Akamai Technologies (NASDAQ:AKAM – Get Rating) had its price target dropped by equities research analysts at KeyCorp from $123.00 to $116.00 in a research report issued on Wednesday, Stock Target Advisor reports. The firm presently has an “overweight” rating on the technology infrastructure company’s stock. KeyCorp’s target price points to a potential upside of 22.00% from the company’s previous close.
A number of other equities analysts have also recently weighed in on AKAM. Citigroup cut Akamai Technologies from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $118.00 to $105.00 in a report on Friday, July 22nd. Raymond James lowered their target price on Akamai Technologies from $118.00 to $115.00 in a research note on Wednesday, May 4th. Royal Bank of Canada reduced their price objective on Akamai Technologies from $140.00 to $135.00 in a research note on Wednesday, May 4th. Craig Hallum cut their price target on Akamai Technologies from $120.00 to $90.00 in a research note on Wednesday, May 4th. Finally, Piper Sandler decreased their price objective on shares of Akamai Technologies from $118.00 to $102.00 and set a “neutral” rating for the company in a report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $121.42.
Akamai Technologies Stock Down 1.3 %
Shares of AKAM stock opened at $95.08 on Wednesday. Akamai Technologies has a one year low of $85.90 and a one year high of $123.25. The stock has a market cap of $15.24 billion, a P/E ratio of 25.56, a price-to-earnings-growth ratio of 1.89 and a beta of 0.65. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.68 and a quick ratio of 1.68. The stock has a fifty day moving average price of $93.48 and a 200 day moving average price of $104.53.
Akamai Technologies (NASDAQ:AKAM – Get Rating) last released its quarterly earnings results on Tuesday, August 9th. The technology infrastructure company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.04. The company had revenue of $903.33 million during the quarter, compared to analysts’ expectations of $898.75 million. Akamai Technologies had a return on equity of 17.42% and a net margin of 17.46%. Akamai Technologies’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.18 EPS. Analysts predict that Akamai Technologies will post 4.25 earnings per share for the current year.
Insider Activity
In other news, CTO Robert Blumofe sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $97.68, for a total value of $488,400.00. Following the transaction, the chief technology officer now directly owns 19,725 shares in the company, valued at approximately $1,926,738. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.70% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in AKAM. CWM LLC acquired a new stake in Akamai Technologies in the 4th quarter worth about $191,000. Qube Research & Technologies Ltd raised its position in shares of Akamai Technologies by 28.9% in the fourth quarter. Qube Research & Technologies Ltd now owns 117,645 shares of the technology infrastructure company’s stock valued at $13,769,000 after buying an additional 26,393 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Akamai Technologies by 4.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 93,085 shares of the technology infrastructure company’s stock valued at $10,663,000 after acquiring an additional 3,875 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Akamai Technologies by 14.4% during the 4th quarter. Pacer Advisors Inc. now owns 12,278 shares of the technology infrastructure company’s stock valued at $1,437,000 after acquiring an additional 1,542 shares during the period. Finally, Appleton Partners Inc. MA raised its position in Akamai Technologies by 2.2% in the 4th quarter. Appleton Partners Inc. MA now owns 4,415 shares of the technology infrastructure company’s stock worth $517,000 after purchasing an additional 95 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.
Akamai Technologies Company Profile
Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.