Akamai Technologies (NASDAQ:AKAM) Stock Price Expected to Rise, DA Davidson Analyst Says

Akamai Technologies (NASDAQ:AKAM) had its target price lifted by equities researchers at DA Davidson from $115.00 to $125.00 in a report released on Thursday,MarketScreener reports. The brokerage currently has a “buy” rating on the technology infrastructure company’s stock. DA Davidson’s target price suggests a potential upside of 19.49% from the company’s previous close.

AKAM has been the subject of several other reports. Wall Street Zen downgraded Akamai Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Akamai Technologies in a report on Monday, December 29th. Citigroup raised their target price on shares of Akamai Technologies from $88.00 to $103.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. TD Cowen boosted their target price on shares of Akamai Technologies from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Thursday, November 13th. Finally, HSBC raised their price target on Akamai Technologies from $130.00 to $134.00 in a research note on Monday, November 10th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $97.50.

Akamai Technologies Trading Up 10.3%

NASDAQ:AKAM opened at $104.61 on Thursday. The stock has a market cap of $15.05 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 2.92 and a beta of 0.70. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.87. The company’s 50 day moving average price is $91.01 and its 200-day moving average price is $82.78. Akamai Technologies has a 52 week low of $67.51 and a 52 week high of $106.80.

Insider Transactions at Akamai Technologies

In other news, COO Adam Karon sold 3,320 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $87.30, for a total transaction of $289,836.00. Following the sale, the chief operating officer directly owned 7,785 shares in the company, valued at $679,630.50. This trade represents a 29.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Robert Blumofe sold 3,500 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $97.00, for a total value of $339,500.00. Following the completion of the sale, the chief technology officer owned 18,074 shares of the company’s stock, valued at $1,753,178. The trade was a 16.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 28,818 shares of company stock valued at $2,589,254. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. increased its holdings in shares of Akamai Technologies by 31.8% in the fourth quarter. Assetmark Inc. now owns 444 shares of the technology infrastructure company’s stock worth $39,000 after purchasing an additional 107 shares during the last quarter. Root Financial Partners LLC grew its holdings in shares of Akamai Technologies by 45.8% in the fourth quarter. Root Financial Partners LLC now owns 350 shares of the technology infrastructure company’s stock valued at $31,000 after purchasing an additional 110 shares in the last quarter. Perigon Wealth Management LLC increased its position in Akamai Technologies by 2.1% in the fourth quarter. Perigon Wealth Management LLC now owns 5,502 shares of the technology infrastructure company’s stock worth $480,000 after purchasing an additional 115 shares during the last quarter. Allworth Financial LP raised its stake in Akamai Technologies by 6.3% during the fourth quarter. Allworth Financial LP now owns 2,196 shares of the technology infrastructure company’s stock valued at $192,000 after purchasing an additional 131 shares in the last quarter. Finally, Siemens Fonds Invest GmbH grew its stake in shares of Akamai Technologies by 8.3% in the 3rd quarter. Siemens Fonds Invest GmbH now owns 2,043 shares of the technology infrastructure company’s stock worth $155,000 after buying an additional 156 shares in the last quarter. 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.