Akamai Technologies’ (AKAM) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Akamai Technologies (NASDAQ:AKAM) in a report published on Friday morning,Benzinga reports.

Several other brokerages also recently issued reports on AKAM. Citigroup reduced their price objective on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Piper Sandler lowered shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $112.00 to $100.00 in a report on Friday. TD Cowen cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and decreased their price target for the stock from $125.00 to $98.00 in a research note on Friday. UBS Group began coverage on shares of Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company. Finally, Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.90.

Akamai Technologies Price Performance

Akamai Technologies stock opened at $76.73 on Friday. The firm has a market capitalization of $11.53 billion, a PE ratio of 22.70, a P/E/G ratio of 3.58 and a beta of 0.65. Akamai Technologies has a 52 week low of $76.50 and a 52 week high of $113.36. The firm’s 50-day simple moving average is $96.15 and its 200 day simple moving average is $97.86. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a net margin of 13.27% and a return on equity of 14.63%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. On average, equities research analysts predict that Akamai Technologies will post 4.28 EPS for the current fiscal year.

Insider Activity

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the sale, the director now owns 15,719 shares of the company’s stock, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the transaction, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. This trade represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,782 shares of company stock valued at $1,523,951 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AKAM. Allspring Global Investments Holdings LLC lifted its stake in Akamai Technologies by 14.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 102,175 shares of the technology infrastructure company’s stock worth $10,315,000 after purchasing an additional 12,913 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Akamai Technologies by 10.1% during the third quarter. Signaturefd LLC now owns 1,402 shares of the technology infrastructure company’s stock worth $142,000 after purchasing an additional 129 shares during the period. Eastern Bank bought a new position in shares of Akamai Technologies in the 3rd quarter worth about $71,000. Private Advisor Group LLC boosted its holdings in shares of Akamai Technologies by 8.0% in the 3rd quarter. Private Advisor Group LLC now owns 6,477 shares of the technology infrastructure company’s stock valued at $654,000 after buying an additional 477 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Akamai Technologies during the 3rd quarter valued at about $30,470,000. Institutional investors and hedge funds 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.