Weiss Ratings Upgrades Akamai Technologies (NASDAQ:AKAM) to Hold (C-)

Key Points

• Weiss Ratings upgraded Akamai Technologies from a "sell" to a "hold" rating, reflecting a more stable outlook for the company.
• While many analysts have different ratings, the consensus average rating for Akamai is currently a "Hold" with a target price of $92.53.
• Akamai Technologies reported a 6.5% year-over-year revenue increase in its latest earnings, exceeding analysts' expectations and highlighting its growth potential.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) was upgraded by investment analysts at Weiss Ratings from a "sell (d+)" rating to a "hold (c-)" rating in a research note issued to investors on Friday,Weiss Ratings reports.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley cut shares of Akamai Technologies from an "equal weight" rating to an "underweight" rating and set a $85.00 price objective on the stock. in a research note on Tuesday, August 5th. Raymond James Financial decreased their price objective on shares of Akamai Technologies from $110.00 to $84.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Wall Street Zen raised shares of Akamai Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Bank of America decreased their price objective on shares of Akamai Technologies from $100.00 to $80.00 and set a "neutral" rating on the stock in a research note on Monday. Finally, DA Davidson reissued a "buy" rating and issued a $115.00 price objective on shares of Akamai Technologies in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $92.53.

Akamai Technologies Stock Performance

Shares of AKAM traded up $1.09 during mid-day trading on Friday, hitting $75.70. 722,746 shares of the company's stock were exchanged, compared to its average volume of 2,244,878. Akamai Technologies has a 52 week low of $67.51 and a 52 week high of $105.26. The stock's 50-day simple moving average is $76.35 and its 200-day simple moving average is $77.06. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 3.57 and a beta of 0.75. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.92.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its earnings results on Thursday, August 7th. The technology infrastructure company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.55 by $0.18. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same period last year, the firm earned $1.58 earnings per share. The business's revenue for the quarter was up 6.5% on a year-over-year basis. Akamai Technologies has set its FY 2025 guidance at 6.600-6.800 EPS. Q3 2025 guidance at 1.620-1.660 EPS. On average, equities research analysts expect that Akamai Technologies will post 4.6 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $75.76, for a total transaction of $303,040.00. Following the transaction, the executive vice president owned 21,211 shares in the company, valued at approximately $1,606,945.36. The trade was a 15.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul C. Joseph sold 5,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $76.65, for a total value of $383,250.00. Following the completion of the sale, the executive vice president owned 27,349 shares of the company's stock, valued at $2,096,300.85. The trade was a 15.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,000 shares of company stock valued at $917,290. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Akamai Technologies

Hedge funds have recently made changes to their positions in the stock. Mather Group LLC. raised its position in shares of Akamai Technologies by 97.4% during the first quarter. Mather Group LLC. now owns 1,224 shares of the technology infrastructure company's stock worth $99,000 after acquiring an additional 604 shares during the last quarter. Amalgamated Bank lifted its holdings in Akamai Technologies by 0.5% in the first quarter. Amalgamated Bank now owns 29,080 shares of the technology infrastructure company's stock valued at $2,341,000 after buying an additional 139 shares during the period. Polianta Ltd acquired a new position in Akamai Technologies in the second quarter valued at $1,236,000. Robeco Institutional Asset Management B.V. lifted its holdings in Akamai Technologies by 1,663.2% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,027,175 shares of the technology infrastructure company's stock valued at $81,927,000 after buying an additional 968,919 shares during the period. Finally, MBB Public Markets I LLC acquired a new position in Akamai Technologies in the first quarter valued at $311,000. 94.28% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.