Analysts Set Akamai Technologies, Inc. (NASDAQ:AKAM) PT at $121.27

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $121.27.

AKAM has been the subject of a number of research analyst reports. HSBC lowered Akamai Technologies from a “hold” rating to a “reduce” rating and dropped their price target for the stock from $109.00 to $96.00 in a research note on Thursday, February 15th. JPMorgan Chase & Co. raised their price target on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. KeyCorp raised their price target on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $115.00 price target on shares of Akamai Technologies in a research note on Wednesday, February 14th. Finally, StockNews.com raised Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th.

Akamai Technologies Stock Down 0.6 %

Shares of AKAM opened at $100.88 on Friday. The firm has a market cap of $15.29 billion, a P/E ratio of 28.58, a P/E/G ratio of 2.87 and a beta of 0.72. The stock has a 50 day simple moving average of $108.03 and a two-hundred day simple moving average of $112.47. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16. Akamai Technologies has a 1 year low of $76.85 and a 1 year high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. The firm had revenue of $995.00 million during the quarter, compared to analyst estimates of $999.09 million. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 earnings per share. On average, analysts forecast that Akamai Technologies will post 4.84 earnings per share for the current fiscal year.

Insider Activity

In other news, CMO Kim Salem-Jackson sold 2,600 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total transaction of $320,580.00. Following the completion of the transaction, the chief marketing officer now directly owns 27,663 shares in the company, valued at $3,410,847.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CMO Kim Salem-Jackson sold 2,600 shares of Akamai Technologies stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the sale, the chief marketing officer now directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Anthony P. Williams sold 3,510 shares of Akamai Technologies stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $112.55, for a total value of $395,050.50. Following the completion of the sale, the executive vice president now owns 4,299 shares of the company’s stock, valued at $483,852.45. The disclosure for this sale can be found here. Insiders sold 33,353 shares of company stock worth $3,688,883 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Akamai Technologies

Several large investors have recently bought and sold shares of AKAM. Norges Bank purchased a new position in Akamai Technologies in the fourth quarter worth about $325,242,000. Jericho Capital Asset Management L.P. purchased a new position in Akamai Technologies in the third quarter worth about $218,201,000. Los Angeles Capital Management LLC boosted its position in Akamai Technologies by 123.8% in the third quarter. Los Angeles Capital Management LLC now owns 736,236 shares of the technology infrastructure company’s stock worth $78,439,000 after purchasing an additional 407,321 shares during the last quarter. Hsbc Holdings PLC boosted its position in Akamai Technologies by 40.7% in the third quarter. Hsbc Holdings PLC now owns 790,376 shares of the technology infrastructure company’s stock worth $84,387,000 after purchasing an additional 228,529 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Akamai Technologies by 22.0% in the third quarter. Canada Pension Plan Investment Board now owns 1,266,406 shares of the technology infrastructure company’s stock worth $134,923,000 after purchasing an additional 228,200 shares during the last quarter. 94.28% of the stock is currently owned by 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.