Akamai Technologies, Inc. (NASDAQ:AKAM) Given Consensus Rating of “Hold” by Brokerages

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have been assigned an average recommendation of “Hold” from the twenty-one analysts that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $96.1111.

A number of analysts have issued reports on the stock. Scotiabank boosted their price target on shares of Akamai Technologies from $94.00 to $105.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 9th. Wall Street Zen lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. TD Cowen boosted their price target on shares of Akamai Technologies from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Thursday, November 13th. Citigroup increased their price objective on Akamai Technologies from $88.00 to $103.00 and gave the company a “neutral” rating in a research note on Friday, January 16th. Finally, Piper Sandler lifted their target price on Akamai Technologies from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Monday, January 5th.

Akamai Technologies Stock Performance

NASDAQ AKAM opened at $91.49 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.28 and a current ratio of 2.28. The stock’s fifty day moving average is $90.11 and its two-hundred day moving average is $82.20. The firm has a market capitalization of $13.16 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 3.32 and a beta of 0.70. Akamai Technologies has a fifty-two week low of $67.51 and a fifty-two week high of $104.97.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.22. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. Akamai Technologies had a net margin of 12.26% and a return on equity of 14.16%. Akamai Technologies’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.59 earnings per share. On average, research analysts anticipate that Akamai Technologies will post 4.6 earnings per share for the current year.

Insider Buying and Selling

In other Akamai Technologies news, CTO Robert Blumofe sold 3,500 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $97.00, for a total transaction of $339,500.00. Following the transaction, the chief technology officer owned 18,074 shares of the company’s stock, valued at approximately $1,753,178. This trade represents a 16.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Edward J. Mcgowan sold 6,560 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $88.03, for a total value of $577,476.80. Following the completion of the sale, the chief financial officer directly owned 16,442 shares of the company’s stock, valued at $1,447,389.26. The trade was a 28.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 28,818 shares of company stock valued at $2,589,254 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Akamai Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alberta Investment Management Corp purchased a new stake in Akamai Technologies during the second quarter worth about $822,000. Rakuten Investment Management Inc. purchased a new position in Akamai Technologies in the third quarter valued at about $5,323,000. Norges Bank acquired a new stake in shares of Akamai Technologies during the 2nd quarter valued at approximately $266,817,000. Nordea Investment Management AB boosted its stake in shares of Akamai Technologies by 39.9% during the 3rd quarter. Nordea Investment Management AB now owns 3,437,472 shares of the technology infrastructure company’s stock worth $258,739,000 after acquiring an additional 980,966 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Akamai Technologies by 82.6% in the 2nd quarter. Intech Investment Management LLC now owns 64,731 shares of the technology infrastructure company’s stock worth $5,163,000 after acquiring an additional 29,281 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Company Profile

Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.

The company’s core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.