Akamai Technologies (NASDAQ:AKAM) Rating Lowered to “Neutral” at Bank of America

Akamai Technologies (NASDAQ:AKAM) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Friday, Marketbeat.com reports. They presently have a $100.00 price target on the technology infrastructure company’s stock, down from their previous price target of $125.00. Bank of America‘s price objective suggests a potential upside of 30.33% from the stock’s previous close.

A number of other analysts have also recently issued reports on AKAM. Scotiabank dropped their price objective on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. UBS Group initiated coverage on Akamai Technologies in a report on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective on the stock. TD Cowen cut Akamai Technologies from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $125.00 to $98.00 in a report on Friday. Robert W. Baird decreased their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Finally, Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.90.

Akamai Technologies Stock Down 21.7 %

Shares of NASDAQ AKAM opened at $76.73 on Friday. The business’s fifty day moving average price is $96.15 and its 200-day moving average price is $97.90. The stock has a market capitalization of $11.53 billion, a PE ratio of 23.54, a P/E/G ratio of 3.50 and a beta of 0.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. Akamai Technologies has a one year low of $76.50 and a one year high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data 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 analysts’ expectations of $1.02 billion. Akamai Technologies had a return on equity of 14.47% and a net margin of 12.65%. On average, equities research analysts anticipate that Akamai Technologies will post 4.6 EPS for the current year.

Insider Activity

In related news, Director William Raymond Wagner sold 1,000 shares of the firm’s 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 transaction, the director now directly owns 15,719 shares in the company, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the transaction, the chief financial officer now owns 12,716 shares in the company, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,782 shares of company stock worth $1,523,951. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Akamai Technologies

Several institutional investors and hedge funds have recently bought and sold shares of AKAM. Allspring Global Investments Holdings LLC lifted its holdings in Akamai Technologies by 14.5% in 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 buying an additional 12,913 shares during the period. Signaturefd LLC lifted its holdings in Akamai Technologies by 10.1% in the 3rd quarter. Signaturefd LLC now owns 1,402 shares of the technology infrastructure company’s stock worth $142,000 after buying an additional 129 shares during the period. Eastern Bank purchased a new stake in Akamai Technologies in the 3rd quarter worth approximately $71,000. Private Advisor Group LLC lifted its holdings in Akamai Technologies by 8.0% in the 3rd quarter. Private Advisor Group LLC now owns 6,477 shares of the technology infrastructure company’s stock worth $654,000 after buying an additional 477 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Akamai Technologies in the 3rd quarter worth approximately $30,470,000. 94.28% of the stock is currently owned by institutional investors.

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.