Akamai Technologies, Inc. (NASDAQ:AKAM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Akamai Technologies, Inc. (NASDAQ:AKAM) has been given a consensus recommendation of “Moderate Buy” by the twenty-two research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, ten have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $106.55.

Several equities research analysts have recently weighed in on AKAM shares. Piper Sandler downgraded Akamai Technologies from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $112.00 to $100.00 in a report on Friday, February 21st. Oppenheimer started coverage on shares of Akamai Technologies in a research note on Thursday, March 20th. They set an “outperform” rating and a $100.00 price target for the company. Susquehanna dropped their price objective on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, February 21st. Bank of America downgraded Akamai Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $125.00 to $100.00 in a research report on Friday, February 21st. Finally, UBS Group initiated coverage on Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company.

Insider Buying and Selling at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the transaction, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at $2,115,633.28. The trade was a 14.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO F Thomson Leighton acquired 37,670 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the transaction, the chief executive officer now owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. This trade represents a 37.79 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 35,394 shares of company stock worth $3,019,323. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Akamai Technologies

A number of institutional investors have recently added to or reduced their stakes in AKAM. SBI Securities Co. Ltd. acquired a new position in shares of Akamai Technologies during the 4th quarter worth about $49,000. Van ECK Associates Corp increased its position in shares of Akamai Technologies by 49.6% during the fourth quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company’s stock worth $263,000 after purchasing an additional 910 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in Akamai Technologies by 32.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock valued at $19,018,000 after purchasing an additional 46,335 shares during the last quarter. Cascade Investment Advisors Inc. purchased a new position in Akamai Technologies in the 4th quarter valued at $827,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Akamai Technologies during the 4th quarter worth $617,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Stock Down 6.5 %

NASDAQ AKAM opened at $73.69 on Friday. The company has a market capitalization of $11.08 billion, a P/E ratio of 22.60, a P/E/G ratio of 2.74 and a beta of 0.80. The stock has a 50 day moving average price of $88.11 and a 200-day moving average price of $94.06. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. Akamai Technologies has a one year low of $73.42 and a one year high of $107.60.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. As a group, equities analysts predict that Akamai Technologies will post 4.6 EPS for the current fiscal year.

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.