Akamai Technologies (NASDAQ:AKAM) Price Target Cut to $125.00

Akamai Technologies (NASDAQ:AKAM) had its price objective decreased by stock analysts at Bank of America from $145.00 to $125.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the technology infrastructure company’s stock. Bank of America‘s price objective would indicate a potential upside of 22.00% from the company’s previous close.

AKAM has been the subject of a number of other reports. Piper Sandler boosted their target price on Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. KeyCorp lifted their price target on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. JPMorgan Chase & Co. increased their price objective on shares of Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Robert W. Baird raised shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $128.00 to $135.00 in a research report on Thursday, March 7th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $115.00 target price on shares of Akamai Technologies in a report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $119.27.

Akamai Technologies Price Performance

Shares of AKAM stock opened at $102.46 on Friday. The firm’s 50 day moving average price is $105.68 and its two-hundred day moving average price is $111.90. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. Akamai Technologies has a 52-week low of $83.12 and a 52-week high of $129.17. The stock has a market cap of $15.53 billion, a PE ratio of 29.03, a PEG ratio of 2.81 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, May 9th. The technology infrastructure company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.03). The company had revenue of $986.97 million for the quarter, compared to the consensus estimate of $989.03 million. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. Akamai Technologies’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. As a group, analysts forecast that Akamai Technologies will post 4.84 EPS for the current year.

Insider Activity

In related news, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the transaction, the chief operating officer now directly owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Adam Karon sold 14,349 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the transaction, the chief operating officer now owns 6,697 shares in the company, valued at approximately $735,196.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Anthony P. Williams sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total transaction of $489,285.00. Following the sale, the executive vice president now owns 14,938 shares of the company’s stock, valued at $1,624,208.74. The disclosure for this sale can be found here. Insiders sold a total of 30,753 shares of company stock valued at $3,368,303 over the last three months. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of Akamai Technologies by 0.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock valued at $4,120,000 after purchasing an additional 97 shares in the last quarter. Manchester Capital Management LLC raised its stake in Akamai Technologies by 6.4% during the 4th quarter. Manchester Capital Management LLC now owns 1,622 shares of the technology infrastructure company’s stock worth $192,000 after buying an additional 97 shares during the period. ORG Partners LLC boosted its holdings in Akamai Technologies by 16.7% in the fourth quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock worth $83,000 after acquiring an additional 100 shares in the last quarter. Private Trust Co. NA lifted its stake in Akamai Technologies by 17.9% during the 4th quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock valued at $84,000 after acquiring an additional 108 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Akamai Technologies by 0.7% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,625 shares of the technology infrastructure company’s stock worth $1,968,000 after acquiring an additional 108 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

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.