Akamai Technologies (NASDAQ:AKAM) Price Target Lowered to $110.00 at Raymond James

Akamai Technologies (NASDAQ:AKAM) had its price objective cut by Raymond James from $115.00 to $110.00 in a report published on Friday,Benzinga reports. They currently have an outperform rating on the technology infrastructure company’s stock.

AKAM has been the topic of several other reports. Evercore ISI restated an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a research report on Tuesday, December 17th. JPMorgan Chase & Co. decreased their target price on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday. UBS Group began coverage on Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target for the company. Susquehanna reduced their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday. Finally, Piper Sandler downgraded shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $112.00 to $100.00 in a report on Friday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.90.

Akamai Technologies Stock Down 21.7 %

AKAM stock opened at $76.73 on Friday. The business’s 50-day moving average price is $96.15 and its 200-day moving average price is $97.86. The stock has a market cap of $11.53 billion, a P/E ratio of 22.70, a PEG ratio of 3.58 and a beta of 0.65. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies has a twelve month low of $76.50 and a twelve month high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a net margin of 13.27% and a return on equity of 14.63%. On average, equities research analysts forecast that Akamai Technologies will post 4.28 EPS for the current year.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the sale, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the transaction, the director now directly owns 15,719 shares in the company, valued at approximately $1,467,840.22. This represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,782 shares of company stock worth $1,523,951. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

A number of large investors have recently bought and sold shares of AKAM. Norges Bank purchased a new stake in Akamai Technologies in the fourth quarter worth $477,454,000. First Trust Advisors LP grew its holdings in shares of Akamai Technologies by 15.6% in the fourth quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock worth $489,383,000 after purchasing an additional 690,341 shares during the last quarter. National Pension Service increased its stake in Akamai Technologies by 595.3% in the 4th quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock worth $30,504,000 after buying an additional 273,043 shares during the period. Hsbc Holdings PLC lifted its holdings in Akamai Technologies by 43.4% during the 4th quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company’s stock valued at $74,473,000 after buying an additional 235,394 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Akamai Technologies by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after buying an additional 202,746 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

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.