Akamai Technologies (NASDAQ:AKAM) Rating Lowered to Hold at Craig Hallum

Akamai Technologies (NASDAQ:AKAM) was downgraded by equities researchers at Craig Hallum from a “buy” rating to a “hold” rating in a report issued on Friday, Marketbeat Ratings reports. They presently have a $90.00 price target on the technology infrastructure company’s stock. Craig Hallum’s price target would suggest a potential upside of 17.29% from the stock’s current price.

Several other research firms have also recently weighed in on AKAM. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Monday, November 11th. Bank of America lowered Akamai Technologies from a “buy” rating to a “neutral” rating and cut their target price for the company from $125.00 to $100.00 in a research note on Friday. Scotiabank cut their target price on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. Evercore ISI reiterated an “outperform” rating and set a $110.00 price objective on shares of Akamai Technologies in a research note on Tuesday, December 17th. Finally, Citigroup dropped their price objective on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $107.90.

Akamai Technologies Trading Down 21.7 %

Shares of NASDAQ AKAM opened at $76.73 on Friday. The stock has a market cap of $11.53 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 3.50 and a beta of 0.65. The business has a 50 day simple moving average of $96.15 and a 200 day simple moving average of $97.90. 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 announced its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The company 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%. On average, research analysts predict that Akamai Technologies will post 4.6 earnings per share for the current fiscal year.

Insider Transactions at Akamai Technologies

In other news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 15,719 shares in the company, valued at approximately $1,467,840.22. This represents a 5.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the sale, the executive vice president now owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,782 shares of company stock worth $1,523,951. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Akamai Technologies

A number of institutional investors have recently modified their holdings of AKAM. Mackenzie Financial Corp increased its holdings in Akamai Technologies by 3.5% in the 4th quarter. Mackenzie Financial Corp now owns 2,427,580 shares of the technology infrastructure company’s stock worth $232,198,000 after purchasing an additional 81,744 shares in the last quarter. Forum Financial Management LP acquired a new stake in Akamai Technologies during the fourth quarter worth approximately $252,000. Woodline Partners LP acquired a new stake in Akamai Technologies during the fourth quarter worth approximately $458,000. Two Sigma Advisers LP grew its stake in Akamai Technologies by 23.5% during the fourth quarter. Two Sigma Advisers LP now owns 78,900 shares of the technology infrastructure company’s stock worth $7,547,000 after purchasing an additional 15,000 shares during the period. Finally, Texas Bank & Trust Co acquired a new stake in Akamai Technologies during the fourth quarter worth approximately $316,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

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.