Akamai Technologies, Inc. (NASDAQ:AKAM) Receives $121.27 Consensus Target Price from Analysts

Akamai Technologies, Inc. (NASDAQ:AKAM) has earned an average rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $121.27.

Several brokerages have recently weighed in on AKAM. Piper Sandler upped their target price on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Robert W. Baird upgraded shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and upped their target price for the company from $128.00 to $135.00 in a research note on Thursday, March 7th. HSBC downgraded shares of Akamai Technologies from a “hold” rating to a “reduce” rating and decreased their target price for the company from $109.00 to $96.00 in a research note on Thursday, February 15th. JPMorgan Chase & Co. upped their target price on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research note on Wednesday, February 14th. Finally, KeyCorp upped their price target on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, January 19th.

Insider Buying and Selling

In related news, COO Adam Karon sold 14,349 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the sale, the chief operating officer now owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Anthony P. Williams sold 4,500 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $108.73, for a total value of $489,285.00. Following the sale, the executive vice president now owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Adam Karon sold 14,349 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the transaction, the chief operating officer now owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The disclosure for this sale can be found here. Insiders have sold a total of 33,353 shares of company stock valued at $3,688,883 in the last quarter. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Akamai Technologies in the 4th quarter valued at about $1,184,000. Quadrature Capital Ltd bought a new position in shares of Akamai Technologies during the 3rd quarter valued at about $4,238,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of Akamai Technologies during the 4th quarter valued at about $1,879,000. Alpine Global Management LLC bought a new position in shares of Akamai Technologies during the 3rd quarter valued at about $2,791,000. Finally, International Assets Investment Management LLC bought a new position in shares of Akamai Technologies during the 4th quarter valued at about $41,880,000. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $102.19 on Friday. Akamai Technologies has a one year low of $76.85 and a one year high of $129.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. The company has a 50 day moving average price of $107.32 and a 200 day moving average price of $112.37. The firm has a market capitalization of $15.48 billion, a price-to-earnings ratio of 28.95, a price-to-earnings-growth ratio of 2.85 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.59 by $0.10. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The firm had revenue of $995.00 million during the quarter, compared to analyst estimates of $999.09 million. During the same quarter in the prior year, the business posted $1.01 earnings per share. Akamai Technologies’s revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Akamai Technologies will post 4.84 EPS for the current year.

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.