Akamai Technologies, Inc. (NASDAQ:AKAM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have earned an average rating of “Moderate Buy” from the nineteen ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $116.47.

AKAM has been the subject of several recent analyst reports. Piper Sandler decreased their price target on Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. TD Cowen raised their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Scotiabank upped their price target on shares of Akamai Technologies from $110.00 to $115.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 9th. Hsbc Global Res upgraded shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $110.00 to $125.00 in a research report on Friday, August 9th.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the transaction, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $100.69, for a total value of $251,725.00. Following the sale, the chief technology officer now owns 22,010 shares of the company’s stock, valued at $2,216,186.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,500 shares of company stock worth $741,655. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

Several institutional investors have recently bought and sold shares of AKAM. EntryPoint Capital LLC bought a new stake in shares of Akamai Technologies during the 1st quarter worth about $31,000. Versant Capital Management Inc lifted its holdings in Akamai Technologies by 170.8% in the 2nd quarter. Versant Capital Management Inc now owns 306 shares of the technology infrastructure company’s stock worth $28,000 after purchasing an additional 193 shares during the last quarter. Innealta Capital LLC bought a new stake in Akamai Technologies during the second quarter worth approximately $28,000. Family Firm Inc. acquired a new position in Akamai Technologies during the second quarter valued at approximately $35,000. Finally, Covestor Ltd raised its position in shares of Akamai Technologies by 224.6% in the first quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock valued at $48,000 after purchasing an additional 310 shares during the period. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Trading Up 0.3 %

Shares of NASDAQ:AKAM opened at $103.58 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $100.28 and its 200 day moving average price is $97.42. The company has a market cap of $15.78 billion, a PE ratio of 25.77, a P/E/G ratio of 3.31 and a beta of 0.68. Akamai Technologies has a fifty-two week low of $87.59 and a fifty-two week high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The company had revenue of $979.60 million for the quarter, compared to analysts’ expectations of $977.67 million. During the same quarter in the previous year, the company posted $1.01 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts anticipate that Akamai Technologies will post 4.42 earnings per share for the current year.

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.