Wasatch Advisors Inc holds 16,000 shares. First Quadrant L P Ca stated it has 0.13% of its portfolio in Akamai Technologies, Inc. (NASDAQ:AKAM). Endurance Wealth Management reported 182,758 shares stake. Dynamic Mngmt Ltd holds 140,736 shares or 3.15% of its portfolio. Qs Investors Ltd Company owns 6,202 shares for 0% of their portfolio. Private Ocean Ltd Co has 32 shares. Gsa Capital Prtn Llp accumulated 6,386 shares. Champlain Invest Prtn Limited Liability Com reported 853,445 shares. Moreover, Ing Groep Nv has 0.05% invested in Akamai Technologies, Inc. (NASDAQ:AKAM) for 43,123 shares.

Since December 13, 2017, it had 1 insider buy, and 12 selling transactions for $7.47 million activity. On Friday, December 15 LEIGHTON F THOMSON bought $999,784 worth of Akamai Technologies, Inc. (NASDAQ:AKAM) or 17,537 shares. $283,120 worth of stock was sold by Blumofe Robert on Wednesday, May 2. The insider Gemmell James sold $564,810. MCCONNELL RICK M had sold 48,369 shares worth $2.75 million on Wednesday, December 13.

The chart of Akamai Technologies, Inc. (AKAM) shows a double top with $78.74 target or 4.00 % above today’s $75.71 share price. The 9 months chart pattern indicates low risk for the $12.92B company. It was reported on May, 16 by Finviz.com. If the $78.74 price target is reached, the company will be worth $516.72 million more. Double tops are rare but powerful chart patterns.

The stock decreased 0.76% or $0.58 during the last trading session, reaching $75.71. About 252,898 shares traded. Akamai Technologies, Inc. (NASDAQ:AKAM) has risen 12.14% since May 16, 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 EPS, up 39.53 % or $0.17 from last year’s $0.43 per share. AKAM’s profit will be $102.37M for 31.55 P/E if the $0.60 EPS becomes a reality. After $0.58 actual EPS 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 of Akamai Technologies, Inc. (NASDAQ:AKAM) earned “Buy” rating by FBR Capital on Monday, December 18. Robert W. Baird maintained the stock with “Hold” rating in Friday, March 9 report. The company was maintained on Wednesday, February 7 by FBR Capital. The stock has “Sector Weight” rating by KeyBanc Capital Markets on Thursday, March 15. Cowen & Co upgraded Akamai Technologies, Inc. (NASDAQ:AKAM) on Thursday, March 8 to “Outperform” rating. The firm earned “Hold” rating on Wednesday, December 6 by SunTrust. Craig Hallum upgraded the stock to “Buy” rating in Tuesday, December 19 report. The firm earned “Equal-Weight” rating on Thursday, March 29 by Morgan Stanley. KeyBanc Capital Markets downgraded the stock to “Sell” rating in Thursday, January 11 report. The stock of Akamai Technologies, Inc. (NASDAQ:AKAM) has “Buy” rating given on Tuesday, May 1 by Craig Hallum.

More notable recent Akamai Technologies, Inc. (NASDAQ:AKAM) news were published by: Schaeffersresearch.com which released: “Akamai Technologies Stock Tends to Make Big Moves After Earnings” on April 27, 2018, also Globenewswire.com with their article: “Report: Developing Opportunities within BB&T, Summit Materials, Archer Daniels Midland, Helix Energy, Frontier …” published on May 10, 2018, Streetinsider.com published: “Elliott’s 13F Shows New Stake in Commault (CVLT), Dish (DISH), Micro Focus (MFGP) (more…)” on May 15, 2018. More interesting news about Akamai Technologies, Inc. (NASDAQ:AKAM) were released by: Streetinsider.com and their article: “Speculative Bullish Options Activity in Akamai Technologies (AKAM) Ahead of Industry Conference Next Week …” published on May 09, 2018 as well as Prnewswire.com‘s news article titled: “Akamai Announces Proposed Offering of Convertible Senior Notes” with publication date: May 15, 2018.

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 $12.92 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 60.09 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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