Akamai Technologies, Inc. (NASDAQ:AKAM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have received an average rating of “Moderate Buy” from the nineteen analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $116.47.

AKAM has been the subject of several analyst reports. Scotiabank boosted their target price on shares of Akamai Technologies from $110.00 to $115.00 and gave the company a “sector outperform” rating in a research note on Friday, August 9th. Piper Sandler decreased their price objective on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $110.00 to $125.00 in a research report on Friday, August 9th. DA Davidson reaffirmed a “buy” rating and issued a $115.00 price target on shares of Akamai Technologies in a report on Friday, August 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th.

Insider Activity

In related news, CTO Robert Blumofe sold 2,500 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $100.69, for a total transaction of $251,725.00. Following the transaction, the chief technology officer now directly owns 22,010 shares in the company, valued at $2,216,186.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $100.69, for a total value of $251,725.00. Following the completion of the sale, the chief technology officer now directly owns 22,010 shares in the company, valued at approximately $2,216,186.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the transaction, the executive vice president now owns 30,703 shares in the company, valued at approximately $2,987,401.90. The disclosure for this sale can be found here. Insiders sold 7,500 shares of company stock worth $741,655 over the last three months. Insiders own 1.80% of the company’s stock.

Institutional Trading of Akamai Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC increased its position in shares of Akamai Technologies by 19.6% during the 1st quarter. Janus Henderson Group PLC now owns 41,034 shares of the technology infrastructure company’s stock worth $4,462,000 after purchasing an additional 6,724 shares during the last quarter. Cibc World Markets Corp lifted its holdings in shares of Akamai Technologies by 131.6% in the 4th quarter. Cibc World Markets Corp now owns 19,433 shares of the technology infrastructure company’s stock worth $2,300,000 after acquiring an additional 11,044 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Akamai Technologies by 190.3% in the 4th quarter. Franklin Resources Inc. now owns 73,579 shares of the technology infrastructure company’s stock worth $8,708,000 after acquiring an additional 48,236 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Akamai Technologies by 3.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 480,908 shares of the technology infrastructure company’s stock valued at $56,915,000 after purchasing an additional 15,890 shares during the last quarter. Finally, TKG Advisors LLC purchased a new stake in Akamai Technologies in the fourth quarter valued at approximately $3,245,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Price Performance

Shares of AKAM opened at $100.72 on Tuesday. The business’s 50-day moving average is $98.20 and its two-hundred day moving average is $98.20. The company has a market capitalization of $15.34 billion, a P/E ratio of 25.05, a P/E/G ratio of 3.10 and a beta of 0.68. Akamai Technologies has a fifty-two week low of $87.59 and a fifty-two week high of $129.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The firm had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. During the same period last year, the company earned $1.01 earnings per share. Akamai Technologies’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts predict that Akamai Technologies will post 4.42 earnings per share 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.