Piper Sandler Lowers Akamai Technologies (NASDAQ:AKAM) Price Target to $114.00

Akamai Technologies (NASDAQ:AKAM) had its price target reduced by equities researchers at Piper Sandler from $136.00 to $114.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the technology infrastructure company’s stock. Piper Sandler’s target price indicates a potential upside of 22.70% from the stock’s current price.

A number of other analysts also recently issued reports on AKAM. Bank of America lowered their target price on Akamai Technologies from $145.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. boosted their price target on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $115.00 price target on shares of Akamai Technologies in a research report on Wednesday, February 14th. KeyCorp boosted their price target on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. Finally, Susquehanna lowered their price target on Akamai Technologies from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $114.87.

Akamai Technologies Trading Down 9.3 %

Shares of NASDAQ AKAM traded down $9.55 during midday trading on Friday, hitting $92.91. The stock had a trading volume of 5,580,787 shares, compared to its average volume of 1,653,030. The company’s 50-day simple moving average is $105.68 and its 200 day simple moving average is $111.90. The firm has a market cap of $14.08 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 2.81 and a beta of 0.72. Akamai Technologies has a fifty-two week low of $84.19 and a fifty-two week high of $129.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Thursday, May 9th. The technology infrastructure company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.03). The business had revenue of $986.97 million for the quarter, compared to the consensus estimate of $989.03 million. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. Research analysts anticipate that Akamai Technologies will post 4.84 EPS for the current year.

Insiders Place Their Bets

In related news, COO Adam Karon sold 8,394 shares of Akamai Technologies stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the transaction, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at approximately $2,278,439.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Anthony P. Williams sold 4,500 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $108.73, for a total value of $489,285.00. Following the completion of the sale, the executive vice president now owns 14,938 shares in the company, valued at approximately $1,624,208.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Adam Karon sold 8,394 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the sale, the chief operating officer now owns 21,046 shares of the company’s stock, valued at approximately $2,278,439.96. The disclosure for this sale can be found here. Insiders sold 30,753 shares of company stock valued at $3,368,303 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Akamai Technologies

Large investors have recently modified their holdings of the business. Planned Solutions Inc. bought a new stake in shares of Akamai Technologies in the 4th quarter valued at about $37,000. Headinvest LLC bought a new position in shares of Akamai Technologies during the 3rd quarter worth approximately $40,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Akamai Technologies during the 4th quarter worth approximately $43,000. Bruce G. Allen Investments LLC bought a new position in shares of Akamai Technologies during the 4th quarter worth approximately $44,000. Finally, Lindbrook Capital LLC raised its stake in shares of Akamai Technologies by 43.7% during the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

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.