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Akamai Technologies (NASDAQ:AKAM) Downgraded to "Hold" Rating by Wall Street Zen

Akamai Technologies logo with Computer and Technology background

Wall Street Zen cut shares of Akamai Technologies (NASDAQ:AKAM - Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Several other research firms have also commented on AKAM. Scotiabank reduced their price target on shares of Akamai Technologies from $107.00 to $105.00 and set a "sector outperform" rating for the company in a report on Friday, May 9th. Susquehanna lowered 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. Bank of America lowered shares of Akamai Technologies from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $125.00 to $100.00 in a research note on Friday, February 21st. Royal Bank Of Canada decreased their target price on shares of 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. Finally, Raymond James Financial cut their price target on shares of Akamai Technologies from $115.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $101.25.

Read Our Latest Report on Akamai Technologies

Akamai Technologies Trading Up 1.0%

NASDAQ:AKAM traded up $0.78 during midday trading on Friday, hitting $80.06. The stock had a trading volume of 3,703,538 shares, compared to its average volume of 2,062,071. The stock has a 50-day moving average of $77.90 and a 200 day moving average of $85.37. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 2.47 and a beta of 0.77. Akamai Technologies has a one year low of $67.51 and a one year high of $106.80. 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 (NASDAQ:AKAM - Get Free Report) last posted 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 business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Akamai Technologies had a return on equity of 14.09% and a net margin of 11.26%. The business's revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.64 EPS. As a group, sell-side analysts forecast that Akamai Technologies will post 4.6 EPS for the current year.

Insider Activity

In related news, EVP Kim Salem-Jackson sold 13,157 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $76.33, for a total transaction of $1,004,273.81. Following the sale, the executive vice president now directly owns 43,575 shares of the company's stock, valued at $3,326,079.75. This trade represents a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Adam Karon sold 3,927 shares of the business's stock in a transaction 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 now 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. Insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Akamai Technologies

A number of institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in Akamai Technologies in the fourth quarter valued at approximately $49,000. Van ECK Associates Corp lifted its position in shares of Akamai Technologies by 49.6% during the 4th quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company's stock valued at $263,000 after buying an additional 910 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Akamai Technologies in the 4th quarter valued at $617,000. Charles Schwab Investment Management Inc. increased its holdings in Akamai Technologies by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 922,244 shares of the technology infrastructure company's stock worth $88,213,000 after acquiring an additional 29,888 shares in the last quarter. Finally, Atria Investments Inc raised its position in Akamai Technologies by 5.6% during the fourth quarter. Atria Investments Inc now owns 5,497 shares of the technology infrastructure company's stock worth $526,000 after acquiring an additional 293 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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