Citigroup Has Lowered Expectations for Akamai Technologies (NASDAQ:AKAM) Stock Price

Akamai Technologies (NASDAQ:AKAM) had its price objective reduced by Citigroup from $102.00 to $95.00 in a research note published on Monday,Benzinga reports. They currently have a neutral rating on the technology infrastructure company’s stock.

Other analysts have also issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a report on Friday. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Monday, December 2nd. Robert W. Baird cut their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Finally, 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 research report on Friday. One investment 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 company’s stock. According to MarketBeat, Akamai Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $107.55.

Akamai Technologies Price Performance

NASDAQ AKAM opened at $77.65 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. Akamai Technologies has a 52-week low of $75.50 and a 52-week high of $113.36. The business has a 50 day simple moving average of $95.75 and a 200 day simple moving average of $97.84. The stock has a market cap of $11.67 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 3.50 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.47% and a net margin of 12.65%. Analysts anticipate that Akamai Technologies will post 4.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the transaction, the director now owns 15,719 shares in the company, valued at approximately $1,467,840.22. This represents a 5.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the sale, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,782 shares of company stock valued at $1,523,951 in the last quarter. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Akamai Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Banque Cantonale Vaudoise boosted its stake in Akamai Technologies by 86.9% in the 3rd quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock valued at $4,481,000 after purchasing an additional 20,633 shares during the period. Principal Financial Group Inc. boosted its position in shares of Akamai Technologies by 3.5% in the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after acquiring an additional 6,785 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Akamai Technologies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock valued at $90,083,000 after acquiring an additional 11,272 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Akamai Technologies by 32.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock worth $19,018,000 after acquiring an additional 46,335 shares during the period. Finally, Cascade Investment Advisors Inc. acquired a new stake in Akamai Technologies in the 4th quarter worth about $827,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

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.