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

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twenty-one analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, nine have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $103.26.

AKAM has been the topic of a number of analyst reports. UBS Group upped their price target on shares of Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Bank of America downgraded shares of Akamai Technologies from a "buy" rating to a "neutral" rating and dropped their price target for the company from $125.00 to $100.00 in a report on Friday, February 21st. Susquehanna dropped their price target on shares of Akamai Technologies from $110.00 to $105.00 and set a "positive" rating on the stock in a report on Friday, February 21st. Royal Bank of Canada dropped their price target on shares of Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating on the stock in a report on Friday, February 21st. Finally, Craig Hallum downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 price target on the stock. in a report on Friday, February 21st.

Insider Buying and Selling

In related news, EVP Kim Salem-Jackson sold 13,157 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 43,575 shares of the company's stock, valued at approximately $3,326,079.75. This represents a 23.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Adam Karon sold 6,431 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $80.49, for a total transaction of $517,631.19. Following the sale, the chief operating officer now directly owns 14,239 shares of the company's stock, valued at approximately $1,146,097.11. This trade represents a 31.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,478 shares of company stock valued at $3,991,190. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Akamai Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Ransom Advisory Ltd purchased a new stake in Akamai Technologies during the 1st quarter valued at approximately $507,000. Ilmarinen Mutual Pension Insurance Co purchased a new position in shares of Akamai Technologies in the first quarter valued at $2,013,000. Bayforest Capital Ltd purchased a new position in shares of Akamai Technologies in the first quarter valued at $108,000. Optimize Financial Inc purchased a new position in shares of Akamai Technologies in the first quarter valued at $1,820,000. Finally, Woodline Partners LP grew its holdings in shares of Akamai Technologies by 3,783.0% in the first quarter. Woodline Partners LP now owns 186,036 shares of the technology infrastructure company's stock valued at $14,976,000 after purchasing an additional 181,245 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other institutional investors.

Akamai Technologies Stock Down 0.4%

Akamai Technologies stock traded down $0.33 during mid-day trading on Friday, reaching $76.09. The stock had a trading volume of 1,788,451 shares, compared to its average volume of 2,010,630. The company has a market capitalization of $11.12 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 2.74 and a beta of 0.82. The company has a 50-day moving average price of $77.47 and a two-hundred day moving average price of $87.19. 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 0.49, a current ratio of 1.23 and a quick ratio of 1.33.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced 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 company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Akamai Technologies's revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 EPS. On average, 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.