Akamai Technologies, Inc. (NASDAQ:AKAM) Given Consensus Rating of "Moderate Buy" by Analysts

Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) has received a consensus rating of "Moderate Buy" from the twenty-two ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $101.25.

Several brokerages have commented on AKAM. Wall Street Zen upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Oppenheimer started coverage on Akamai Technologies in a report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 target price on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Akamai Technologies in a research report on Friday, February 21st. Royal Bank Of Canada cut their price target on Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating for the company in a report on Friday, February 21st. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $88.00 price objective (up previously from $80.00) on shares of Akamai Technologies in a research note on Friday, May 9th.

Insider Activity

In related news, EVP Kim Salem-Jackson sold 13,157 shares of Akamai Technologies stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total value of $1,004,273.81. Following the completion of the sale, the executive vice president now directly owns 43,575 shares in the company, valued at $3,326,079.75. The trade was a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Adam Karon sold 3,927 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $85.02, for a total transaction of $333,873.54. Following the transaction, the chief operating officer now directly owns 10,809 shares in the company, valued at $918,981.18. This trade represents a 26.65% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Akamai Technologies

Large investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in Akamai Technologies during the 4th quarter worth $49,000. Van ECK Associates Corp boosted its holdings in Akamai Technologies by 49.6% in the fourth quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company's stock worth $263,000 after acquiring an additional 910 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Akamai Technologies in the fourth quarter worth about $617,000. Charles Schwab Investment Management Inc. grew its stake in shares of Akamai Technologies by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company's stock worth $88,213,000 after acquiring an additional 29,888 shares during the last quarter. Finally, Atria Investments Inc grew its stake in shares of Akamai Technologies by 5.6% during the fourth quarter. Atria Investments Inc now owns 5,497 shares of the technology infrastructure company's stock worth $526,000 after acquiring an additional 293 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $78.70 on Thursday. The company has a market capitalization of $11.51 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.48 and a beta of 0.77. Akamai Technologies has a 1-year low of $67.51 and a 1-year high of $106.80. The firm's 50 day simple moving average is $77.59 and its two-hundred day simple moving average is $85.93. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 1.18.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.12. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Akamai Technologies had a return on equity of 14.09% and a net margin of 11.26%. Akamai Technologies's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 EPS. Research analysts expect 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.

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