Akamai Technologies, Inc. (NASDAQ:AKAM) Receives $101.25 Average PT from Brokerages

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twenty-two research firms that are currently covering the company, Marketbeat Ratings reports. Two investment 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 a report on the stock in the last year is $101.25.

Several analysts have issued reports on the stock. Scotiabank lowered their price objective on shares of Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating for the company in a research report on Friday, May 9th. Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Oppenheimer assumed coverage on shares of Akamai Technologies in a research report on Thursday, March 20th. They set an "outperform" rating and a $100.00 price target for the company. UBS Group raised their price target on shares of Akamai Technologies from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Finally, Piper Sandler reissued a "neutral" rating and set a $88.00 price target (up previously from $80.00) on shares of Akamai Technologies in a research report on Friday, May 9th.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Kim Salem-Jackson sold 13,157 shares of the firm's stock in a transaction on 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 sale, the executive vice president directly owned 43,575 shares in the company, valued at approximately $3,326,079.75. This trade represents a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Paul C. Joseph sold 5,000 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $77.74, for a total value of $388,700.00. Following the completion of 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. Over the last three months, insiders have sold 22,084 shares of company stock worth $1,726,847. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Akamai Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. WPG Advisers LLC bought a new stake in shares of Akamai Technologies during the first quarter valued at about $27,000. UMB Bank n.a. raised its position in Akamai Technologies by 50.8% in the second quarter. UMB Bank n.a. now owns 395 shares of the technology infrastructure company's stock worth $32,000 after acquiring an additional 133 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised 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 bought a new stake in Akamai Technologies in the first quarter worth about $42,000. Finally, Itau Unibanco Holding S.A. raised 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. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Stock Up 1.2%

NASDAQ:AKAM traded up $0.89 during trading hours on Monday, hitting $77.93. The stock had a trading volume of 1,202,025 shares, compared to its average volume of 2,076,400. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.52. Akamai Technologies has a 1-year low of $67.51 and a 1-year high of $106.80. The business has a 50 day simple moving average of $78.04 and a two-hundred day simple moving average of $83.26. The company has a market cap of $11.39 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 2.43 and a beta of 0.77.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.12. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company earned $1.64 earnings per share. Akamai Technologies's revenue for the quarter was up 2.9% on a year-over-year basis. Analysts predict that Akamai Technologies will post 4.6 EPS for the current 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.