Brokerages Set Akamai Technologies, Inc. (NASDAQ:AKAM) Target Price at $113.65

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have received an average rating of “Moderate Buy” from the twenty research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned 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 issued a report on the stock in the last year is $114.44.

AKAM has been the subject of a number of recent analyst reports. Craig Hallum decreased their target price on shares of Akamai Technologies from $120.00 to $110.00 and set a “hold” rating for the company in a research report on Friday, May 10th. Robert W. Baird decreased their target price on shares of Akamai Technologies from $135.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Raymond James decreased their target price on shares of Akamai Technologies from $138.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Susquehanna decreased their target price on shares of Akamai Technologies from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Friday, May 10th. Finally, Citigroup decreased their target price on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th.

Akamai Technologies Stock Down 0.9 %

Akamai Technologies stock opened at $94.56 on Monday. The company has a 50-day simple moving average of $92.27 and a 200-day simple moving average of $102.86. The firm has a market capitalization of $14.40 billion, a P/E ratio of 23.52, 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 one year low of $87.59 and a one year high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.61 by $0.03. The business had revenue of $986.97 million during the quarter, compared to analyst estimates of $989.03 million. Akamai Technologies had a net margin of 16.12% and a return on equity of 15.02%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 earnings per share. As a group, equities analysts expect that Akamai Technologies will post 4.38 earnings per share for the current year.

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

Insider Buying and Selling at Akamai Technologies

In related news, CEO F Thomson Leighton purchased 22,000 shares of Akamai Technologies stock in a transaction dated Tuesday, May 14th. The stock was acquired at an average cost of $92.68 per share, with a total value of $2,038,960.00. Following the completion of the transaction, the chief executive officer now directly owns 2,342,621 shares of the company’s stock, valued at $217,114,114.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Anthony P. Williams sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.58, for a total value of $467,900.00. Following the completion of the sale, the executive vice president now directly owns 9,938 shares of the company’s stock, valued at $929,998.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO F Thomson Leighton purchased 22,000 shares of Akamai Technologies stock in a transaction dated Tuesday, May 14th. The stock was bought at an average cost of $92.68 per share, with a total value of $2,038,960.00. Following the completion of the transaction, the chief executive officer now directly owns 2,342,621 shares of the company’s stock, valued at $217,114,114.28. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 9,000 shares of company stock valued at $826,460. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Akamai Technologies

A number of hedge funds have recently made changes to their positions in AKAM. Raymond James Financial Services Advisors Inc. raised its position in Akamai Technologies by 0.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock valued at $4,120,000 after acquiring an additional 97 shares in the last quarter. Manchester Capital Management LLC raised its position in Akamai Technologies by 6.4% during the fourth quarter. Manchester Capital Management LLC now owns 1,622 shares of the technology infrastructure company’s stock valued at $192,000 after acquiring an additional 97 shares in the last quarter. ORG Partners LLC raised its position in Akamai Technologies by 16.7% during the fourth quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock valued at $83,000 after acquiring an additional 100 shares in the last quarter. Private Trust Co. NA raised its position in Akamai Technologies by 17.9% during the fourth quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock valued at $84,000 after acquiring an additional 108 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Akamai Technologies by 0.7% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,625 shares of the technology infrastructure company’s stock valued at $1,968,000 after acquiring an additional 108 shares in the last quarter. 94.28% of the stock is owned by hedge funds and other 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.