Akamai Technologies (NASDAQ:AKAM) Coverage Initiated at Oppenheimer

Stock analysts at Oppenheimer initiated coverage on shares of Akamai Technologies (NASDAQ:AKAM - Get Free Report) in a report released on Thursday, MarketBeat Ratings reports. The firm set an "outperform" rating and a $100.00 price target on the technology infrastructure company's stock. Oppenheimer's price target would indicate a potential upside of 20.82% from the company's current price.

A number of other research analysts have also weighed in on the stock. Royal Bank of Canada cut their target price on shares of 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. Scotiabank decreased their target price on Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating for the company in a research note on Friday, February 21st. Bank of America downgraded Akamai Technologies from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $125.00 to $100.00 in a research report on Friday, February 21st. TD Cowen cut Akamai Technologies from a "buy" rating to a "hold" rating and reduced their price objective for the company from $125.00 to $98.00 in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Akamai Technologies from $76.00 to $72.00 and set an "underweight" rating on the stock in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $106.55.

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Akamai Technologies Stock Up 2.1 %

Shares of NASDAQ AKAM traded up $1.73 during mid-day trading on Thursday, reaching $82.77. 1,800,548 shares of the company traded hands, compared to its average volume of 1,830,244. The company's fifty day moving average is $90.45 and its two-hundred day moving average is $95.09. 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 has a fifty-two week low of $75.50 and a fifty-two week high of $110.14. The stock has a market cap of $12.44 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS 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 company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. On average, analysts expect that Akamai Technologies will post 4.6 earnings per share for the current year.

Insider Activity at Akamai Technologies

In other news, EVP Aaron Ahola sold 4,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $80.92, for a total value of $323,680.00. Following the sale, the executive vice president now owns 25,211 shares in the company, valued at approximately $2,040,074.12. The trade was a 13.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 price of $79.58 per share, with a total value of $2,997,778.60. Following the transaction, the chief executive officer now directly owns 137,342 shares in the company, valued at $10,929,676.36. This represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 35,394 shares of company stock valued at $3,019,323 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AKAM. SBI Securities Co. Ltd. acquired a new stake in Akamai Technologies during the 4th quarter valued at $49,000. Charles Schwab Investment Management Inc. increased its stake in shares of Akamai Technologies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company's stock valued at $90,083,000 after buying an additional 11,272 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Akamai Technologies by 49.6% in the fourth quarter. Van ECK Associates Corp now owns 2,746 shares of the technology infrastructure company's stock valued at $263,000 after buying an additional 910 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Akamai Technologies by 32.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company's stock valued at $19,018,000 after buying an additional 46,335 shares during the last quarter. Finally, Cascade Investment Advisors Inc. acquired a new position in Akamai Technologies during the 4th quarter worth about $827,000. 94.28% of the stock is owned by institutional investors and hedge funds.

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.