Analysts Set Akamai Technologies, Inc. (NASDAQ:AKAM) Price Target at $121.27

Akamai Technologies, Inc. (NASDAQ:AKAM) has received a consensus rating of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $121.27.

AKAM has been the topic of a number of research reports. Robert W. Baird raised Akamai Technologies from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $128.00 to $135.00 in a report on Thursday, March 7th. Piper Sandler upped their target price on Akamai Technologies from $130.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. HSBC downgraded Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their target price for the stock from $109.00 to $96.00 in a research note on Thursday, February 15th. KeyCorp upped their target price on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $115.00 target price on shares of Akamai Technologies in a research note on Wednesday, February 14th.

Akamai Technologies Trading Down 0.6 %

Shares of NASDAQ:AKAM opened at $100.88 on Friday. The business’s 50-day moving average is $108.03 and its 200 day moving average is $112.47. Akamai Technologies has a 1 year low of $76.85 and a 1 year high of $129.17. The firm has a market capitalization of $15.29 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.87 and a beta of 0.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. The business had revenue of $995.00 million for the quarter, compared to analyst estimates of $999.09 million. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 earnings per share. On average, research analysts predict that Akamai Technologies will post 4.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the transaction, the chief marketing officer now owns 27,663 shares in the company, valued at $3,410,847.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total value of $1,575,233.22. Following the transaction, the chief operating officer now owns 6,697 shares in the company, valued at $735,196.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Kim Salem-Jackson sold 2,600 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the transaction, the chief marketing officer now owns 27,663 shares in the company, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,353 shares of company stock worth $3,688,883. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Akamai Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Planned Solutions Inc. purchased a new position in shares of Akamai Technologies in the fourth quarter valued at approximately $37,000. Headinvest LLC purchased a new position in shares of Akamai Technologies in the third quarter valued at approximately $40,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Akamai Technologies in the fourth quarter valued at approximately $43,000. Bruce G. Allen Investments LLC purchased a new position in shares of Akamai Technologies in the fourth quarter valued at approximately $44,000. Finally, Lindbrook Capital LLC lifted its position in shares of Akamai Technologies by 43.7% in the fourth quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock valued at $49,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors 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.