Analysts Set Akamai Technologies, Inc. (NASDAQ:AKAM) Price Target at $106.55

Akamai Technologies, Inc. (NASDAQ:AKAM) has been given a consensus rating of “Moderate Buy” by the twenty-two research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $106.55.

A number of research firms recently weighed in on AKAM. Raymond James decreased their price target on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. Royal Bank of Canada decreased their target price on shares of Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Evercore ISI restated an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a report on Tuesday, December 17th. Susquehanna decreased their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, February 21st. Finally, Craig Hallum cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a research report on Friday, February 21st.

Akamai Technologies Stock Down 3.7 %

AKAM stock opened at $70.93 on Friday. The firm has a market cap of $10.66 billion, a PE ratio of 21.76, a P/E/G ratio of 2.74 and a beta of 0.80. Akamai Technologies has a 12 month low of $69.50 and a 12 month high of $107.60. 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 firm has a 50 day simple moving average of $87.53 and a 200 day simple moving average of $93.81.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data 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 company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Equities research analysts forecast that Akamai Technologies will post 4.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 25,211 shares in the company, valued at $2,040,074.12. This represents a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO F Thomson Leighton bought 37,670 shares of Akamai Technologies stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now directly owns 137,342 shares in the company, valued at $10,929,676.36. This represents a 37.79 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 35,394 shares of company stock valued at $3,019,323 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Akamai Technologies

Several large investors have recently added to or reduced their stakes in the company. Public Sector Pension Investment Board raised its position in Akamai Technologies by 8.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 6,475 shares of the technology infrastructure company’s stock valued at $654,000 after purchasing an additional 500 shares during the last quarter. Benjamin Edwards Inc. acquired a new stake in shares of Akamai Technologies in the third quarter valued at $579,000. Centiva Capital LP bought a new position in shares of Akamai Technologies in the third quarter valued at about $325,000. Investment Management Corp of Ontario lifted its position in Akamai Technologies by 50.8% during the 3rd quarter. Investment Management Corp of Ontario now owns 5,048 shares of the technology infrastructure company’s stock worth $510,000 after buying an additional 1,700 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in Akamai Technologies by 2.8% during the 3rd quarter. Royal London Asset Management Ltd. now owns 61,863 shares of the technology infrastructure company’s stock worth $6,245,000 after acquiring an additional 1,705 shares during the last quarter. 94.28% of the stock is owned by institutional investors.

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.