Akamai Technologies (NASDAQ:AKAM) Stock Rating Upgraded by KeyCorp

Akamai Technologies (NASDAQ:AKAM - Get Free Report) was upgraded by equities researchers at KeyCorp to an "underweight" rating in a note issued to investors on Thursday, MarketBeat Ratings reports.

Several other equities research analysts have also recently issued reports on the stock. Citigroup decreased their target price on shares of Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating on the stock in a research report on Monday, February 24th. Wall Street Zen upgraded Akamai Technologies from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Morgan Stanley decreased their price objective on shares of Akamai Technologies from $102.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Susquehanna cut their target price on shares of Akamai Technologies from $110.00 to $105.00 and set a "positive" rating on the stock in a research note on Friday, February 21st. Finally, TD Cowen downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating and lowered their price objective for the company from $125.00 to $98.00 in a research report on Friday, February 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Akamai Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.25.

Akamai Technologies Stock Up 1.0%

Shares of NASDAQ:AKAM traded up $0.75 during trading on Thursday, hitting $76.89. The company's stock had a trading volume of 170,101 shares, compared to its average volume of 2,005,022. The business has a 50 day moving average price of $77.00 and a two-hundred day moving average price of $86.79. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. Akamai Technologies has a fifty-two week low of $67.51 and a fifty-two week high of $106.80. The company has a market capitalization of $11.24 billion, a PE ratio of 23.56, a P/E/G ratio of 2.74 and a beta of 0.77.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.12. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. Akamai Technologies's quarterly revenue was up 2.9% on a year-over-year basis. As a group, research analysts expect that Akamai Technologies will post 4.6 EPS for the current fiscal year.

Insider Activity

In related news, CFO Edward J. Mcgowan sold 4,652 shares of the stock in a transaction 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 sale, the chief financial officer now owns 34,510 shares in the company, valued at approximately $2,984,424.80. This trade represents a 11.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Adam Karon sold 5,628 shares of Akamai Technologies stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $86.20, for a total transaction of $485,133.60. Following the sale, the chief operating officer now owns 24,597 shares of the company's stock, valued at approximately $2,120,261.40. The trade was a 18.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,364 shares of company stock worth $2,549,266 over the last quarter. Insiders own 2.00% of the company's stock.

Institutional Trading of Akamai Technologies

Hedge funds have recently added to or reduced their stakes in the business. WPG Advisers LLC purchased a new position in shares of Akamai Technologies during the first quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB increased its position in Akamai Technologies by 54.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock valued at $35,000 after purchasing an additional 155 shares during the period. Itau Unibanco Holding S.A. raised its holdings in Akamai Technologies by 99.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock worth $45,000 after purchasing an additional 234 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Akamai Technologies in the 4th quarter worth about $49,000. Finally, AlphaQuest LLC bought a new stake in shares of Akamai Technologies during the 1st quarter valued at about $42,000. 94.28% of the stock is owned by institutional investors.

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.