Akamai Technologies, Inc. (NASDAQ:AKAM) Receives $116.00 Average Price Target from Analysts

Akamai Technologies, Inc. (NASDAQ:AKAM) has been assigned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $116.47.

AKAM has been the topic of several research reports. DA Davidson reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research report on Friday, August 9th. Raymond James lowered their price target on shares of Akamai Technologies from $138.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. KeyCorp lowered their price target on shares of Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. StockNews.com lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research report on Friday, August 9th.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $101.60 on Friday. The firm has a market cap of $15.48 billion, a price-to-earnings ratio of 25.27, a P/E/G ratio of 4.57 and a beta of 0.67. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25. Akamai Technologies has a 52 week low of $87.59 and a 52 week high of $129.17. The firm’s 50-day simple moving average is $95.69 and its two-hundred day simple moving average is $99.89.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. The business had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. Akamai Technologies had a net margin of 16.12% and a return on equity of 15.02%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 earnings per share. As a group, equities analysts forecast that Akamai Technologies will post 4.38 earnings per share for the current year.

Akamai Technologies announced that its Board of Directors has initiated a share buyback plan on Thursday, May 9th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the technology infrastructure company to reacquire up to 13.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the sale, the director now owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total transaction of $100,730.00. Following the completion of the sale, the director now directly owns 16,719 shares in the company, valued at approximately $1,684,104.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Robert Blumofe sold 2,500 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $100.69, for a total transaction of $251,725.00. Following the completion of the transaction, the chief technology officer now owns 22,010 shares of the company’s stock, valued at $2,216,186.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,500 shares of company stock valued at $617,475. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its position in Akamai Technologies by 170.8% during the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock valued at $28,000 after acquiring an additional 193 shares during the period. Innealta Capital LLC bought a new stake in Akamai Technologies during the 2nd quarter valued at about $28,000. EntryPoint Capital LLC bought a new stake in Akamai Technologies during the 1st quarter valued at about $31,000. Family Firm Inc. bought a new stake in Akamai Technologies during the 2nd quarter valued at about $35,000. Finally, Covestor Ltd increased its stake in Akamai Technologies by 224.6% during the 1st quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock valued at $48,000 after purchasing an additional 310 shares in 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.