Akamai Technologies (NASDAQ:AKAM) Price Target Raised to $134.00 at KeyCorp

Akamai Technologies (NASDAQ:AKAMFree Report) had its price objective hoisted by KeyCorp from $120.00 to $134.00 in a report issued on Wednesday, Benzinga reports. KeyCorp currently has an overweight rating on the technology infrastructure company’s stock.

A number of other analysts have also recently commented on the stock. Robert W. Baird upped their price target on shares of Akamai Technologies from $94.00 to $108.00 in a research report on Thursday, August 10th. TheStreet upgraded shares of Akamai Technologies from a c rating to a b- rating in a report on Thursday, August 10th. Citigroup upped their target price on shares of Akamai Technologies from $105.00 to $112.00 and gave the stock a neutral rating in a report on Thursday, October 12th. TD Cowen increased their price objective on shares of Akamai Technologies from $107.00 to $112.00 and gave the company an outperform rating in a research note on Wednesday, August 16th. Finally, StockNews.com assumed coverage on shares of Akamai Technologies in a research note on Thursday, October 5th. They issued a buy rating for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Akamai Technologies currently has a consensus rating of Moderate Buy and an average target price of $111.16.

Read Our Latest Report on Akamai Technologies

Akamai Technologies Trading Up 1.6 %

Shares of NASDAQ:AKAM opened at $110.56 on Wednesday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.53. Akamai Technologies has a 12-month low of $70.65 and a 12-month high of $111.80. The business has a 50 day moving average of $105.86 and a 200-day moving average of $96.51. The stock has a market cap of $16.77 billion, a PE ratio of 37.35, a P/E/G ratio of 2.52 and a beta of 0.77.

Akamai Technologies (NASDAQ:AKAMGet Free Report) last posted its earnings results on Tuesday, August 8th. The technology infrastructure company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.10). Akamai Technologies had a return on equity of 14.41% and a net margin of 12.64%. The company had revenue of $935.72 million for the quarter, compared to the consensus estimate of $931.52 million. As a group, equities research analysts forecast that Akamai Technologies will post 4.42 earnings per share for the current year.

Insiders Place Their Bets

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 2,456 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $103.92, for a total value of $255,227.52. Following the sale, the chief financial officer now directly owns 15,712 shares in the company, valued at approximately $1,632,791.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Anthony P. Williams sold 2,880 shares of Akamai Technologies stock in a transaction on Friday, August 25th. The shares were sold at an average price of $103.01, for a total value of $296,668.80. Following the transaction, the executive vice president now owns 7,582 shares in the company, valued at approximately $781,021.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Edward J. Mcgowan sold 2,456 shares of Akamai Technologies stock in a transaction on Monday, September 18th. The stock was sold at an average price of $103.92, for a total transaction of $255,227.52. Following the completion of the transaction, the chief financial officer now owns 15,712 shares in the company, valued at approximately $1,632,791.04. The disclosure for this sale can be found here. Insiders have sold 17,976 shares of company stock worth $1,885,664 in the last three months. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Akamai Technologies

A number of large investors have recently modified their holdings of AKAM. Vanguard Group Inc. boosted its stake in Akamai Technologies by 1.4% during the first quarter. Vanguard Group Inc. now owns 17,880,191 shares of the technology infrastructure company’s stock worth $2,134,716,000 after acquiring an additional 254,437 shares in the last quarter. First Trust Advisors LP raised its holdings in Akamai Technologies by 21.8% in the first quarter. First Trust Advisors LP now owns 4,194,752 shares of the technology infrastructure company’s stock worth $328,449,000 after buying an additional 749,933 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Akamai Technologies by 0.9% during the second quarter. Geode Capital Management LLC now owns 3,582,467 shares of the technology infrastructure company’s stock valued at $321,324,000 after purchasing an additional 32,547 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Akamai Technologies by 5.7% during the fourth quarter. Legal & General Group Plc now owns 2,723,940 shares of the technology infrastructure company’s stock valued at $229,628,000 after purchasing an additional 147,339 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its holdings in shares of Akamai Technologies by 6.5% during the first quarter. Champlain Investment Partners LLC now owns 2,472,498 shares of the technology infrastructure company’s stock valued at $193,597,000 after purchasing an additional 151,100 shares during the last quarter. Institutional investors own 91.40% of the company’s stock.

Akamai Technologies Company Profile

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Akamai Technologies, Inc provides cloud services for securing, delivering, and computing content, applications, and software 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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