Akamai Technologies (NASDAQ:AKAM) Given New $110.00 Price Target at Raymond James

Akamai Technologies (NASDAQ:AKAM) had its price objective cut by equities researchers at Raymond James from $115.00 to $110.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology infrastructure company’s stock. Raymond James’ price target indicates a potential upside of 43.36% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on AKAM. Evercore ISI reiterated an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. UBS Group began coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 target price for the company. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research report on Friday. Scotiabank dropped their target price on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Finally, Piper Sandler cut shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $112.00 to $100.00 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 stock. According to MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and an average target price of $107.90.

Akamai Technologies Price Performance

NASDAQ:AKAM opened at $76.73 on Friday. The company has a 50-day moving average of $96.15 and a 200-day moving average of $97.90. The company has a market capitalization of $11.53 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 3.50 and a beta of 0.65. Akamai Technologies has a 52 week low of $76.50 and a 52 week high of $113.36. 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 (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The business 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%. As a group, equities research analysts anticipate that Akamai Technologies will post 4.6 earnings per share for the current fiscal year.

Insider Transactions at Akamai Technologies

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AKAM. Allspring Global Investments Holdings LLC boosted its stake in Akamai Technologies by 14.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 102,175 shares of the technology infrastructure company’s stock worth $10,315,000 after acquiring an additional 12,913 shares during the last quarter. Signaturefd LLC boosted its stake in Akamai Technologies by 10.1% during the 3rd quarter. Signaturefd LLC now owns 1,402 shares of the technology infrastructure company’s stock worth $142,000 after acquiring an additional 129 shares during the last quarter. Eastern Bank bought a new position in Akamai Technologies during the 3rd quarter worth approximately $71,000. Private Advisor Group LLC boosted its stake in Akamai Technologies by 8.0% during the 3rd quarter. Private Advisor Group LLC now owns 6,477 shares of the technology infrastructure company’s stock worth $654,000 after acquiring an additional 477 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in Akamai Technologies during the 3rd quarter worth approximately $30,470,000. 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.