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

Akamai Technologies logo with Computer and Technology background

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

A number of analysts have commented on AKAM shares. Morgan Stanley reduced their price objective on Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Oppenheimer started coverage on Akamai Technologies in a research report on Thursday, March 20th. They issued an "outperform" rating and a $100.00 target price for the company. Piper Sandler reaffirmed a "neutral" rating and issued a $88.00 target price (up from $80.00) on shares of Akamai Technologies in a research report on Friday, May 9th. UBS Group raised their target price on Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Finally, KeyCorp started coverage on shares of Akamai Technologies in a report on Friday, June 6th. They set an "underweight" rating and a $63.00 price objective for the company.

Get Our Latest Stock Report on AKAM

Akamai Technologies Stock Performance

Shares of AKAM traded down $0.32 during mid-day trading on Thursday, hitting $78.38. The company's stock had a trading volume of 4,756,158 shares, compared to its average volume of 2,051,099. Akamai Technologies has a one year low of $67.51 and a one year high of $106.80. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market capitalization of $11.46 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 2.47 and a beta of 0.77. The stock's 50-day moving average is $77.80 and its two-hundred day moving average is $85.50.

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 for the quarter, beating analysts' consensus estimates of $1.58 by $0.12. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $1.64 EPS. The business's revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Akamai Technologies will post 4.6 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Akamai Technologies by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 18,673,358 shares of the technology infrastructure company's stock worth $1,503,205,000 after purchasing an additional 425,461 shares during the last quarter. First Trust Advisors LP raised its holdings in Akamai Technologies by 15.6% during the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company's stock worth $489,383,000 after purchasing an additional 690,341 shares during the last quarter. Norges Bank bought a new stake in shares of Akamai Technologies during the fourth quarter worth approximately $477,454,000. Edmond DE Rothschild Holding S.A. raised its stake in shares of Akamai Technologies by 6.9% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,484,661 shares of the technology infrastructure company's stock worth $200,015,000 after buying an additional 160,665 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Akamai Technologies by 2.3% during the first quarter. Mackenzie Financial Corp now owns 2,483,991 shares of the technology infrastructure company's stock worth $199,961,000 after buying an additional 56,411 shares during the last quarter. Institutional investors own 94.28% of the company's stock.

Akamai Technologies Company Profile

(Get Free Report

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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