Akamai Technologies (NASDAQ:AKAM) Price Target Lowered to $95.00 at Citigroup

Akamai Technologies (NASDAQ:AKAM) had its target price decreased by stock analysts at Citigroup from $102.00 to $95.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the technology infrastructure company’s stock. Citigroup’s target price points to a potential upside of 23.81% from the company’s previous close.

A number of other research firms have also commented on AKAM. Piper Sandler lowered shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $112.00 to $100.00 in a report on Friday. Robert W. Baird lowered their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a report on Monday, December 2nd. UBS Group started coverage on shares of Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target for the company. Finally, Craig Hallum lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a report on Friday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $107.55.

Akamai Technologies Stock Performance

AKAM stock opened at $76.73 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The company has a 50 day moving average price of $96.15 and a 200 day moving average price of $97.94. Akamai Technologies has a fifty-two week low of $76.50 and a fifty-two week high of $113.36. The stock has a market capitalization of $11.53 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 3.50 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last released its 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 14.47% and a net margin of 12.65%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Analysts forecast that Akamai Technologies will post 4.6 EPS for the current year.

Insider Activity

In other news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the sale, the director now directly owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. This represents a 5.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,782 shares of company stock valued at $1,523,951. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp raised its holdings in Akamai Technologies by 3.5% in the 4th quarter. Mackenzie Financial Corp now owns 2,427,580 shares of the technology infrastructure company’s stock valued at $232,198,000 after acquiring an additional 81,744 shares during the period. Forum Financial Management LP bought a new position in Akamai Technologies in the 4th quarter valued at about $252,000. Woodline Partners LP bought a new position in Akamai Technologies in the 4th quarter valued at about $458,000. Two Sigma Advisers LP raised its holdings in Akamai Technologies by 23.5% in the 4th quarter. Two Sigma Advisers LP now owns 78,900 shares of the technology infrastructure company’s stock valued at $7,547,000 after acquiring an additional 15,000 shares during the period. Finally, Texas Bank & Trust Co bought a new position in Akamai Technologies in the 4th quarter valued at about $316,000. 94.28% of the stock is owned by institutional investors.

About Akamai Technologies

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.