Brokerages Set Akamai Technologies, Inc. (NASDAQ:AKAM) Price Target at $106.55

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twenty-two brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, ten have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $105.55.

Several equities analysts recently issued reports on AKAM shares. Piper Sandler cut their price objective on shares of Akamai Technologies from $100.00 to $80.00 and set a "neutral" rating on the stock in a report on Tuesday. Royal Bank of Canada reduced their price target on Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating for the company in a research report on Friday, February 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Akamai Technologies in a research report on Friday, February 21st. Bank of America downgraded shares of Akamai Technologies from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $125.00 to $100.00 in a report on Friday, February 21st. Finally, UBS Group initiated coverage on shares of Akamai Technologies in a report on Monday, December 16th. They issued a "neutral" rating and a $110.00 price target on the stock.

Akamai Technologies Stock Up 11.9 %

NASDAQ AKAM traded up $8.14 on Friday, reaching $76.35. 3,894,820 shares of the stock traded hands, compared to its average volume of 1,912,261. Akamai Technologies has a 12 month low of $67.05 and a 12 month high of $107.12. The company has a market cap of $11.16 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 2.74 and a beta of 0.80. The company has a fifty day moving average price of $85.27 and a 200-day moving average price of $93.13. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. As a group, research analysts forecast that Akamai Technologies will post 4.6 EPS for the current fiscal year.

Insider Activity

In related news, CEO F Thomson Leighton bought 37,670 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average cost of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now directly owns 137,342 shares in the company, valued at approximately $10,929,676.36. The trade was a 37.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the transaction, the executive vice president now directly owns 23,104 shares of the company's stock, valued at $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,394 shares of company stock valued at $3,019,323 in the last ninety days. Insiders own 1.80% of the company's stock.

Institutional Trading of Akamai Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AKAM. Norges Bank purchased a new stake in shares of Akamai Technologies during the 4th quarter worth about $477,454,000. First Trust Advisors LP raised its holdings in Akamai Technologies by 15.6% in the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company's stock worth $489,383,000 after purchasing an additional 690,341 shares during the period. National Pension Service boosted its position in Akamai Technologies by 595.3% during the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company's stock worth $30,504,000 after purchasing an additional 273,043 shares in the last quarter. GAMMA Investing LLC grew its holdings in Akamai Technologies by 5,951.4% in the first quarter. GAMMA Investing LLC now owns 253,978 shares of the technology infrastructure company's stock valued at $20,445,000 after purchasing an additional 249,781 shares during the period. Finally, Hsbc Holdings PLC increased its position in shares of Akamai Technologies by 43.4% in the fourth quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company's stock valued at $74,473,000 after buying an additional 235,394 shares in the last quarter. 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.