Akamai Technologies, Inc. (NASDAQ:AKAM) Receives Consensus Rating of "Moderate Buy" from Brokerages

Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) has earned an average recommendation of "Moderate Buy" from the nineteen brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $116.47.

A number of research firms have weighed in on AKAM. TD Cowen increased their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a "hold" rating on shares of Akamai Technologies in a research report on Friday, August 9th. Hsbc Global Res raised shares of Akamai Technologies from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, July 24th. DA Davidson reaffirmed a "buy" rating and set a $115.00 price objective on shares of Akamai Technologies in a research report on Friday, August 9th. Finally, Guggenheim raised shares of Akamai Technologies from a "neutral" rating to a "buy" rating and set a $128.00 price objective for the company in a research report on Monday, July 29th.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the firm's stock in a transaction on Friday, August 16th. The stock was 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 approximately $2,216,186.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the firm's stock in a transaction on Friday, August 16th. The stock was 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 approximately $2,216,186.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the firm's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the transaction, the director now owns 16,719 shares in the company, valued at approximately $1,684,104.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,500 shares of company stock worth $741,655. Corporate insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Akamai Technologies

A number of hedge funds have recently made changes to their positions in AKAM. Dimensional Fund Advisors LP raised its stake in shares of Akamai Technologies by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company's stock worth $156,088,000 after purchasing an additional 347,626 shares during the period. Champlain Investment Partners LLC raised its stake in shares of Akamai Technologies by 19.6% during the 1st quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company's stock worth $147,308,000 after purchasing an additional 222,290 shares during the period. Intech Investment Management LLC increased its holdings in Akamai Technologies by 409.2% in the 1st quarter. Intech Investment Management LLC now owns 248,045 shares of the technology infrastructure company's stock worth $26,977,000 after acquiring an additional 199,334 shares during the last quarter. Empyrean Capital Partners LP purchased a new stake in Akamai Technologies in the 2nd quarter worth about $15,314,000. Finally, Renaissance Technologies LLC increased its holdings in Akamai Technologies by 33.3% in the 2nd quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company's stock worth $58,678,000 after acquiring an additional 162,700 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Trading Up 3.7 %

NASDAQ:AKAM traded up $3.75 on Wednesday, reaching $104.71. 2,179,297 shares of the stock traded hands, compared to its average volume of 1,601,223. The firm has a market capitalization of $15.87 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 3.22 and a beta of 0.68. The company's 50 day moving average is $100.98 and its 200-day moving average is $97.20. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. Akamai Technologies has a 1-year low of $87.59 and a 1-year high of $129.17.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.05. The business had revenue of $979.60 million during the quarter, compared to the consensus estimate of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 EPS. Equities research analysts anticipate that Akamai Technologies will post 4.42 EPS for the current fiscal year.

About Akamai Technologies

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.