Craig Hallum Trims Akamai Technologies (NASDAQ:AKAM) Target Price to $110.00

Akamai Technologies (NASDAQ:AKAMGet Free Report) had its price target dropped by investment analysts at Craig Hallum from $120.00 to $110.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the technology infrastructure company’s stock. Craig Hallum’s target price suggests a potential upside of 20.63% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird cut their price objective on Akamai Technologies from $135.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday. HSBC lowered Akamai Technologies from a “hold” rating to a “reduce” rating and cut their price target for the stock from $109.00 to $96.00 in a report on Thursday, February 15th. Raymond James lowered their price objective on shares of Akamai Technologies from $138.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday. Citigroup cut their target price on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Finally, KeyCorp decreased their price target on shares of Akamai Technologies from $138.00 to $119.00 and set an “overweight” rating on the stock in a research report on Friday. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

View Our Latest Stock Report on Akamai Technologies

Akamai Technologies Price Performance

Shares of Akamai Technologies stock opened at $91.19 on Friday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77. The firm has a fifty day simple moving average of $105.30 and a 200-day simple moving average of $111.86. The stock has a market capitalization of $13.82 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 2.89 and a beta of 0.72. Akamai Technologies has a 1-year low of $84.19 and a 1-year high of $129.17.

Akamai Technologies (NASDAQ:AKAMGet Free Report) last announced its earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.61 by $0.03. Akamai Technologies had a net margin of 16.12% and a return on equity of 15.22%. The firm had revenue of $986.97 million for the quarter, compared to the consensus estimate of $989.03 million. During the same quarter last year, the firm posted $1.01 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts expect that Akamai Technologies will post 4.84 earnings per share for the current year.

Insider Activity

In related news, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the transaction, the chief operating officer now owns 6,697 shares in the company, valued at approximately $735,196.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $109.78, for a total value of $1,575,233.22. Following the sale, the chief operating officer now directly owns 6,697 shares in the company, valued at $735,196.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anthony P. Williams sold 3,510 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total value of $395,050.50. Following the transaction, the executive vice president now owns 4,299 shares of the company’s stock, valued at $483,852.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,753 shares of company stock worth $3,368,303. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd increased its holdings in shares of Akamai Technologies by 224.6% during the first quarter. Covestor Ltd now owns 448 shares of the technology infrastructure company’s stock worth $48,000 after buying an additional 310 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Akamai Technologies by 5,019.5% in the 1st quarter. Acadian Asset Management LLC now owns 59,796 shares of the technology infrastructure company’s stock worth $6,497,000 after acquiring an additional 58,628 shares in the last quarter. Vanguard Group Inc. grew its position in 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 worth $1,932,009,000 after acquiring an additional 124,359 shares during the last quarter. Intech Investment Management LLC increased its holdings in Akamai Technologies by 409.2% during the 1st quarter. Intech Investment Management LLC now owns 248,045 shares of the technology infrastructure company’s stock valued at $26,977,000 after purchasing an additional 199,334 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in Akamai Technologies by 1.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,745 shares of the technology infrastructure company’s stock valued at $27,324,000 after purchasing an additional 2,422 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

About Akamai Technologies

(Get Free Report)

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.

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Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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