Brokerages Set Akamai Technologies, Inc. (NASDAQ:AKAM) Price Target at $114.11

Shares of Akamai Technologies, Inc. (NASDAQ:AKAMGet Free Report) have earned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $114.11.

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Akamai Technologies from $74.00 to $78.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 8th. KeyCorp boosted their target price on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Guggenheim upgraded Akamai Technologies from a “sell” rating to a “neutral” rating in a research report on Thursday, October 26th. Citigroup boosted their target price on Akamai Technologies from $105.00 to $112.00 and gave the stock a “neutral” rating in a research report on Thursday, October 12th. Finally, Morgan Stanley boosted their target price on Akamai Technologies from $102.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 8th.

Get Our Latest Analysis on AKAM

Akamai Technologies Trading Up 0.9 %

AKAM opened at $125.57 on Monday. The business has a fifty day moving average price of $119.09 and a 200 day moving average price of $109.83. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 2.30. The stock has a market capitalization of $18.94 billion, a price-to-earnings ratio of 37.82, a PEG ratio of 3.13 and a beta of 0.76. Akamai Technologies has a 12 month low of $70.65 and a 12 month high of $125.90.

Akamai Technologies (NASDAQ:AKAMGet Free Report) last posted its quarterly earnings data on Tuesday, November 7th. The technology infrastructure company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.17). The company had revenue of $965.48 million for the quarter, compared to analysts’ expectations of $944.57 million. Akamai Technologies had a net margin of 13.76% and a return on equity of 14.54%. Sell-side analysts expect that Akamai Technologies will post 4.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Madhu Ranganathan sold 3,386 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $110.65, for a total value of $374,660.90. Following the transaction, the director now directly owns 5,356 shares of the company’s stock, valued at approximately $592,641.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Madhu Ranganathan sold 3,386 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $110.65, for a total value of $374,660.90. Following the transaction, the director now directly owns 5,356 shares of the company’s stock, valued at approximately $592,641.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Robert Blumofe sold 2,000 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $111.47, for a total value of $222,940.00. Following the completion of the transaction, the chief technology officer now directly owns 15,609 shares in the company, valued at $1,739,935.23. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,522 shares of company stock valued at $2,800,825. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Portside Wealth Group LLC purchased a new position in Akamai Technologies in the second quarter valued at about $6,714,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Akamai Technologies by 117.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 218,369 shares of the technology infrastructure company’s stock valued at $19,625,000 after acquiring an additional 117,900 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Akamai Technologies by 123.8% during the third quarter. Los Angeles Capital Management LLC now owns 736,236 shares of the technology infrastructure company’s stock valued at $78,439,000 after acquiring an additional 407,321 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Akamai Technologies by 0.8% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,401 shares of the technology infrastructure company’s stock valued at $1,474,000 after acquiring an additional 123 shares in the last quarter. Finally, Retirement Systems of Alabama grew its stake in shares of Akamai Technologies by 9.8% during the second quarter. Retirement Systems of Alabama now owns 652,092 shares of the technology infrastructure company’s stock valued at $58,604,000 after acquiring an additional 58,114 shares in the last quarter. 91.40% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Company Profile

(Get Free Report

Akamai Technologies, Inc provides cloud services for securing, delivering, and computing content, applications, and software 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.

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