Akamai Technologies, Inc. (NASDAQ:AKAM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Akamai Technologies, Inc. (NASDAQ:AKAM) has earned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $119.50.

Several research firms have issued reports on AKAM. StockNews.com raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. KeyCorp increased their price target on Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. Susquehanna began coverage on Akamai Technologies in a research note on Friday, December 15th. They issued a “positive” rating and a $150.00 price target on the stock. Piper Sandler increased their price target on Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Finally, Robert W. Baird upgraded Akamai Technologies from a “neutral” rating to an “outperform” rating and increased their price target for the company from $128.00 to $135.00 in a research note on Thursday, March 7th.

Insider Transactions at Akamai Technologies

In related news, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $109.78, for a total value of $1,575,233.22. Following the sale, the chief operating officer now directly owns 6,697 shares of the company’s stock, valued at $735,196.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Akamai Technologies news, EVP Anthony P. Williams sold 3,510 shares of the 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 transaction, the executive vice president now directly owns 4,299 shares in the company, valued at $483,852.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adam Karon sold 14,349 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the completion of the transaction, the chief operating officer now owns 6,697 shares of the company’s stock, valued at $735,196.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,353 shares of company stock valued at $4,159,203. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Akamai Technologies

Several large investors have recently bought and sold shares of the company. Ancora Advisors LLC raised its position in shares of Akamai Technologies by 103.3% during the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 127 shares during the last quarter. Planned Solutions Inc. acquired a new stake in Akamai Technologies during the fourth quarter worth approximately $37,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Akamai Technologies during the fourth quarter worth approximately $43,000. Bruce G. Allen Investments LLC acquired a new stake in Akamai Technologies in the fourth quarter valued at approximately $44,000. Finally, Headinvest LLC acquired a new stake in Akamai Technologies in the third quarter valued at approximately $40,000. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $109.33 on Tuesday. The company’s fifty day simple moving average is $114.28 and its 200-day simple moving average is $112.75. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The firm has a market cap of $16.57 billion, a PE ratio of 30.97, a P/E/G ratio of 3.07 and a beta of 0.72. Akamai Technologies has a 12 month low of $76.85 and a 12 month high of $129.17.

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

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.