Analysts Set Akamai Technologies, Inc. (NASDAQ:AKAM) PT at $116.47

Akamai Technologies, Inc. (NASDAQ:AKAM) has earned a consensus rating of “Moderate Buy” from the nineteen research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $116.47.

AKAM has been the subject of a number of analyst reports. TD Cowen raised their price objective on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Scotiabank raised their price target on shares of Akamai Technologies from $110.00 to $115.00 and gave the company a “sector outperform” rating in a report on Friday, August 9th. Piper Sandler dropped their price target on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. Finally, HSBC raised shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price target on the stock in a report on Wednesday, July 24th.

Akamai Technologies Stock Up 0.1 %

NASDAQ:AKAM opened at $99.52 on Tuesday. The firm has a market cap of $15.16 billion, a P/E ratio of 24.75, a P/E/G ratio of 3.10 and a beta of 0.68. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32. Akamai Technologies has a fifty-two week low of $87.59 and a fifty-two week high of $129.17. The firm has a 50-day simple moving average of $98.11 and a two-hundred day simple moving average of $98.36.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The business had revenue of $979.60 million during the quarter, compared to analyst estimates of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. Akamai Technologies’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $1.01 EPS. Analysts predict that Akamai Technologies will post 4.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the transaction, the executive vice president now directly owns 30,703 shares in the company, valued at $2,987,401.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the completion of the transaction, the chief technology officer now directly owns 22,010 shares in the company, valued at $2,216,186.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the transaction, the executive vice president now directly owns 30,703 shares in the company, valued at approximately $2,987,401.90. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock worth $741,655 over the last three months. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Akamai Technologies

Several hedge funds have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Akamai Technologies by 2.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,253 shares of the technology infrastructure company’s stock worth $473,000 after buying an additional 118 shares in the last quarter. Garrison Asset Management LLC raised its stake in Akamai Technologies by 0.6% during the second quarter. Garrison Asset Management LLC now owns 21,264 shares of the technology infrastructure company’s stock valued at $1,915,000 after purchasing an additional 120 shares in the last quarter. Czech National Bank raised its stake in Akamai Technologies by 0.5% during the first quarter. Czech National Bank now owns 26,539 shares of the technology infrastructure company’s stock valued at $2,886,000 after purchasing an additional 121 shares in the last quarter. Wahed Invest LLC raised its stake in Akamai Technologies by 5.0% during the fourth quarter. Wahed Invest LLC now owns 2,547 shares of the technology infrastructure company’s stock valued at $301,000 after purchasing an additional 122 shares in the last quarter. Finally, X Square Capital LLC raised its stake in Akamai Technologies by 4.9% during the second quarter. X Square Capital LLC now owns 2,630 shares of the technology infrastructure company’s stock valued at $237,000 after purchasing an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

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.