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

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have been given a consensus rating of “Moderate Buy” by the twenty-two brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $107.55.

A number of equities analysts have issued reports on the company. UBS Group assumed coverage on Akamai Technologies in a report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, February 21st. Citigroup decreased their price objective on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Evercore ISI reissued an “outperform” rating and issued a $110.00 target price on shares of Akamai Technologies in a research note on Tuesday, December 17th. Finally, Craig Hallum cut Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a research note on Friday, February 21st.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the sale, the executive vice president now directly owns 23,104 shares in the company, valued at $2,115,633.28. The trade was a 14.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mani Sundaram sold 10,683 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $86.52, for a total value of $924,293.16. Following the sale, the executive vice president now owns 23,988 shares of the company’s stock, valued at approximately $2,075,441.76. This represents a 30.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,394 shares of company stock worth $3,019,323 in the last three months. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Akamai Technologies

A number of large investors have recently made changes to their positions in AKAM. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Akamai Technologies during the 4th quarter valued at about $3,445,000. Siemens Fonds Invest GmbH purchased a new position in shares of Akamai Technologies during the 4th quarter valued at about $2,455,000. Capital A Wealth Management LLC purchased a new position in shares of Akamai Technologies during the 4th quarter valued at about $367,000. Mackenzie Financial Corp lifted its position in shares of Akamai Technologies by 3.5% during the 4th quarter. Mackenzie Financial Corp now owns 2,427,580 shares of the technology infrastructure company’s stock valued at $232,198,000 after buying an additional 81,744 shares in the last quarter. Finally, Forum Financial Management LP purchased a new position in shares of Akamai Technologies during the 4th quarter valued at about $252,000. 94.28% of the stock is currently owned by institutional investors.

Akamai Technologies Price Performance

Shares of Akamai Technologies stock opened at $82.79 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. The company has a market cap of $12.44 billion, a PE ratio of 25.40, a P/E/G ratio of 2.74 and a beta of 0.68. The business has a 50 day moving average of $91.41 and a 200 day moving average of $95.75. Akamai Technologies has a 52 week low of $75.50 and a 52 week high of $110.18.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. As a group, equities research analysts forecast that Akamai Technologies will post 4.6 earnings per share for the current 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.