Akamai Technologies, Inc. (NASDAQ:AKAM) Receives $99.58 Consensus PT from Analysts

Key Points

• Akamai Technologies received a consensus rating of "Hold" from 21 brokerage firms, with three analysts recommending a sell and two recommending a strong buy.
• The average 1-year price target for Akamai’s stock is $99.58, reflecting varying investor sentiment and analysis from recent reports.
• Insider activity showed significant sales, with EVP Kim Salem-Jackson selling over 13,000 shares, leading to a 23% decrease in her ownership stake in the company.

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) have been assigned a consensus rating of "Hold" from the twenty analysts that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $96.4444.

AKAM has been the topic of several research analyst reports. Scotiabank reduced their price objective on shares of Akamai Technologies from $105.00 to $95.00 and set a "sector outperform" rating on the stock in a report on Friday. Wall Street Zen upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating in a report on Saturday. Piper Sandler reduced their price objective on shares of Akamai Technologies from $88.00 to $83.00 and set a "neutral" rating on the stock in a report on Friday. Raymond James Financial reduced their price objective on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a report on Friday. Finally, Morgan Stanley lowered shares of Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price target on the stock. in a research note on Tuesday, August 5th.

Insider Buying and Selling

In related news, EVP Kim Salem-Jackson sold 13,157 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the sale, the executive vice president directly owned 43,575 shares in the company, valued at approximately $3,326,079.75. This represents a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul C. Joseph sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $77.74, for a total transaction of $388,700.00. Following the sale, the executive vice president owned 32,349 shares in the company, valued at $2,514,811.26. The trade was a 13.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Akamai Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Beverly Hills Private Wealth LLC lifted its holdings in shares of Akamai Technologies by 4.7% during the first quarter. Beverly Hills Private Wealth LLC now owns 2,828 shares of the technology infrastructure company's stock worth $228,000 after purchasing an additional 126 shares during the period. Opes Wealth Management LLC lifted its holdings in shares of Akamai Technologies by 2.7% during the first quarter. Opes Wealth Management LLC now owns 4,872 shares of the technology infrastructure company's stock worth $392,000 after purchasing an additional 128 shares during the period. UMB Bank n.a. lifted its holdings in shares of Akamai Technologies by 50.8% during the second quarter. UMB Bank n.a. now owns 395 shares of the technology infrastructure company's stock worth $32,000 after purchasing an additional 133 shares during the period. Amalgamated Bank lifted its holdings in shares of Akamai Technologies by 0.5% during the first quarter. Amalgamated Bank now owns 29,080 shares of the technology infrastructure company's stock worth $2,341,000 after purchasing an additional 139 shares during the period. Finally, Horizon Investments LLC lifted its holdings in shares of Akamai Technologies by 7.2% during the first quarter. Horizon Investments LLC now owns 2,220 shares of the technology infrastructure company's stock worth $179,000 after purchasing an additional 149 shares during the period. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Trading Up 1.6%

Shares of AKAM stock traded up $1.11 on Friday, hitting $71.64. 726,186 shares of the stock traded hands, compared to its average volume of 2,407,727. The firm's 50-day moving average price is $78.12 and its two-hundred day moving average price is $81.39. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.18 and a current ratio of 2.31. The stock has a market capitalization of $10.47 billion, a PE ratio of 25.40, a PEG ratio of 2.23 and a beta of 0.76. Akamai Technologies has a twelve month low of $67.51 and a twelve month high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.18. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. Akamai Technologies's revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 EPS. As a group, analysts anticipate that Akamai Technologies will post 4.6 EPS for the current year.

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.