Susquehanna Trims Akamai Technologies (NASDAQ:AKAM) Target Price to $135.00

Akamai Technologies (NASDAQ:AKAM) had its price objective decreased by investment analysts at Susquehanna from $150.00 to $135.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “positive” rating on the technology infrastructure company’s stock. Susquehanna’s target price suggests a potential upside of 31.76% from the stock’s previous close.

A number of other brokerages have also weighed in on AKAM. Robert W. Baird lowered their target price on Akamai Technologies from $135.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday. Piper Sandler upped their target price on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Bank of America dropped their price objective on shares of Akamai Technologies from $145.00 to $125.00 and set a “buy” rating for the company in a research report on Friday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $115.00 price target on shares of Akamai Technologies in a report on Wednesday, February 14th. Finally, StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies currently has an average rating of “Moderate Buy” and an average target price of $118.27.

Akamai Technologies Stock Up 0.3 %

AKAM opened at $102.46 on Friday. Akamai Technologies has a twelve month low of $83.12 and a twelve month high of $129.17. The firm has a market cap of $15.53 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 2.81 and a beta of 0.72. The firm’s 50-day simple moving average is $105.68 and its 200-day simple moving average is $111.90. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, May 9th. The technology infrastructure company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.03). Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The firm had revenue of $986.97 million for the quarter, compared to analyst estimates of $989.03 million. During the same period in the previous year, the business posted $1.01 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Akamai Technologies will post 4.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Anthony P. Williams sold 3,510 shares of Akamai Technologies stock in a transaction that occurred 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 of the company’s stock, valued at approximately $483,852.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Adam Karon sold 14,349 shares of Akamai Technologies stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the transaction, the chief operating officer now directly owns 6,697 shares in the company, valued at $735,196.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Anthony P. Williams sold 3,510 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $112.55, for a total value of $395,050.50. Following the sale, the executive vice president now owns 4,299 shares in the company, valued at $483,852.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,753 shares of company stock valued at $3,368,303. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Akamai Technologies in the fourth quarter valued at about $325,242,000. Jericho Capital Asset Management L.P. purchased a new position in Akamai Technologies in the 3rd quarter worth approximately $218,201,000. Los Angeles Capital Management LLC boosted its stake in Akamai Technologies by 123.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 736,236 shares of the technology infrastructure company’s stock worth $78,439,000 after purchasing an additional 407,321 shares during the period. Hsbc Holdings PLC grew its holdings in Akamai Technologies by 40.7% during the 3rd quarter. Hsbc Holdings PLC now owns 790,376 shares of the technology infrastructure company’s stock valued at $84,387,000 after buying an additional 228,529 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Akamai Technologies by 22.0% during the third quarter. Canada Pension Plan Investment Board now owns 1,266,406 shares of the technology infrastructure company’s stock valued at $134,923,000 after buying an additional 228,200 shares during the last quarter. 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.