Akamai Technologies (NASDAQ:AKAM) Price Target Raised to $69.00 at The Goldman Sachs Group

Akamai Technologies (NASDAQ:AKAM) had its price objective upped by The Goldman Sachs Group from $67.00 to $69.00 in a report issued on Friday morning,MarketScreener reports. They currently have a sell rating on the technology infrastructure company’s stock.

Other analysts also recently issued research reports about the stock. Morgan Stanley lowered their target price on shares of Akamai Technologies from $85.00 to $83.00 and set an “underweight” rating for the company in a report on Friday. Bank of America reduced their price objective on shares of Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, October 20th. Raymond James Financial dropped their target price on shares of Akamai Technologies from $110.00 to $84.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Scotiabank reduced their target price on Akamai Technologies from $95.00 to $94.00 and set a “hold” rating for the company in a report on Friday. Finally, Zacks Research raised Akamai Technologies to a “hold” rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, Akamai Technologies currently has a consensus rating of “Hold” and a consensus target price of $93.80.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock opened at $83.74 on Friday. Akamai Technologies has a 52 week low of $67.51 and a 52 week high of $103.75. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.92. The business has a 50 day moving average price of $75.93 and a 200-day moving average price of $77.23. The company has a market cap of $12.01 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 3.49 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.22. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.Akamai Technologies’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.59 earnings per share. Akamai Technologies has set its FY 2025 guidance at 6.930-7.130 EPS. Q4 2025 guidance at 1.650-1.850 EPS. Equities analysts anticipate that Akamai Technologies will post 4.6 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Robert Blumofe sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $86.00, for a total transaction of $301,000.00. Following the completion of the transaction, the chief technology officer owned 24,410 shares of the company’s stock, valued at approximately $2,099,260. The trade was a 12.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $75.76, for a total transaction of $303,040.00. Following the transaction, the executive vice president owned 21,211 shares of the company’s stock, valued at $1,606,945.36. This trade represents a 15.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 15,500 shares of company stock worth $1,218,290. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Akamai Technologies

Institutional investors have recently modified their holdings of the company. Opes Wealth Management LLC grew its position in Akamai Technologies by 2.7% during the first quarter. Opes Wealth Management LLC now owns 4,872 shares of the technology infrastructure company’s stock valued at $392,000 after acquiring an additional 128 shares during the last quarter. UMB Bank n.a. boosted its position in Akamai Technologies by 50.8% during the 2nd quarter. UMB Bank n.a. now owns 395 shares of the technology infrastructure company’s stock valued at $32,000 after buying an additional 133 shares during the period. Horizon Investments LLC grew its holdings in Akamai Technologies by 7.2% in the 1st quarter. Horizon Investments LLC now owns 2,220 shares of the technology infrastructure company’s stock worth $179,000 after acquiring an additional 149 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Akamai Technologies by 24.3% in the third quarter. Hantz Financial Services Inc. now owns 830 shares of the technology infrastructure company’s stock valued at $63,000 after acquiring an additional 162 shares during the period. Finally, HighPoint Advisor Group LLC raised its stake in shares of Akamai Technologies by 3.4% during the first quarter. HighPoint Advisor Group LLC now owns 5,364 shares of the technology infrastructure company’s stock valued at $434,000 after acquiring an additional 176 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

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.