Akamai Technologies (NASDAQ:AKAM) Stock Rating Upgraded by HSBC

Akamai Technologies (NASDAQ:AKAM) was upgraded by investment analysts at HSBC from a “hold” rating to a “buy” rating in a report issued on Monday, Marketbeat reports. The brokerage presently has a $121.00 price objective on the technology infrastructure company’s stock. HSBC’s price objective points to a potential upside of 34.33% from the company’s current price.

A number of other brokerages have also issued reports on AKAM. Piper Sandler dropped their target price on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective on the stock in a research report on Monday, July 29th. Scotiabank decreased their target price on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. DA Davidson reissued a “buy” rating and set a $115.00 price target on shares of Akamai Technologies in a research report on Friday, August 9th. Finally, TD Cowen raised their price objective on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $117.47.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $90.08 on Monday. The company has a fifty day moving average price of $100.46 and a 200 day moving average price of $97.00. The firm has a market cap of $13.65 billion, a PE ratio of 26.65, a PEG ratio of 2.87 and a beta of 0.68. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. Akamai Technologies has a 1-year low of $87.59 and a 1-year high of $129.17.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now directly owns 30,703 shares in the company, valued at approximately $2,987,401.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total transaction of $100,730.00. Following the sale, the director now directly owns 16,719 shares in the company, valued at $1,684,104.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 transaction, the executive vice president now owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,500 shares of company stock worth $741,655 in the last quarter. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Akamai Technologies

Large investors have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its position in shares of Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 114 shares during the last quarter. EntryPoint Capital LLC bought a new position in Akamai Technologies in the first quarter valued at about $31,000. Versant Capital Management Inc raised its stake in Akamai Technologies by 170.8% during the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after acquiring an additional 193 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Akamai Technologies in the second quarter worth about $28,000. Finally, Family Firm Inc. acquired a new stake in shares of Akamai Technologies in the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

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.