Akamai Technologies (NASDAQ:AKAM) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Akamai Technologies (NASDAQ:AKAMGet Rating) from a hold rating to a buy rating in a research report released on Monday morning.

Several other analysts also recently weighed in on the stock. Citigroup cut their price objective on shares of Akamai Technologies from $105.00 to $98.00 in a research report on Wednesday, August 10th. Evercore ISI cut their price objective on shares of Akamai Technologies to $110.00 in a research report on Monday, August 15th. KeyCorp dropped their price target on shares of Akamai Technologies from $123.00 to $116.00 and set an overweight rating on the stock in a research report on Wednesday, August 10th. Truist Financial lowered their price objective on shares of Akamai Technologies from $135.00 to $125.00 and set a buy rating on the stock in a research note on Wednesday, August 10th. Finally, Robert W. Baird dropped their target price on shares of Akamai Technologies from $102.00 to $95.00 and set a neutral rating on the stock in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $118.21.

Akamai Technologies Price Performance

Akamai Technologies stock opened at $88.56 on Monday. The firm has a fifty day moving average of $92.47 and a 200-day moving average of $100.94. The firm has a market capitalization of $14.08 billion, a P/E ratio of 25.16, a PEG ratio of 1.73 and a beta of 0.66. Akamai Technologies has a 52-week low of $85.90 and a 52-week high of $123.25. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.53.

Akamai Technologies (NASDAQ:AKAMGet Rating) last announced its quarterly earnings data on Tuesday, August 9th. The technology infrastructure company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.04. The company had revenue of $903.33 million during the quarter, compared to analyst estimates of $898.75 million. Akamai Technologies had a net margin of 16.18% and a return on equity of 16.97%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the business earned $1.18 EPS. As a group, analysts predict that Akamai Technologies will post 4.19 EPS for the current year.

Insider Buying and Selling

In related news, CTO Robert Blumofe sold 5,000 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $94.25, for a total transaction of $471,250.00. Following the transaction, the chief technology officer now owns 14,835 shares in the company, valued at approximately $1,398,198.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. acquired a new position in Akamai Technologies during the 4th quarter valued at about $25,000. Ancora Advisors LLC lifted its position in Akamai Technologies by 103.3% during the 1st quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 127 shares during the period. CX Institutional acquired a new position in Akamai Technologies during the 2nd quarter valued at about $28,000. Karlinski Andrew C bought a new stake in shares of Akamai Technologies in the 1st quarter valued at about $30,000. Finally, Larson Financial Group LLC bought a new stake in shares of Akamai Technologies in the 2nd quarter valued at about $41,000. Institutional investors and hedge funds own 92.23% of the company’s stock.

About Akamai Technologies

(Get Rating)

Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.

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Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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