Akamai Technologies (NASDAQ:AKAM) Given New $115.00 Price Target at Robert W. Baird

Akamai Technologies (NASDAQ:AKAM - Free Report) had its price target lowered by Robert W. Baird from $120.00 to $115.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an outperform rating on the technology infrastructure company's stock.

A number of other analysts have also recently commented on AKAM. Guggenheim upgraded Akamai Technologies from a "neutral" rating to a "buy" rating and set a $128.00 price target for the company in a research report on Monday, July 29th. HSBC upgraded shares of Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 target price on the stock in a research note on Monday. Needham & Company LLC reiterated a "hold" rating on shares of Akamai Technologies in a research report on Friday, August 9th. Scotiabank decreased their price objective on shares of Akamai Technologies from $115.00 to $112.00 and set a "sector outperform" rating on the stock in a research report on Friday. Finally, Tigress Financial restated a "strong-buy" rating and set a $140.00 target price on shares of Akamai Technologies in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $117.47.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM traded up $1.70 during midday trading on Monday, hitting $91.07. 3,312,442 shares of the company's stock traded hands, compared to its average volume of 1,647,715. The firm has a fifty day moving average of $100.87 and a 200 day moving average of $97.16. Akamai Technologies has a 1 year low of $87.59 and a 1 year high of $129.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market capitalization of $13.80 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 3.36 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.05. The business had revenue of $979.60 million for 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 quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $1.01 earnings per share. On average, analysts forecast that Akamai Technologies will post 4.42 earnings per share for the current year.

Insider Activity at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 of the company's stock, valued at $1,684,104.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares in the company, valued at approximately $2,987,401.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the business's stock in a transaction on Tuesday, August 27th. The stock was 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. Insiders sold 7,500 shares of company stock worth $741,655 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its position in Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company's stock worth $25,000 after purchasing an additional 114 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company's stock worth $28,000 after acquiring an additional 193 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Akamai Technologies in the 2nd quarter valued at about $28,000. EntryPoint Capital LLC purchased a new position in Akamai Technologies during the first quarter worth approximately $31,000. Finally, Family Firm Inc. acquired a new stake in Akamai Technologies in the second quarter valued at approximately $35,000. 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.