Akamai Technologies, Inc. (NASDAQ:AKAM) Receives $113.65 Consensus Target Price from Analysts

Akamai Technologies, Inc. (NASDAQ:AKAM) has been assigned an average rating of “Moderate Buy” from the twenty research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $114.44.

Several research firms have recently commented on AKAM. Craig Hallum cut their price objective on Akamai Technologies from $120.00 to $110.00 and set a “hold” rating for the company in a report on Friday, May 10th. Hsbc Global Res raised Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. 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 report on Friday, May 10th. Piper Sandler cut their price objective on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, TD Cowen cut their price objective on Akamai Technologies from $130.00 to $129.00 and set a “buy” rating for the company in a report on Friday, May 10th.

Akamai Technologies Trading Down 0.9 %

NASDAQ:AKAM opened at $94.56 on Monday. Akamai Technologies has a twelve month low of $87.59 and a twelve month high of $129.17. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76. The business has a 50 day moving average price of $92.27 and a two-hundred day moving average price of $102.86. The company has a market cap of $14.40 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 4.57 and a beta of 0.67.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.03. The firm had revenue of $986.97 million during the quarter, compared to the consensus estimate of $989.03 million. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 EPS. As a group, analysts expect that Akamai Technologies will post 4.38 EPS for the current fiscal year.

Akamai Technologies declared that its board has authorized a stock repurchase program on Thursday, May 9th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the technology infrastructure company to reacquire up to 13.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Anthony P. Williams sold 5,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.58, for a total transaction of $467,900.00. Following the transaction, the executive vice president now owns 9,938 shares in the company, valued at approximately $929,998.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO F Thomson Leighton purchased 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average price of $92.68 per share, for a total transaction of $2,038,960.00. Following the completion of the transaction, the chief executive officer now owns 2,342,621 shares of the company’s stock, valued at $217,114,114.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Anthony P. Williams sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.58, for a total value of $467,900.00. Following the completion of the transaction, the executive vice president now owns 9,938 shares in the company, valued at approximately $929,998.04. The disclosure for this sale can be found here. Insiders have sold 9,000 shares of company stock worth $826,460 in the last 90 days. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Akamai Technologies

Several large investors have recently bought and sold shares of AKAM. Versant Capital Management Inc boosted its stake in Akamai Technologies by 170.8% in the second quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after buying an additional 193 shares in the last quarter. Innealta Capital LLC acquired a new stake in Akamai Technologies in the second quarter valued at about $28,000. EntryPoint Capital LLC acquired a new stake in Akamai Technologies in the first quarter valued at about $31,000. Family Firm Inc. acquired a new stake in Akamai Technologies in the second quarter valued at about $35,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in Akamai Technologies in the fourth quarter valued at about $43,000. 94.28% of the stock is owned by institutional investors and hedge funds.

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.