Piper Sandler Issues Pessimistic Forecast for Akamai Technologies (NASDAQ:AKAM) Stock Price

Akamai Technologies (NASDAQ:AKAM) had its price objective decreased by Piper Sandler from $100.00 to $80.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the technology infrastructure company’s stock. Piper Sandler’s price objective would indicate a potential upside of 4.78% from the stock’s current price.

Several other research analysts have also weighed in on AKAM. UBS Group initiated coverage on Akamai Technologies in a report on Monday, December 16th. They set a “neutral” rating and a $110.00 target price on the stock. Raymond James dropped their price objective on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, February 21st. Susquehanna lowered their target price on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, February 21st. Oppenheimer began coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They set an “outperform” rating and a $100.00 target price for the company. Finally, Citigroup lowered their price target on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $105.55.

Akamai Technologies Stock Performance

AKAM stock opened at $76.35 on Tuesday. The company has a 50 day moving average price of $85.27 and a 200 day moving average price of $93.13. Akamai Technologies has a fifty-two week low of $67.51 and a fifty-two week high of $107.12. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The stock has a market capitalization of $11.16 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 2.74 and a beta of 0.80.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. Analysts forecast that Akamai Technologies will post 4.6 EPS for the current year.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, COO Adam Karon sold 6,431 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $80.49, for a total value of $517,631.19. Following the transaction, the chief operating officer now directly owns 14,239 shares of the company’s stock, valued at $1,146,097.11. This trade represents a 31.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $80.92, for a total transaction of $323,680.00. Following the sale, the executive vice president now directly owns 25,211 shares of the company’s stock, valued at approximately $2,040,074.12. This trade represents a 13.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,394 shares of company stock worth $3,019,323. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Czech National Bank raised its holdings in shares of Akamai Technologies by 5.9% during the 1st quarter. Czech National Bank now owns 34,504 shares of the technology infrastructure company’s stock worth $2,778,000 after buying an additional 1,931 shares in the last quarter. Rhumbline Advisers grew its position in Akamai Technologies by 11.1% in the first quarter. Rhumbline Advisers now owns 307,343 shares of the technology infrastructure company’s stock valued at $24,741,000 after acquiring an additional 30,638 shares during the last quarter. Cascade Investment Advisors Inc. raised its stake in Akamai Technologies by 74.6% during the first quarter. Cascade Investment Advisors Inc. now owns 15,092 shares of the technology infrastructure company’s stock worth $1,215,000 after acquiring an additional 6,447 shares in the last quarter. IVC Wealth Advisors LLC lifted its holdings in shares of Akamai Technologies by 17.3% in the first quarter. IVC Wealth Advisors LLC now owns 4,240 shares of the technology infrastructure company’s stock worth $341,000 after acquiring an additional 625 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Akamai Technologies by 5,951.4% in the first quarter. GAMMA Investing LLC now owns 253,978 shares of the technology infrastructure company’s stock valued at $20,445,000 after buying an additional 249,781 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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.