Akamai Technologies, Inc. (NASDAQ:AKAM) Given Average Rating of “Moderate Buy” by Analysts

by · The Markets Daily

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the nineteen analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $116.47.

AKAM has been the subject of a number of analyst reports. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $125.00 in a research report on Friday, August 9th. Scotiabank raised their price objective on Akamai Technologies from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. Tigress Financial reiterated a “strong-buy” rating and issued a $140.00 target price on shares of Akamai Technologies in a research note on Thursday, August 29th. Piper Sandler reduced their target price on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, TD Cowen lifted their price target on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a report on Friday, August 9th.

Read Our Latest Stock Report on Akamai Technologies

Insider Activity at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the transaction, the chief technology officer now owns 22,010 shares in the company, valued at $2,216,186.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the transaction, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,500 shares of company stock worth $741,655. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AKAM. Dimensional Fund Advisors LP lifted its position in shares of Akamai Technologies by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after buying an additional 347,626 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in Akamai Technologies by 19.6% in the first quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock valued at $147,308,000 after acquiring an additional 222,290 shares during the period. Intech Investment Management LLC grew its holdings in shares of Akamai Technologies by 409.2% during the first quarter. Intech Investment Management LLC now owns 248,045 shares of the technology infrastructure company’s stock valued at $26,977,000 after purchasing an additional 199,334 shares during the last quarter. FIL Ltd raised its position in shares of Akamai Technologies by 14.5% during the 4th quarter. FIL Ltd now owns 1,472,311 shares of the technology infrastructure company’s stock worth $174,248,000 after purchasing an additional 186,124 shares during the period. Finally, Empyrean Capital Partners LP bought a new stake in shares of Akamai Technologies in the 2nd quarter worth approximately $15,314,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $103.58 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32. The business’s fifty day moving average price is $100.28 and its two-hundred day moving average price is $97.42. The stock has a market cap of $15.78 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 3.31 and a beta of 0.68. Akamai Technologies has a one year low of $87.59 and a one year high of $129.17.

Akamai Technologies (NASDAQ:AKAM – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.05. The business had revenue of $979.60 million for the quarter, compared to the consensus estimate of $977.67 million. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.01 earnings per share. On average, analysts forecast that Akamai Technologies will post 4.42 EPS for the current fiscal year.

Akamai Technologies Company Profile

(Get Free Report

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.

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