Analysts Set Akamai Technologies, Inc. (NASDAQ:AKAM) Price Target at $103.26

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty-one analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $103.26.

AKAM has been the subject of several research analyst reports. Bank of America lowered Akamai Technologies from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $125.00 to $100.00 in a research report on Friday, February 21st. Royal Bank of Canada lowered their price objective on Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating for the company in a research report on Friday, February 21st. Susquehanna reduced their target price on Akamai Technologies from $110.00 to $105.00 and set a "positive" rating for the company in a research note on Friday, February 21st. Wall Street Zen upgraded Akamai Technologies from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, UBS Group boosted their target price on Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Mani Sundaram sold 10,683 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $86.52, for a total transaction of $924,293.16. Following the completion of the sale, the executive vice president now directly owns 23,988 shares in the company, valued at $2,075,441.76. This represents a 30.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Edward J. Mcgowan sold 4,652 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $86.48, for a total value of $402,304.96. Following the completion of the transaction, the chief financial officer now directly owns 34,510 shares of the company's stock, valued at $2,984,424.80. This represents a 11.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,321 shares of company stock valued at $2,986,916 over the last 90 days. 2.00% of the stock is owned by insiders.

Institutional Trading of Akamai Technologies

Several institutional investors have recently added to or reduced their stakes in AKAM. WPG Advisers LLC bought a new position in Akamai Technologies in the 1st quarter worth $27,000. MassMutual Private Wealth & Trust FSB grew its position in Akamai Technologies by 54.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock worth $35,000 after acquiring an additional 155 shares in the last quarter. AlphaQuest LLC purchased a new position in Akamai Technologies in the first quarter worth about $42,000. Itau Unibanco Holding S.A. grew its position in Akamai Technologies by 99.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock worth $45,000 after acquiring an additional 234 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Akamai Technologies during the fourth quarter valued at approximately $49,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Stock Performance

NASDAQ AKAM traded down $0.73 during trading on Friday, reaching $77.16. 475,052 shares of the company's stock were exchanged, compared to its average volume of 2,003,980. Akamai Technologies has a fifty-two week low of $67.51 and a fifty-two week high of $106.80. The business has a 50 day moving average price of $77.70 and a 200-day moving average price of $87.37. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The stock has a market capitalization of $11.28 billion, a P/E ratio of 23.66, a PEG ratio of 2.74 and a beta of 0.82.

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. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the business posted $1.64 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. Sell-side analysts forecast that Akamai Technologies will post 4.6 earnings per share 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.