Brokerages Set Akamai Technologies, Inc. (NASDAQ:AKAM) Target Price at $116.47

Akamai Technologies, Inc. (NASDAQ:AKAM) has been given an average recommendation of “Moderate Buy” by the nineteen analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $116.47.

Several equities analysts have issued reports on AKAM shares. Scotiabank upped their price objective on shares of Akamai Technologies from $110.00 to $115.00 and gave the company a “sector outperform” rating in a research note on Friday, August 9th. Piper Sandler reduced their target price on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Hsbc Global Res raised Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $110.00 to $125.00 in a research report on Friday, August 9th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price target on shares of Akamai Technologies in a research note on Thursday, August 15th.

Akamai Technologies Price Performance

AKAM stock opened at $99.44 on Tuesday. The business’s 50-day moving average is $97.91 and its two-hundred day moving average is $98.51. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market capitalization of $15.15 billion, a P/E ratio of 24.74, a P/E/G ratio of 3.10 and a beta of 0.68. Akamai Technologies has a 1 year low of $87.59 and a 1 year high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The company had revenue of $979.60 million for the quarter, compared to the consensus estimate of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. Analysts anticipate that Akamai Technologies will post 4.42 earnings per share for the current fiscal year.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now directly owns 30,703 shares in the company, valued at approximately $2,987,401.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the sale, the director now directly owns 16,719 shares in the company, valued at $1,684,104.87. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction 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. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock worth $741,655 over the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Akamai Technologies

Several hedge funds and other institutional investors have recently modified their holdings of AKAM. Janus Henderson Group PLC lifted its holdings in shares of Akamai Technologies by 19.6% during the 1st quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock valued at $4,462,000 after acquiring an additional 6,724 shares in the last quarter. Cibc World Markets Corp boosted its position in shares of Akamai Technologies by 131.6% in the fourth quarter. Cibc World Markets Corp now owns 19,433 shares of the technology infrastructure company’s stock worth $2,300,000 after buying an additional 11,044 shares during the period. Franklin Resources Inc. boosted its position in shares of Akamai Technologies by 190.3% in the fourth quarter. Franklin Resources Inc. now owns 73,579 shares of the technology infrastructure company’s stock worth $8,708,000 after buying an additional 48,236 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Akamai Technologies by 3.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 480,908 shares of the technology infrastructure company’s stock valued at $56,915,000 after buying an additional 15,890 shares in the last quarter. Finally, TKG Advisors LLC purchased a new stake in shares of Akamai Technologies during the 4th quarter valued at about $3,245,000. 94.28% of the stock is owned by institutional investors and hedge funds.

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.