Akamai Technologies, Inc. (NASDAQ:AKAM) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

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

Several equities research analysts recently commented on AKAM shares. Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research note on Saturday. Piper Sandler reissued a "neutral" rating and set a $88.00 price objective (up previously from $80.00) on shares of Akamai Technologies in a research note on Friday, May 9th. KeyCorp started coverage on shares of Akamai Technologies in a research note on Friday, June 6th. They set an "underweight" rating and a $63.00 price objective on the stock. UBS Group boosted their price objective 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. Finally, Morgan Stanley dropped their price objective on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th.

Insider Activity at Akamai Technologies

In other news, COO Adam Karon sold 3,927 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were 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 directly owned 10,809 shares of the company's stock, valued at $918,981.18. The trade was a 26.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kim Salem-Jackson sold 13,157 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the transaction, the executive vice president directly owned 43,575 shares of the company's stock, valued at $3,326,079.75. The trade was a 23.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Akamai Technologies

Several institutional investors and hedge funds have recently bought and sold shares of AKAM. WPG Advisers LLC bought a new position in shares of Akamai Technologies during the 1st quarter valued at approximately $27,000. UMB Bank n.a. boosted its holdings in Akamai Technologies by 50.8% in the 2nd quarter. UMB Bank n.a. now owns 395 shares of the technology infrastructure company's stock worth $32,000 after buying an additional 133 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in Akamai Technologies by 54.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock worth $35,000 after buying an additional 155 shares during the period. AlphaQuest LLC purchased a new stake in Akamai Technologies in the 1st quarter worth $42,000. Finally, Itau Unibanco Holding S.A. raised its holdings in Akamai Technologies by 99.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock valued at $45,000 after acquiring an additional 234 shares during the period. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Trading Up 0.3%

Shares of AKAM traded up $0.24 during trading hours on Monday, reaching $77.65. 88,815 shares of the company traded hands, compared to its average volume of 2,068,748. The company's fifty day moving average price is $78.55 and its two-hundred day moving average price is $83.61. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 2.44 and a beta of 0.77. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. Akamai Technologies has a 12 month low of $67.51 and a 12 month high of $106.80.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its 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. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.64 EPS. Equities research analysts predict 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.