Akamai Technologies (NASDAQ:AKAM) Given New $95.00 Price Target at Citigroup

Akamai Technologies (NASDAQ:AKAM) had its price target decreased by Citigroup from $102.00 to $95.00 in a research report released on Monday morning,Benzinga reports. Citigroup currently has a neutral rating on the technology infrastructure company’s stock.

A number of other equities research analysts also recently weighed in on AKAM. Craig Hallum downgraded Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective on the stock. in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday. Scotiabank dropped their price objective on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating for the company in a research note on Friday. Bank of America downgraded shares of Akamai Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the company from $125.00 to $100.00 in a research note on Friday. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $110.00 target price on shares of Akamai Technologies in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.55.

Akamai Technologies Stock Performance

AKAM opened at $77.65 on Monday. The stock’s 50 day simple moving average is $95.75 and its 200-day simple moving average is $97.84. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a market cap of $11.67 billion, a PE ratio of 23.82, a P/E/G ratio of 3.50 and a beta of 0.65. Akamai Technologies has a 1 year low of $75.50 and a 1 year high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last announced 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). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.47%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Sell-side analysts forecast that Akamai Technologies will post 4.6 EPS for the current year.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were 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 owns 15,719 shares in the company, valued at approximately $1,467,840.22. The trade was a 5.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 15,782 shares of company stock worth $1,523,951 over the last 90 days. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Akamai Technologies in the 4th quarter valued at approximately $477,454,000. First Trust Advisors LP increased its stake in Akamai Technologies by 15.6% in the fourth quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock valued at $489,383,000 after purchasing an additional 690,341 shares in the last quarter. National Pension Service raised its holdings in Akamai Technologies by 595.3% in the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock worth $30,504,000 after purchasing an additional 273,043 shares during the period. Hsbc Holdings PLC raised its holdings in Akamai Technologies by 43.4% in the fourth quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company’s stock worth $74,473,000 after purchasing an additional 235,394 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after purchasing an additional 202,746 shares in the last quarter. 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.