Susquehanna Issues Pessimistic Forecast for Akamai Technologies (NASDAQ:AKAM) Stock Price

Akamai Technologies (NASDAQ:AKAM) had its price target dropped by Susquehanna from $110.00 to $105.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “positive” rating on the technology infrastructure company’s stock. Susquehanna’s target price suggests a potential upside of 36.84% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Evercore ISI reaffirmed an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research note on Tuesday, December 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday. Citigroup cut their target price on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Bank of America cut 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. Finally, Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $107.90.

Akamai Technologies Trading Down 21.7 %

Shares of NASDAQ AKAM opened at $76.73 on Friday. The business’s 50 day moving average is $96.15 and its two-hundred day moving average is $97.90. 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 1-year low of $76.50 and a 1-year high of $113.36. The stock has a market capitalization of $11.53 billion, a P/E ratio of 23.54, a PEG ratio of 3.50 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate 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%. As a group, research analysts expect that Akamai Technologies will post 4.6 EPS for the current year.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $93,380.00. Following the sale, the director now owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. This represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,782 shares of company stock worth $1,523,951 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Akamai Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in AKAM. Allspring Global Investments Holdings LLC lifted its holdings in shares of Akamai Technologies by 14.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 102,175 shares of the technology infrastructure company’s stock valued at $10,315,000 after purchasing an additional 12,913 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Akamai Technologies by 10.1% during the 3rd quarter. Signaturefd LLC now owns 1,402 shares of the technology infrastructure company’s stock valued at $142,000 after purchasing an additional 129 shares during the last quarter. Eastern Bank purchased a new stake in shares of Akamai Technologies during the 3rd quarter valued at $71,000. Private Advisor Group LLC lifted its holdings in shares of Akamai Technologies by 8.0% during the 3rd quarter. Private Advisor Group LLC now owns 6,477 shares of the technology infrastructure company’s stock valued at $654,000 after purchasing an additional 477 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Akamai Technologies during the 3rd quarter valued at $30,470,000. Hedge funds and other institutional investors 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.