Akamai Technologies, Inc. (NASDAQ:AKAM) Receives $101.25 Consensus Target Price from Analysts

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have been given an average rating of “Moderate Buy” by the twenty-two ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $101.25.

Several brokerages recently issued reports on AKAM. Wall Street Zen cut shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Saturday. UBS Group upped their price objective on shares of Akamai Technologies from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Scotiabank dropped their price objective on shares of Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating for the company in a research note on Friday, May 9th. Citigroup decreased their target price on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Finally, Oppenheimer assumed coverage on shares of Akamai Technologies in a report on Thursday, March 20th. They issued an “outperform” rating and a $100.00 target price on the stock.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, COO Adam Karon sold 3,927 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $85.02, for a total transaction of $333,873.54. Following the sale, the chief operating officer now directly owns 10,809 shares in the company, valued at $918,981.18. This represents a 26.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kim Salem-Jackson sold 13,157 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the sale, the executive vice president now owns 43,575 shares in the company, valued at approximately $3,326,079.75. This trade represents a 23.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Akamai Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Akamai Technologies by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 18,673,358 shares of the technology infrastructure company’s stock worth $1,503,205,000 after buying an additional 425,461 shares in the last quarter. First Trust Advisors LP increased its position in shares of Akamai Technologies by 15.6% in the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock valued at $489,383,000 after purchasing an additional 690,341 shares during the last quarter. Norges Bank purchased a new stake in shares of Akamai Technologies in the 4th quarter valued at approximately $477,454,000. Edmond DE Rothschild Holding S.A. increased its position in shares of Akamai Technologies by 6.9% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,484,661 shares of the technology infrastructure company’s stock valued at $200,015,000 after purchasing an additional 160,665 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Akamai Technologies by 2.3% in the 1st quarter. Mackenzie Financial Corp now owns 2,483,991 shares of the technology infrastructure company’s stock valued at $199,961,000 after purchasing an additional 56,411 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Akamai Technologies Stock Up 1.1%

AKAM stock opened at $79.28 on Thursday. The stock has a market capitalization of $11.59 billion, a P/E ratio of 26.69, a P/E/G ratio of 2.47 and a beta of 0.77. The firm has a 50-day simple moving average of $77.90 and a 200-day simple moving average of $85.37. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. Akamai Technologies has a 52 week low of $67.51 and a 52 week high of $106.80.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.12. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company earned $1.64 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. Equities analysts forecast that Akamai Technologies will post 4.6 earnings per share for the current fiscal year.

About Akamai Technologies

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.