Akamai Technologies (NASDAQ:AKAM) Given New $120.00 Price Target at Robert W. Baird

Akamai Technologies (NASDAQ:AKAM) had its price objective reduced by equities research analysts at Robert W. Baird from $135.00 to $120.00 in a report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the technology infrastructure company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 17.12% from the stock’s previous close.

Several other analysts have also recently weighed in on AKAM. KeyCorp upped their price objective on shares of Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Bank of America decreased their price target on Akamai Technologies from $145.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday. StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. HSBC cut shares of Akamai Technologies from a “hold” rating to a “reduce” rating and decreased their price target for the company from $109.00 to $96.00 in a research note on Thursday, February 15th. Finally, Citigroup decreased their price target on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.27.

Akamai Technologies Price Performance

Akamai Technologies stock opened at $102.46 on Friday. The business has a 50 day simple moving average of $105.68 and a 200 day simple moving average of $111.90. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market capitalization of $15.53 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 2.81 and a beta of 0.72. Akamai Technologies has a one year low of $83.12 and a one year high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, May 9th. The technology infrastructure company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.03). Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company had revenue of $986.97 million for the quarter, compared to the consensus estimate of $989.03 million. During the same period in the previous year, the business posted $1.01 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that Akamai Technologies will post 4.84 EPS for the current fiscal year.

Insider Activity at Akamai Technologies

In other news, COO Adam Karon sold 8,394 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $108.26, for a total value of $908,734.44. Following the sale, the chief operating officer now directly owns 21,046 shares in the company, valued at $2,278,439.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Anthony P. Williams sold 4,500 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $108.73, for a total value of $489,285.00. Following the completion of the transaction, the executive vice president now directly owns 14,938 shares of the company’s stock, valued at $1,624,208.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Adam Karon sold 8,394 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.26, for a total transaction of $908,734.44. Following the sale, the chief operating officer now directly owns 21,046 shares in the company, valued at $2,278,439.96. The disclosure for this sale can be found here. In the last three months, insiders sold 30,753 shares of company stock worth $3,368,303. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Duality Advisers LP acquired a new position in Akamai Technologies during the fourth quarter worth approximately $476,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in shares of Akamai Technologies during the 4th quarter worth approximately $1,184,000. RWA Wealth Partners LLC bought a new stake in Akamai Technologies in the 4th quarter valued at $4,441,000. Quadrature Capital Ltd acquired a new stake in Akamai Technologies during the 3rd quarter valued at $4,238,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Akamai Technologies during the fourth quarter worth $1,879,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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.