Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating)'s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $85.85 and last traded at $85.93, with a volume of 2073035 shares traded. The stock had previously closed at $88.56.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on AKAM shares. Truist Financial decreased their target price on Akamai Technologies from $135.00 to $125.00 and set a "buy" rating on the stock in a research report on Wednesday, August 10th. DA Davidson reduced their price objective on Akamai Technologies to $115.00 in a research note on Monday, August 15th. Robert W. Baird reduced their price objective on Akamai Technologies from $102.00 to $95.00 and set a "neutral" rating on the stock in a research note on Thursday, August 11th. TheStreet cut Akamai Technologies from a "b-" rating to a "c+" rating in a research note on Tuesday. Finally, KeyCorp reduced their price objective on Akamai Technologies from $123.00 to $116.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $118.21.
Get Akamai Technologies alerts:Akamai Technologies Stock Performance
The business has a fifty day simple moving average of $92.32 and a two-hundred day simple moving average of $100.72. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.92 and a quick ratio of 1.92. The company has a market cap of $13.32 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 1.71 and a beta of 0.66.
Akamai Technologies (NASDAQ:AKAM – Get Rating) last posted its earnings results on Tuesday, August 9th. The technology infrastructure company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.01. Akamai Technologies had a return on equity of 16.97% and a net margin of 16.18%. The company had revenue of $903.33 million during the quarter, compared to analyst estimates of $898.75 million. During the same quarter in the prior year, the business earned $1.18 earnings per share. Akamai Technologies's revenue was up 5.9% on a year-over-year basis. Research analysts anticipate that Akamai Technologies, Inc. will post 4.19 earnings per share for the current year.Insider Activity at Akamai Technologies
In other Akamai Technologies news, CTO Robert Blumofe sold 5,000 shares of the stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $94.25, for a total transaction of $471,250.00. Following the sale, the chief technology officer now directly owns 14,835 shares of the company's stock, valued at approximately $1,398,198.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by insiders.
Institutional Investors Weigh In On Akamai Technologies
A number of institutional investors have recently modified their holdings of AKAM. Lombard Odier Asset Management Europe Ltd lifted its stake in Akamai Technologies by 10,159.2% in the 4th quarter. Lombard Odier Asset Management Europe Ltd now owns 54,504,000 shares of the technology infrastructure company's stock worth $63,892,000 after purchasing an additional 53,972,730 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Akamai Technologies by 892.9% in the first quarter. Assenagon Asset Management S.A. now owns 628,180 shares of the technology infrastructure company's stock worth $74,998,000 after acquiring an additional 564,910 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Akamai Technologies by 4,398.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 432,039 shares of the technology infrastructure company's stock worth $51,581,000 after acquiring an additional 422,434 shares in the last quarter. Champlain Investment Partners LLC grew its stake in shares of Akamai Technologies by 24.1% in the second quarter. Champlain Investment Partners LLC now owns 2,106,855 shares of the technology infrastructure company's stock worth $192,419,000 after acquiring an additional 408,535 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Akamai Technologies by 15.8% in the fourth quarter. Alliancebernstein L.P. now owns 2,259,687 shares of the technology infrastructure company's stock worth $264,474,000 after acquiring an additional 308,711 shares in the last quarter. 92.23% of the stock is currently owned by institutional investors and hedge funds.
Akamai Technologies Company Profile
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Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.
Further Reading
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