Brokerages Set Akamai Technologies, Inc. (NASDAQ:AKAM) Target Price at $117.95

Akamai Technologies, Inc. (NASDAQ:AKAM) has been assigned an average rating of “Moderate Buy” from the twenty-one analysts that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $117.95.

A number of research analysts recently weighed in on the company. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. UBS Group assumed coverage on Akamai Technologies in a research report on Monday, December 16th. They set a “neutral” rating and a $110.00 target price on the stock. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research report on Monday, December 2nd. Robert W. Baird lowered their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Finally, Citigroup reduced their price objective on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a report on Friday, January 17th.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $98.05 on Friday. The firm has a 50 day moving average of $96.60 and a 200-day moving average of $97.96. The company has a market cap of $14.73 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 3.55 and a beta of 0.65. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies has a 52 week low of $84.70 and a 52 week high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.63% and a net margin of 13.27%. On average, equities analysts forecast that Akamai Technologies will post 4.28 earnings per share for the current year.

Insider Transactions at Akamai Technologies

In related news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the transaction, the executive vice president now owns 23,104 shares in the company, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the sale, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at $1,255,196.36. This represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,782 shares of company stock worth $1,523,951 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Akamai Technologies

Institutional investors have recently modified their holdings of the business. Norges Bank purchased a new position in Akamai Technologies in the 4th quarter valued at approximately $477,454,000. First Trust Advisors LP grew its position in shares of Akamai Technologies by 15.6% in the fourth quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock valued at $489,383,000 after purchasing an additional 690,341 shares in the last quarter. National Pension Service raised its stake in shares of Akamai Technologies by 595.3% during the 4th quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock valued at $30,504,000 after purchasing an additional 273,043 shares during the period. Hsbc Holdings PLC lifted its holdings in Akamai Technologies by 43.4% during the 4th quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company’s stock worth $74,473,000 after purchasing an additional 235,394 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Akamai Technologies by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after purchasing an additional 202,746 shares during the period. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

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.