UBS Group Issues Positive Forecast for Akamai Technologies (NASDAQ:AKAM) Stock Price

Akamai Technologies (NASDAQ:AKAM) had its price objective upped by research analysts at UBS Group from $85.00 to $90.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the technology infrastructure company’s stock. UBS Group’s target price would indicate a potential upside of 17.63% from the stock’s current price.

A number of other equities analysts have also recently issued reports on AKAM. Morgan Stanley decreased their price objective on shares of Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Piper Sandler reaffirmed a “neutral” rating and set a $88.00 price target (up previously from $80.00) on shares of Akamai Technologies in a research report on Friday. Royal Bank of Canada cut their price objective on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating on the stock in a research report on Friday, February 21st. Bank of America cut Akamai Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the company from $125.00 to $100.00 in a research note on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.26.

Akamai Technologies Trading Down 10.5 %

Shares of AKAM stock opened at $76.51 on Friday. The business has a 50-day moving average of $78.85 and a 200 day moving average of $89.35. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. Akamai Technologies has a 1-year low of $67.51 and a 1-year high of $106.80. The stock has a market capitalization of $11.18 billion, a PE ratio of 23.47, a P/E/G ratio of 2.74 and a beta of 0.82.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.12. 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 $1.01 billion. During the same quarter in the prior year, the firm posted $1.64 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Akamai Technologies will post 4.6 earnings per share for the current year.

Insider Transactions at Akamai Technologies

In other news, EVP Aaron Ahola sold 4,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $80.92, for a total transaction of $323,680.00. Following the sale, the executive vice president now owns 25,211 shares in the company, valued at $2,040,074.12. This represents a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Adam Karon sold 3,927 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $85.02, for a total transaction of $333,873.54. Following the completion of the transaction, the chief operating officer now owns 10,809 shares of the company’s stock, valued at approximately $918,981.18. The trade was a 26.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,321 shares of company stock valued at $2,986,916. Insiders own 2.00% of the company’s stock.

Institutional Trading of Akamai Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC purchased a new stake in shares of Akamai Technologies during the first quarter valued at $1,249,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Akamai Technologies by 2.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 940,681 shares of the technology infrastructure company’s stock valued at $75,725,000 after acquiring an additional 18,437 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new stake in shares of Akamai Technologies in the first quarter worth approximately $1,848,000. Vanguard Group Inc. grew its stake in shares of Akamai Technologies by 2.3% in the first quarter. Vanguard Group Inc. now owns 18,673,358 shares of the technology infrastructure company’s stock worth $1,503,205,000 after acquiring an additional 425,461 shares during the period. Finally, Maxi Investments CY Ltd raised its holdings in shares of Akamai Technologies by 12.8% during the first quarter. Maxi Investments CY Ltd now owns 23,431 shares of the technology infrastructure company’s stock valued at $1,886,000 after purchasing an additional 2,661 shares during the last quarter. Institutional investors 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.