Brokerages Set Akamai Technologies, Inc. (NASDAQ:AKAM) Target Price at $116.47

Akamai Technologies, Inc. (NASDAQ:AKAM) has earned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $116.29.

A number of brokerages have recently issued reports on AKAM. Craig Hallum upgraded Akamai Technologies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. Scotiabank lowered their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research report on Friday. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 target price on shares of Akamai Technologies in a report on Thursday, August 15th. Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective for the company in a research report on Monday, July 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th.

Insider Activity

In related news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the transaction, the executive vice president now directly owns 30,703 shares in the company, valued at approximately $2,987,401.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Akamai Technologies news, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $100.69, for a total transaction of $251,725.00. Following the sale, the chief technology officer now owns 22,010 shares in the company, valued at $2,216,186.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the transaction, the executive vice president now owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock worth $741,655 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Akamai Technologies

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Akamai Technologies by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 17,763,963 shares of the technology infrastructure company’s stock valued at $1,932,009,000 after purchasing an additional 124,359 shares during the last quarter. Earnest Partners LLC boosted its stake in shares of Akamai Technologies by 1.3% in the 2nd quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock valued at $191,966,000 after purchasing an additional 28,135 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Akamai Technologies by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after purchasing an additional 347,626 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its position in Akamai Technologies by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,411,028 shares of the technology infrastructure company’s stock valued at $127,105,000 after buying an additional 14,347 shares during the period. Finally, Champlain Investment Partners LLC increased its holdings in shares of Akamai Technologies by 19.6% in the first quarter. Champlain Investment Partners LLC now owns 1,354,428 shares of the technology infrastructure company’s stock worth $147,308,000 after buying an additional 222,290 shares during the period. Hedge funds and other institutional investors own 94.28% of the company’s stock.

Akamai Technologies Trading Down 14.4 %

AKAM opened at $89.37 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $13.54 billion, a P/E ratio of 22.12, a P/E/G ratio of 3.21 and a beta of 0.68. The firm’s fifty day simple moving average is $100.87 and its 200 day simple moving average is $97.23. Akamai Technologies has a 12 month low of $87.59 and a 12 month high of $129.17.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.05. The firm had revenue of $979.60 million for the quarter, compared to analyst estimates of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 EPS. As a group, research analysts anticipate that Akamai Technologies will post 4.42 EPS for the current fiscal year.

About Akamai Technologies

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.