Akamai Technologies (NASDAQ:AKAM) Price Target Lowered to $80.00 at Piper Sandler

Akamai Technologies (NASDAQ:AKAM - Get Free Report) had its target price lowered by stock analysts at Piper Sandler from $100.00 to $80.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the technology infrastructure company's stock. Piper Sandler's price target would suggest a potential upside of 8.04% from the stock's current price.

A number of other equities research analysts also recently commented on AKAM. Evercore ISI reiterated an "outperform" rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Scotiabank cut their price target on shares of Akamai Technologies from $115.00 to $107.00 and set a "sector outperform" rating on the stock in a research report on Friday, February 21st. Royal Bank of Canada reduced their price objective on shares of Akamai Technologies from $100.00 to $90.00 and set a "sector perform" rating on the stock in a research note on Friday, February 21st. Craig Hallum downgraded shares of Akamai Technologies from a "buy" rating to a "hold" rating and set a $90.00 target price for the company. in a research note on Friday, February 21st. Finally, UBS Group initiated coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They set a "neutral" rating and a $110.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $105.55.

Akamai Technologies Trading Up 2.1 %

Akamai Technologies stock traded up $1.49 during trading hours on Tuesday, reaching $74.05. 2,515,351 shares of the company's stock traded hands, compared to its average volume of 1,920,105. Akamai Technologies has a fifty-two week low of $67.51 and a fifty-two week high of $106.80. The firm's 50 day moving average is $84.24 and its 200-day moving average is $92.75. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The firm has a market capitalization of $10.82 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 2.74 and a beta of 0.80.

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

Insider Transactions at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 4,652 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $86.48, for a total transaction of $402,304.96. Following the completion of the transaction, the chief financial officer now directly owns 34,510 shares in the company, valued at $2,984,424.80. This represents a 11.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction dated 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 sale, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,394 shares of company stock valued at $3,019,323 in the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AKAM. MassMutual Private Wealth & Trust FSB grew its stake in shares of Akamai Technologies by 54.8% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company's stock valued at $35,000 after buying an additional 155 shares in the last quarter. Itau Unibanco Holding S.A. lifted its stake in Akamai Technologies by 99.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company's stock valued at $45,000 after acquiring an additional 234 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Akamai Technologies in the 4th quarter valued at about $49,000. Bruce G. Allen Investments LLC increased its stake in shares of Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company's stock worth $53,000 after purchasing an additional 155 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of Akamai Technologies in the 4th quarter valued at about $57,000. 94.28% of the stock is currently owned by institutional investors.

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.