Akamai Technologies (NASDAQ:AKAM) Price Target Cut to $110.00 by Analysts at Craig Hallum

Akamai Technologies (NASDAQ:AKAM - Get Free Report) had its price target lowered by equities researchers at Craig Hallum from $120.00 to $110.00 in a report released on Friday, Benzinga reports. The brokerage currently has a "hold" rating on the technology infrastructure company's stock. Craig Hallum's price objective would suggest a potential upside of 20.63% from the company's previous close.

Several other analysts also recently issued reports on AKAM. Robert W. Baird cut their target price on shares of Akamai Technologies from $135.00 to $120.00 and set an "outperform" rating on the stock in a research note on Friday. Royal Bank of Canada dropped their price objective on Akamai Technologies from $115.00 to $92.00 and set a "sector perform" rating on the stock in a report on Friday. Piper Sandler lowered their target price on shares of Akamai Technologies from $136.00 to $114.00 and set an "overweight" rating on the stock in a research report on Friday. Susquehanna cut their target price on shares of Akamai Technologies from $150.00 to $135.00 and set a "positive" rating for the company in a research report on Friday. Finally, Raymond James cut their price objective on Akamai Technologies from $138.00 to $115.00 and set an "outperform" rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $114.00.

Akamai Technologies Price Performance

Akamai Technologies stock traded down $11.27 during midday trading on Friday, hitting $91.19. The company's stock had a trading volume of 9,715,427 shares, compared to its average volume of 1,700,469. Akamai Technologies has a 12 month low of $84.19 and a 12 month high of $129.17. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The stock's 50-day moving average price is $105.68 and its 200-day moving average price is $111.90. The company has a market capitalization of $13.82 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 2.81 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last issued its earnings results on Thursday, May 9th. The technology infrastructure company reported $1.14 earnings per share 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 business had revenue of $986.97 million for the quarter, compared to the consensus estimate of $989.03 million. During the same quarter in the previous year, the business posted $1.01 earnings per share. The company's quarterly revenue was up 7.8% on a year-over-year basis. Analysts anticipate that Akamai Technologies will post 4.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In related news, COO Adam Karon sold 8,394 shares of Akamai Technologies stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $108.26, for a total value of $908,734.44. Following the completion of the sale, the chief operating officer now directly owns 21,046 shares in the company, valued at $2,278,439.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Akamai Technologies news, EVP Anthony P. Williams sold 3,510 shares of the business's stock in a transaction dated 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 directly owns 4,299 shares of the company's stock, valued at $483,852.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Adam Karon sold 8,394 shares of the firm's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.26, for a total transaction of $908,734.44. Following the sale, the chief operating officer now owns 21,046 shares in the company, valued at $2,278,439.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,753 shares of company stock worth $3,368,303. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AKAM. Raymond James Financial Services Advisors Inc. increased its position in Akamai Technologies by 111.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 34,719 shares of the technology infrastructure company's stock worth $3,699,000 after buying an additional 18,325 shares during the period. Advisor Partners II LLC raised its holdings in Akamai Technologies by 35.8% in the 3rd quarter. Advisor Partners II LLC now owns 7,968 shares of the technology infrastructure company's stock valued at $849,000 after acquiring an additional 2,099 shares in the last quarter. Whittier Trust Co. grew its holdings in shares of Akamai Technologies by 32.7% during the 3rd quarter. Whittier Trust Co. now owns 1,173 shares of the technology infrastructure company's stock worth $125,000 after purchasing an additional 289 shares in the last quarter. ING Groep NV increased its position in shares of Akamai Technologies by 5,514.0% in the third quarter. ING Groep NV now owns 92,182 shares of the technology infrastructure company's stock worth $9,821,000 after purchasing an additional 90,540 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Akamai Technologies by 0.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,517 shares of the technology infrastructure company's stock valued at $1,760,000 after purchasing an additional 116 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company's stock.

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.

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