Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) has received a consensus recommendation of "Hold" from the nineteen brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $118.21.
A number of equities analysts have recently commented on the stock. DA Davidson cut their target price on shares of Akamai Technologies to $115.00 in a research note on Monday, August 15th. KeyCorp dropped their price target on shares of Akamai Technologies from $123.00 to $116.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 10th. Evercore ISI dropped their price target on shares of Akamai Technologies to $110.00 in a research note on Monday, August 15th. Piper Sandler dropped their price target on shares of Akamai Technologies from $118.00 to $102.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 6th. Finally, Truist Financial dropped their price target on shares of Akamai Technologies from $135.00 to $125.00 and set a "buy" rating on the stock in a research note on Wednesday, August 10th.
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Akamai Technologies Stock Performance
Shares of AKAM stock opened at $82.09 on Friday. The company's fifty day simple moving average is $92.22 and its 200-day simple moving average is $100.51. Akamai Technologies has a 52 week low of $81.40 and a 52 week high of $123.25. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.53. The company has a market cap of $13.05 billion, a PE ratio of 23.32, a P/E/G ratio of 1.71 and a beta of 0.66.
Akamai Technologies (NASDAQ:AKAM – Get Rating) last issued its earnings results on Tuesday, August 9th. The technology infrastructure company reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.01. Akamai Technologies had a net
margin of 16.18% and a return on equity of 16.97%. The business had revenue of $903.33 million for the quarter, compared to the consensus estimate of $898.75 million. During the same quarter last year, the firm posted $1.18 EPS. The business's revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Akamai Technologies will post 4.19 EPS for the current year.
Insider Transactions at Akamai Technologies
In other news, CTO Robert Blumofe sold 5,000 shares of Akamai Technologies stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $94.25, for a total value of $471,250.00. Following the completion of the transaction, the chief technology officer now directly owns 14,835 shares of the company's stock, valued at approximately $1,398,198.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.70% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of AKAM. Lombard Odier Asset Management Europe Ltd boosted its stake in Akamai Technologies by 10,159.2% during the 4th quarter. Lombard Odier Asset Management Europe Ltd now owns 54,504,000 shares of the technology infrastructure company's stock valued at $63,892,000 after purchasing an additional 53,972,730 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Akamai Technologies by 892.9% in the 1st 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 during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Akamai Technologies by 4,398.1% in the 1st 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 during the period. Champlain Investment Partners LLC lifted its stake in shares of Akamai Technologies by 24.1% in the 2nd 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 during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Akamai Technologies by 15.8% in the 4th 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 during the period. 92.23% of the stock is 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.
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