Akamai Technologies (NASDAQ:AKAM) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of Akamai Technologies (NASDAQ:AKAM) in a research report issued on Thursday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $100.00 price target on the technology infrastructure company’s stock. Oppenheimer’s price target indicates a potential upside of 23.40% from the stock’s previous close.

AKAM has been the subject of a number of other research reports. 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, February 21st. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research report on Friday, February 21st. Susquehanna decreased their target price on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, February 21st. Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the company from $125.00 to $100.00 in a research report on Friday, February 21st. Finally, TD Cowen lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and decreased their target price for the company from $125.00 to $98.00 in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $106.55.

Akamai Technologies Stock Down 0.6 %

AKAM stock opened at $81.04 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. Akamai Technologies has a fifty-two week low of $75.50 and a fifty-two week high of $110.14. The firm’s 50-day simple moving average is $90.58 and its 200 day simple moving average is $95.28. The stock has a market cap of $12.18 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. As a group, sell-side analysts predict that Akamai Technologies will post 4.6 EPS for the current year.

Insider Buying and Selling at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the transaction, the executive vice president now owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO F Thomson Leighton acquired 37,670 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the transaction, the chief executive officer now owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. This represents a 37.79 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 35,394 shares of company stock valued at $3,019,323. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Akamai Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. grew its holdings in Akamai Technologies by 99.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock valued at $45,000 after purchasing an additional 234 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Akamai Technologies during the fourth quarter valued at approximately $49,000. Bruce G. Allen Investments LLC grew its holdings in Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after purchasing an additional 155 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in Akamai Technologies during the fourth quarter valued at approximately $57,000. Finally, LRI Investments LLC grew its holdings in Akamai Technologies by 500.0% during the fourth quarter. LRI Investments LLC now owns 624 shares of the technology infrastructure company’s stock valued at $60,000 after purchasing an additional 520 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

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.