TheStreet cut shares of Akamai Technologies (NASDAQ:AKAM – Get Rating) from a b- rating to a c+ rating in a research report sent to investors on Tuesday morning, TheStreetRatingsTable reports.
Other research analysts have also issued reports about the company. Truist Financial lowered their price objective on Akamai Technologies from $135.00 to $125.00 and set a buy rating for the company in a research report on Wednesday, August 10th. DA Davidson cut their target price on Akamai Technologies to $115.00 in a research report on Monday, August 15th. Morgan Stanley lowered their price target on Akamai Technologies from $110.00 to $102.00 and set an equal weight rating on the stock in a report on Wednesday, August 10th. Evercore ISI lowered their price objective on Akamai Technologies to $110.00 in a report on Monday, August 15th. Finally, StockNews.com raised Akamai Technologies from a hold rating to a buy rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $118.21.
Get Akamai Technologies alerts:Akamai Technologies Trading Down 2.0 %
Shares of NASDAQ AKAM opened at $82.09 on Tuesday. The firm has a market cap of $13.05 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 1.71 and a beta of 0.66. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.53. Akamai Technologies has a twelve month low of $81.40 and a twelve month high of $123.25. The business has a fifty day simple moving average of $92.22 and a two-hundred day simple moving average of $100.51.
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, topping analysts' consensus estimates of $1.02 by $0.01. The firm had revenue of $903.33 million for the quarter, compared to the consensus estimate of $898.75 million. Akamai Technologies had a return on equity of 16.97% and a net margin of 16.18%. The company's revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.18 earnings per share. Analysts expect that Akamai Technologies will post 4.19 earnings per share for the current fiscal year.Insider Transactions at Akamai Technologies
In other news, CTO Robert Blumofe sold 5,000 shares of the stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $94.25, for a total transaction of $471,250.00. Following the transaction, the chief technology officer now owns 14,835 shares of the company's stock, valued at $1,398,198.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.70% of the company's stock.
Institutional Investors Weigh In On Akamai Technologies
Several large investors have recently made changes to their positions in AKAM. Federated Hermes Inc. boosted its holdings in Akamai Technologies by 73.6% during the second quarter. Federated Hermes Inc. now owns 2,418 shares of the technology infrastructure company's stock worth $221,000 after buying an additional 1,025 shares in the last quarter. Private Trust Co. NA acquired a new stake in shares of Akamai Technologies in the 2nd quarter valued at $75,000. Tandem Investment Advisors Inc. acquired a new stake in shares of Akamai Technologies in the 2nd quarter valued at $340,000. Hussman Strategic Advisors Inc. lifted its stake in shares of Akamai Technologies by 50.0% in the 2nd quarter. Hussman Strategic Advisors Inc. now owns 31,200 shares of the technology infrastructure company's stock valued at $2,849,000 after purchasing an additional 10,400 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Akamai Technologies by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 2,737,721 shares of the technology infrastructure company's stock valued at $250,036,000 after purchasing an additional 149,461 shares during the last quarter. Institutional investors and hedge funds own 92.23% of the company's stock.
About Akamai Technologies
(Get Rating)
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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