Akamai Technologies, Inc. (NASDAQ:AKAM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Akamai Technologies, Inc. (NASDAQ:AKAM) has received a consensus recommendation of “Moderate Buy” from the twenty-two ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, fourteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $116.85.

AKAM has been the subject of several research reports. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Evercore ISI reiterated an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research note on Monday, November 11th. Robert W. Baird cut their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Finally, Scotiabank reduced their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th.

Akamai Technologies Price Performance

AKAM stock opened at $96.91 on Thursday. Akamai Technologies has a 52-week low of $84.70 and a 52-week high of $129.17. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a market cap of $14.56 billion, a price-to-earnings ratio of 28.67, a price-to-earnings-growth ratio of 3.83 and a beta of 0.65. The business has a fifty day moving average of $97.11 and a two-hundred day moving average of $96.84.

Insider Activity

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the sale, the chief financial officer now directly owns 12,716 shares in the company, valued at $1,255,196.36. The trade was a 45.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the sale, the director now directly owns 15,719 shares in the company, valued at $1,467,840.22. This represents a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,282 shares of company stock worth $1,733,716 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Akamai Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC boosted its stake in Akamai Technologies by 2.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 5,113 shares of the technology infrastructure company’s stock valued at $516,000 after purchasing an additional 102 shares during the period. Empirical Finance LLC boosted its position in shares of Akamai Technologies by 2.0% during the third quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock worth $538,000 after buying an additional 103 shares during the period. Van ECK Associates Corp boosted its position in shares of Akamai Technologies by 6.1% during the third quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock worth $189,000 after buying an additional 105 shares during the period. Farther Finance Advisors LLC grew its holdings in Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 114 shares in the last quarter. Finally, D.A. Davidson & CO. increased its position in Akamai Technologies by 1.3% in the 3rd quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock valued at $894,000 after acquiring an additional 115 shares during the period. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.