Akamai Technologies (NASDAQ:AKAM) Shares Gap Down After Earnings Miss

Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) shares gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $102.46, but opened at $94.20. Akamai Technologies shares last traded at $93.56, with a volume of 2,378,132 shares.

The technology infrastructure company reported $1.14 EPS for the quarter, missing analysts' consensus estimates of $1.17 by ($0.03). Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The company had revenue of $986.97 million for the quarter, compared to analyst estimates of $989.03 million. During the same period in the prior year, the firm posted $1.01 earnings per share. The business's quarterly revenue was up 7.8% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AKAM shares. Robert W. Baird lowered their price target on Akamai Technologies from $135.00 to $120.00 and set an "outperform" rating for the company in a report on Friday. Piper Sandler lowered their price target on Akamai Technologies from $136.00 to $114.00 and set an "overweight" rating for the company in a report on Friday. Craig Hallum lowered their price target on Akamai Technologies from $120.00 to $110.00 and set a "hold" rating for the company in a report on Friday. Raymond James lowered their price target on Akamai Technologies from $138.00 to $115.00 and set an "outperform" rating for the company in a report on Friday. Finally, KeyCorp lowered their price target on Akamai Technologies from $138.00 to $119.00 and set an "overweight" rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $114.00.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, EVP Anthony P. Williams sold 4,500 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total value of $489,285.00. Following the completion of the transaction, the executive vice president now owns 14,938 shares in the company, valued at $1,624,208.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Akamai Technologies news, EVP Anthony P. Williams sold 4,500 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total value of $489,285.00. Following the completion of the transaction, the executive vice president now owns 14,938 shares in the company, valued at $1,624,208.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Anthony P. Williams sold 3,510 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total value of $395,050.50. Following the completion of the transaction, the executive vice president now owns 4,299 shares of the company's stock, valued at approximately $483,852.45. The disclosure for this sale can be found here. Insiders sold 30,753 shares of company stock worth $3,368,303 over the last 90 days. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Akamai Technologies

Large investors have recently bought and sold shares of the company. Planned Solutions Inc. acquired a new stake in shares of Akamai Technologies during the fourth quarter valued at $37,000. Headinvest LLC acquired a new stake in Akamai Technologies during the 3rd quarter valued at approximately $40,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Akamai Technologies during the 4th quarter valued at approximately $43,000. Bruce G. Allen Investments LLC acquired a new position in shares of Akamai Technologies in the 4th quarter worth approximately $44,000. Finally, Lindbrook Capital LLC grew its position in shares of Akamai Technologies by 43.7% in the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company's stock worth $49,000 after acquiring an additional 125 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

Akamai Technologies Stock Down 11.0 %

The stock has a 50-day moving average of $105.68 and a 200-day moving average of $111.90. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77. The firm has a market cap of $13.82 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 2.81 and a beta of 0.72.

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.