Akamai Technologies, Inc. (NASDAQ:AKAM) Receives $121.27 Consensus Price Target from Brokerages

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $121.60.

Several research firms have commented on AKAM. KeyCorp lifted their target price on shares of Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Citigroup lowered their target price on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a research note on Thursday. HSBC cut shares of Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their target price for the stock from $109.00 to $96.00 in a research note on Thursday, February 15th. JPMorgan Chase & Co. lifted their target price on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. Finally, Piper Sandler lifted their target price on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th.

Insider Activity at Akamai Technologies

In related news, CMO Kim Salem-Jackson sold 2,600 shares of Akamai Technologies stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the transaction, the chief marketing officer now owns 27,663 shares in the company, valued at approximately $3,410,847.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CMO Kim Salem-Jackson sold 2,600 shares of Akamai Technologies stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total transaction of $320,580.00. Following the transaction, the chief marketing officer now owns 27,663 shares in the company, valued at approximately $3,410,847.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anthony P. Williams sold 3,510 shares of Akamai Technologies stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $112.55, for a total transaction of $395,050.50. Following the transaction, the executive vice president now owns 4,299 shares in the company, valued at approximately $483,852.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,353 shares of company stock worth $3,688,883. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Akamai Technologies

Several large investors have recently modified their holdings of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Akamai Technologies by 8.2% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 84,796 shares of the technology infrastructure company’s stock worth $9,222,000 after purchasing an additional 6,400 shares during the last quarter. Kercheville Advisors LLC lifted its position in shares of Akamai Technologies by 49.9% during the first quarter. Kercheville Advisors LLC now owns 16,980 shares of the technology infrastructure company’s stock worth $1,847,000 after purchasing an additional 5,650 shares during the last quarter. V Square Quantitative Management LLC lifted its position in shares of Akamai Technologies by 16.5% during the first quarter. V Square Quantitative Management LLC now owns 4,321 shares of the technology infrastructure company’s stock worth $470,000 after purchasing an additional 612 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of Akamai Technologies by 150.0% during the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 25,000 shares of the technology infrastructure company’s stock worth $2,719,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Simplicity Wealth LLC bought a new position in shares of Akamai Technologies during the first quarter worth about $1,379,000. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $101.68 on Friday. 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 company has a market cap of $15.41 billion, a P/E ratio of 28.80, a PEG ratio of 2.89 and a beta of 0.72. Akamai Technologies has a 52 week low of $76.85 and a 52 week high of $129.17. The company has a 50-day moving average price of $106.97 and a 200 day moving average price of $112.27.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company had revenue of $995.00 million during the quarter, compared to the consensus estimate of $999.09 million. During the same period last year, the firm earned $1.01 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts predict that Akamai Technologies will post 4.84 earnings per share for the current year.

About Akamai Technologies

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.