Akamai Technologies, Inc. (NASDAQ:AKAM) Receives $125.44 Average PT from Brokerages

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have earned a consensus recommendation of “Buy” from the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $125.44.

Several brokerages have recently commented on AKAM. Robert W. Baird restated a “buy” rating on shares of Akamai Technologies in a research note on Thursday, August 5th. Needham & Company LLC lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 4th. Piper Sandler raised their price target on shares of Akamai Technologies from $130.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 4th. Truist Securities raised their price target on shares of Akamai Technologies from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, August 4th. Finally, Raymond James started coverage on shares of Akamai Technologies in a research report on Monday, August 9th. They issued an “outperform” rating on the stock.

In related news, CTO Robert Blumofe sold 6,000 shares of the firm’s stock in a transaction on Friday, July 30th. The stock was sold at an average price of $118.54, for a total transaction of $711,240.00. Following the sale, the chief technology officer now owns 13,906 shares of the company’s stock, valued at approximately $1,648,417.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rick M. Mcconnell sold 7,219 shares of the firm’s stock in a transaction on Monday, July 12th. The stock was sold at an average price of $118.00, for a total value of $851,842.00. Following the sale, the insider now directly owns 29,776 shares in the company, valued at approximately $3,513,568. The disclosure for this sale can be found here. In the last three months, insiders sold 19,824 shares of company stock worth $2,355,682. 1.60% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. J.P. Marvel Investment Advisors LLC grew its stake in Akamai Technologies by 3.0% in the second quarter. J.P. Marvel Investment Advisors LLC now owns 89,336 shares of the technology infrastructure company’s stock valued at $10,417,000 after purchasing an additional 2,569 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Akamai Technologies by 3.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 639,956 shares of the technology infrastructure company’s stock worth $74,619,000 after purchasing an additional 22,363 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG raised its stake in shares of Akamai Technologies by 2.2% during the 2nd quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 7,095 shares of the technology infrastructure company’s stock worth $827,000 after purchasing an additional 154 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Akamai Technologies during the 2nd quarter worth approximately $662,000. Finally, Stonebridge Capital Advisors LLC raised its stake in shares of Akamai Technologies by 2.8% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 11,068 shares of the technology infrastructure company’s stock worth $1,291,000 after purchasing an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 90.23% of the company’s stock.

AKAM stock traded down $0.93 during midday trading on Monday, reaching $108.56. The company had a trading volume of 1,003,429 shares, compared to its average volume of 1,576,578. Akamai Technologies has a 1 year low of $92.64 and a 1 year high of $124.91. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $17.68 billion, a P/E ratio of 30.93, a PEG ratio of 2.06 and a beta of 0.43. The company has a 50 day moving average of $114.91 and a two-hundred day moving average of $111.38.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Monday, August 2nd. The technology infrastructure company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.30. Akamai Technologies had a net margin of 17.52% and a return on equity of 17.07%. The company had revenue of $852.82 million during the quarter, compared to the consensus estimate of $845.52 million. On average, sell-side analysts anticipate that Akamai Technologies will post 4.52 earnings per share for the current year.

Akamai Technologies Company Profile

Akamai Technologies, Inc engages in the provision of cloud services for delivering, optimizing, and securing content and business applications over the Internet. Its products include security, web performance, media delivery, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.

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Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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