Akamai Technologies (NASDAQ:AKAM) Price Target Cut to $72.00 by Analysts at JPMorgan Chase & Co.

Akamai Technologies (NASDAQ:AKAM) had its target price lowered by JPMorgan Chase & Co. from $76.00 to $72.00 in a research report report published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the technology infrastructure company’s stock.

A number of other research firms have also weighed in on AKAM. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a report on Monday, November 11th. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. TD Cowen cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and lowered their target price for the stock from $125.00 to $98.00 in a research note on Friday. Evercore ISI restated an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. Finally, Piper Sandler downgraded Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $112.00 to $100.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $107.90.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $76.73 on Friday. The firm’s 50 day moving average is $96.15 and its 200 day moving average is $97.86. The stock has a market capitalization of $11.53 billion, a P/E ratio of 22.70, a PEG ratio of 3.58 and a beta of 0.65. Akamai Technologies has a 12 month low of $76.50 and a 12 month high of $113.36. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a return on equity of 14.63% and a net margin of 13.27%. On average, sell-side analysts anticipate that Akamai Technologies will post 4.28 earnings per share for the current year.

Insider Activity at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the sale, the director now directly owns 15,719 shares in the company, valued at $1,467,840.22. This represents a 5.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 12,716 shares in the company, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,782 shares of company stock valued at $1,523,951. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AKAM. Norges Bank bought a new stake in Akamai Technologies during the 4th quarter valued at $477,454,000. First Trust Advisors LP raised its stake in shares of Akamai Technologies by 15.6% during 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 acquiring an additional 690,341 shares during the last quarter. National Pension Service raised its stake in shares of Akamai Technologies by 595.3% during the fourth quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock valued at $30,504,000 after acquiring an additional 273,043 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Akamai Technologies by 43.4% during the fourth 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 during the period. Finally, Geode Capital Management LLC grew its stake in shares of Akamai Technologies by 5.1% in the third 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 last quarter. Institutional investors own 94.28% of the company’s stock.

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.