Akamai Technologies, Inc. (NASDAQ:AKAM) Receives $127.50 Average Target Price from Analysts

Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) has been assigned an average recommendation of “Hold” from the sixteen analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $127.50.

AKAM has been the subject of a number of recent analyst reports. Robert W. Baird reaffirmed a “neutral” rating and set a $102.00 price target on shares of Akamai Technologies in a research note on Friday, May 20th. Piper Sandler lowered their price objective on shares of Akamai Technologies from $126.00 to $118.00 in a research report on Wednesday, May 4th. Morgan Stanley lowered their price objective on shares of Akamai Technologies from $130.00 to $118.00 in a research report on Wednesday, May 4th. Raymond James lowered their price objective on shares of Akamai Technologies from $118.00 to $115.00 in a research report on Wednesday, May 4th. Finally, Craig Hallum lowered their price objective on shares of Akamai Technologies from $120.00 to $90.00 in a research report on Wednesday, May 4th.

In other news, Director Bernardus Johannes M. Verwaayen sold 2,000 shares of the company’s stock in a transaction on Friday, February 25th. The shares were sold at an average price of $105.12, for a total value of $210,240.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Robert Blumofe sold 5,000 shares of the stock in a transaction on Friday, May 13th. The stock was sold at an average price of $97.68, for a total transaction of $488,400.00. Following the sale, the chief technology officer now directly owns 19,725 shares in the company, valued at $1,926,738. The disclosure for this sale can be found here. Insiders have sold a total of 59,825 shares of company stock worth $6,522,536 in the last 90 days. 1.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ increased its position in shares of Akamai Technologies by 0.3% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 27,821 shares of the technology infrastructure company’s stock valued at $3,259,000 after acquiring an additional 89 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Akamai Technologies by 0.4% in the fourth quarter. Mutual of America Capital Management LLC now owns 21,458 shares of the technology infrastructure company’s stock valued at $2,511,000 after purchasing an additional 93 shares during the period. Appleton Partners Inc. MA boosted its stake in shares of Akamai Technologies by 2.2% in the fourth quarter. Appleton Partners Inc. MA now owns 4,415 shares of the technology infrastructure company’s stock valued at $517,000 after purchasing an additional 95 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Akamai Technologies by 1.0% in the fourth quarter. Louisiana State Employees Retirement System now owns 10,200 shares of the technology infrastructure company’s stock valued at $1,194,000 after purchasing an additional 100 shares during the period. Finally, Baystate Wealth Management LLC lifted its stake in Akamai Technologies by 33.3% in the first quarter. Baystate Wealth Management LLC now owns 400 shares of the technology infrastructure company’s stock worth $48,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

NASDAQ AKAM traded up $1.59 on Friday, reaching $100.69. The company had a trading volume of 22,901 shares, compared to its average volume of 1,738,596. The firm’s 50 day moving average price is $111.68 and its 200 day moving average price is $111.74. Akamai Technologies has a 12 month low of $93.74 and a 12 month high of $123.25. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $16.14 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 1.90 and a beta of 0.60.

Akamai Technologies (NASDAQ:AKAM – Get Rating) last posted its earnings results on Tuesday, May 3rd. The technology infrastructure company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). Akamai Technologies had a return on equity of 17.42% and a net margin of 17.46%. The business had revenue of $903.65 million during the quarter, compared to the consensus estimate of $904.89 million. During the same quarter last year, the firm earned $1.10 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, research analysts expect that Akamai Technologies will post 4.32 EPS for the current year.

About Akamai Technologies (Get Rating)

Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications 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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