Analysts Set Akamai Technologies, Inc. (NASDAQ:AKAM) Target Price at $116.47

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have been given a consensus recommendation of “Moderate Buy” by the nineteen ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $116.47.

A number of equities analysts have recently commented on the stock. HSBC raised shares of Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price target on the stock in a report on Wednesday, July 24th. TD Cowen upped their price objective 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 15th. Finally, Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective for the company in a research note on Monday, July 29th.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM opened at $99.52 on Tuesday. The company’s fifty day moving average price is $98.11 and its 200-day moving average price is $98.36. The firm has a market capitalization of $15.16 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 3.10 and a beta of 0.68. Akamai Technologies has a one year low of $87.59 and a one year high of $129.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. The firm had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 EPS. On average, equities research analysts anticipate that Akamai Technologies will post 4.42 earnings per share for the current fiscal year.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $100.69, for a total value of $251,725.00. Following the completion of the sale, the chief technology officer now directly owns 22,010 shares of the company’s stock, valued at approximately $2,216,186.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,500 shares of company stock valued at $741,655. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AKAM. Versant Capital Management Inc increased its stake in shares of 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 acquiring an additional 193 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Akamai Technologies in the 2nd quarter worth about $28,000. EntryPoint Capital LLC bought a new position in shares of Akamai Technologies in the 1st quarter worth about $31,000. Family Firm Inc. bought a new position in shares of Akamai Technologies in the 2nd quarter worth about $35,000. Finally, Covestor Ltd increased its stake in shares of Akamai Technologies by 224.6% in the 1st quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock worth $48,000 after acquiring 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.