Akamai Technologies (NASDAQ:AKAM) Earns Outperform Rating from Analysts at Oppenheimer

Analysts at Oppenheimer assumed coverage on shares of Akamai Technologies (NASDAQ:AKAM) in a research report issued on Thursday. The brokerage set an “outperform” rating and a $100.00 price target on the technology infrastructure company’s stock. Oppenheimer’s price target suggests a potential upside of 22.12% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on AKAM. Evercore ISI reissued an “outperform” rating and set a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. Royal Bank of Canada decreased their target price on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a report on Friday, February 21st. Susquehanna decreased their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $106.55.

Akamai Technologies Trading Down 0.6 %

NASDAQ:AKAM traded down $0.52 during mid-day trading on Thursday, reaching $81.89. The company’s stock had a trading volume of 48,511 shares, compared to its average volume of 1,809,738. The stock has a market cap of $12.31 billion, a P/E ratio of 25.09, a P/E/G ratio of 2.74 and a beta of 0.68. Akamai Technologies has a twelve month low of $75.50 and a twelve month high of $110.18. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The company’s fifty day simple moving average is $90.98 and its two-hundred day simple moving average is $95.52.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 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 analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. On average, equities analysts predict that Akamai Technologies will post 4.6 EPS for the current year.

Insider Buying and Selling at Akamai Technologies

In related news, EVP Mani Sundaram sold 10,683 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $86.52, for a total transaction of $924,293.16. Following the sale, the executive vice president now directly owns 23,988 shares of the company’s stock, valued at approximately $2,075,441.76. This represents a 30.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction 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 $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,394 shares of company stock worth $3,019,323 in the last ninety days. 1.80% of the stock is owned by insiders.

Institutional Trading of Akamai Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. TCTC Holdings LLC grew its position in shares of Akamai Technologies by 17.0% during the 4th quarter. TCTC Holdings LLC now owns 702 shares of the technology infrastructure company’s stock valued at $67,000 after buying an additional 102 shares during the last quarter. Orion Portfolio Solutions LLC grew its stake in Akamai Technologies by 0.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 19,991 shares of the technology infrastructure company’s stock worth $1,912,000 after buying an additional 114 shares during the last quarter. D.A. Davidson & CO. grew its stake in Akamai Technologies by 1.3% during the 3rd quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock worth $894,000 after buying an additional 115 shares during the last quarter. Koshinski Asset Management Inc. increased its position in Akamai Technologies by 1.5% in the fourth quarter. Koshinski Asset Management Inc. now owns 7,867 shares of the technology infrastructure company’s stock worth $752,000 after buying an additional 116 shares during the period. Finally, Delta Capital Management LLC increased its holdings in shares of Akamai Technologies by 4.5% in the 4th quarter. Delta Capital Management LLC now owns 2,790 shares of the technology infrastructure company’s stock worth $267,000 after acquiring an additional 120 shares during the period. 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.