Akamai Technologies’ (AKAM) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Akamai Technologies (NASDAQ:AKAM) in a report issued on Friday morning,Benzinga reports.

Several other research analysts have also recently issued reports on the company. Evercore ISI reaffirmed an “outperform” rating and set a $110.00 price objective on shares of Akamai Technologies in a research report on Tuesday, December 17th. Piper Sandler downgraded shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $112.00 to $100.00 in a research report on Friday. Craig Hallum cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a report on Friday. Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and cut their price target for the stock from $125.00 to $100.00 in a research note on Friday. Finally, UBS Group began coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Akamai Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $107.90.

Akamai Technologies Stock Down 21.7 %

Shares of NASDAQ AKAM opened at $76.73 on Friday. Akamai Technologies has a 12-month low of $76.50 and a 12-month high of $113.36. The stock has a market cap of $11.53 billion, a P/E ratio of 22.70, a PEG ratio of 3.58 and a beta of 0.65. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The business’s fifty day simple moving average is $96.15 and its 200-day simple moving average is $97.86.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a net margin of 13.27% and a return on equity of 14.63%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. As a group, equities analysts predict that Akamai Technologies will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the sale, the director now owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. The trade was a 5.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the transaction, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,782 shares of company stock valued at $1,523,951. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp lifted its holdings in Akamai Technologies by 3.5% in the fourth quarter. Mackenzie Financial Corp now owns 2,427,580 shares of the technology infrastructure company’s stock valued at $232,198,000 after acquiring an additional 81,744 shares during the period. Forum Financial Management LP purchased a new position in shares of Akamai Technologies in the 4th quarter valued at about $252,000. Woodline Partners LP acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at about $458,000. Two Sigma Advisers LP boosted its holdings in Akamai Technologies by 23.5% during the fourth quarter. Two Sigma Advisers LP now owns 78,900 shares of the technology infrastructure company’s stock worth $7,547,000 after buying an additional 15,000 shares in the last quarter. Finally, Texas Bank & Trust Co acquired a new position in Akamai Technologies during the fourth quarter worth about $316,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

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.