Akamai Technologies (NASDAQ:AKAM) Price Target Lowered to $95.00 at Citigroup

Akamai Technologies (NASDAQ:AKAM) had its target price dropped by Citigroup from $102.00 to $95.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the technology infrastructure company’s stock. Citigroup’s price objective would suggest a potential upside of 23.81% from the company’s current price.

AKAM has been the topic of a number of other research reports. Scotiabank decreased their target price on shares of Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a research report on Friday. Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $125.00 to $100.00 in a research report on Friday. Craig Hallum lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price target on the stock. in a research report on Friday. Susquehanna reduced their price target 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, Evercore ISI reiterated an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $107.55.

Akamai Technologies Stock Performance

Shares of NASDAQ:AKAM opened at $76.73 on Monday. The company’s 50 day moving average price is $96.15 and its two-hundred day moving average price is $97.94. Akamai Technologies has a 12-month low of $76.50 and a 12-month high of $113.36. The firm has a market cap of $11.53 billion, a PE ratio of 23.54, a PEG ratio of 3.50 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 (NASDAQ:AKAM) last announced its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.47% and a net margin of 12.65%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Equities research analysts predict that Akamai Technologies will post 4.6 earnings per share for the current year.

Insider Activity

In other news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the transaction, the executive vice president now owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the transaction, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at $1,255,196.36. The trade was a 45.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,782 shares of company stock valued at $1,523,951. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

A number of hedge funds have recently bought and sold shares of AKAM. Norges Bank bought a new position in Akamai Technologies during the fourth quarter worth $477,454,000. First Trust Advisors LP raised its stake in Akamai Technologies by 15.6% during 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 buying an additional 690,341 shares during the last quarter. National Pension Service raised its stake in Akamai Technologies by 595.3% during the fourth 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 last quarter. Hsbc Holdings PLC raised its stake in Akamai Technologies by 43.4% during the fourth quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company’s stock worth $74,473,000 after buying an additional 235,394 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after buying an additional 202,746 shares during the last quarter. 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.