Akamai Technologies, Inc. (NASDAQ:AKAM) Receives Average Rating of “Moderate Buy” from Analysts

Akamai Technologies, Inc. (NASDAQ:AKAMGet Free Report) has received an average recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $111.84.

AKAM has been the topic of several research analyst reports. KeyCorp increased their price target on shares of Akamai Technologies from $120.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday, November 8th. Tigress Financial reissued a “strong-buy” rating and set a $132.00 price target on shares of Akamai Technologies in a research note on Wednesday, September 20th. Susquehanna initiated coverage on shares of Akamai Technologies in a research note on Friday, December 15th. They set a “positive” rating and a $150.00 price target on the stock. Morgan Stanley increased their price target on shares of Akamai Technologies from $102.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 8th. Finally, Citigroup increased their price target on shares of Akamai Technologies from $105.00 to $112.00 and gave the company a “neutral” rating in a research note on Thursday, October 12th.

View Our Latest Stock Analysis on Akamai Technologies

Akamai Technologies Price Performance

Shares of Akamai Technologies stock opened at $117.71 on Thursday. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $17.75 billion, a price-to-earnings ratio of 35.45, a P/E/G ratio of 2.43 and a beta of 0.76. Akamai Technologies has a 1-year low of $70.65 and a 1-year high of $120.61. The firm’s 50-day moving average price is $115.88 and its two-hundred day moving average price is $106.50.

Akamai Technologies (NASDAQ:AKAMGet Free Report) last issued its quarterly earnings data on Tuesday, November 7th. The technology infrastructure company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.17). The firm had revenue of $965.48 million for the quarter, compared to the consensus estimate of $944.57 million. Akamai Technologies had a return on equity of 14.54% and a net margin of 13.76%. On average, equities analysts predict that Akamai Technologies will post 4.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $117.58, for a total transaction of $470,320.00. Following the completion of the sale, the executive vice president now owns 20,065 shares of the company’s stock, valued at $2,359,242.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CMO Kim Salem-Jackson sold 4,136 shares of the stock in a transaction on Friday, November 24th. The shares were sold at an average price of $113.50, for a total transaction of $469,436.00. Following the completion of the sale, the chief marketing officer now owns 29,873 shares of the company’s stock, valued at $3,390,585.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $117.58, for a total transaction of $470,320.00. Following the sale, the executive vice president now directly owns 20,065 shares of the company’s stock, valued at approximately $2,359,242.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,922 shares of company stock worth $2,480,245. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Akamai Technologies

Several large investors have recently made changes to their positions in the stock. Ancora Advisors LLC grew its position in Akamai Technologies by 103.3% in the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 127 shares in the last quarter. Mcmillion Capital Management Inc. bought a new position in Akamai Technologies in the second quarter valued at $34,000. Massmutual Trust Co. FSB ADV grew its position in Akamai Technologies by 178.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 401 shares of the technology infrastructure company’s stock valued at $36,000 after purchasing an additional 257 shares in the last quarter. Headinvest LLC bought a new position in Akamai Technologies in the third quarter valued at $40,000. Finally, Belpointe Asset Management LLC grew its position in Akamai Technologies by 50.1% in the first quarter. Belpointe Asset Management LLC now owns 509 shares of the technology infrastructure company’s stock valued at $40,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 91.40% of the company’s stock.

About Akamai Technologies

(Get Free Report

Akamai Technologies, Inc provides cloud services for securing, delivering, and computing content, applications, and software over the internet 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.

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Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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