Akamai Technologies, Inc. (NASDAQ:AKAM) Receives $119.50 Consensus Target Price from Analysts

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have been given an average recommendation of “Moderate Buy” by the eighteen research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $119.50.

AKAM has been the subject of several recent research reports. Robert W. Baird upgraded shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and raised their target price for the company from $128.00 to $135.00 in a report on Thursday, March 7th. Susquehanna started coverage on shares of Akamai Technologies in a report on Friday, December 15th. They set a “positive” rating and a $150.00 target price for the company. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. HSBC downgraded shares of Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their price target for the stock from $109.00 to $96.00 in a report on Thursday, February 15th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a report on Wednesday, February 14th.

Akamai Technologies Stock Performance

Shares of AKAM opened at $108.76 on Tuesday. The company has a 50-day simple moving average of $114.77 and a 200-day simple moving average of $112.58. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $16.48 billion, a PE ratio of 30.81, a P/E/G ratio of 3.05 and a beta of 0.72. Akamai Technologies has a 52-week low of $76.28 and a 52-week high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. The business had revenue of $995.00 million during the quarter, compared to the consensus estimate of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 EPS. Equities research analysts predict that Akamai Technologies will post 4.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $117.58, for a total transaction of $470,320.00. Following the transaction, the executive vice president now directly owns 20,065 shares of the company’s stock, valued at $2,359,242.70. The sale was disclosed in a filing with the SEC, which is available at this link. In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $117.58, for a total transaction of $470,320.00. Following the transaction, the executive vice president now directly owns 20,065 shares of the company’s stock, valued at $2,359,242.70. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Anthony P. Williams sold 3,510 shares of Akamai Technologies stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $112.55, for a total transaction of $395,050.50. Following the sale, the executive vice president now owns 4,299 shares in the company, valued at approximately $483,852.45. The disclosure for this sale can be found here. Insiders have sold a total of 37,353 shares of company stock valued at $4,159,203 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Akamai Technologies

A number of hedge funds have recently made changes to their positions in AKAM. Ancora Advisors LLC increased its stake in shares of Akamai Technologies by 103.3% in the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 127 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of Akamai Technologies in the fourth quarter worth $37,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Akamai Technologies in the fourth quarter worth $43,000. Bruce G. Allen Investments LLC bought a new stake in shares of Akamai Technologies in the fourth quarter worth $44,000. Finally, Headinvest LLC bought a new stake in shares of Akamai Technologies in the third quarter worth $40,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

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.