Akamai Technologies, Inc. (NASDAQ:AKAM) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Akamai Technologies, Inc. (NASDAQ:AKAMGet Free Report) have earned an average rating of “Moderate Buy” from the eighteen analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $114.00.

Several research analysts have issued reports on the company. Raymond James dropped their target price on Akamai Technologies from $138.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Morgan Stanley dropped their target price on Akamai Technologies from $117.00 to $106.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research report on Friday, May 17th. Susquehanna dropped their target price on Akamai Technologies from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Friday, May 10th. Finally, JPMorgan Chase & Co. lifted their price objective on Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research report on Wednesday, February 14th.

Check Out Our Latest Analysis on AKAM

Akamai Technologies Price Performance

AKAM opened at $89.18 on Friday. The stock has a fifty day simple moving average of $98.77 and a two-hundred day simple moving average of $109.77. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76. The company has a market cap of $13.58 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 4.22 and a beta of 0.68. Akamai Technologies has a 12-month low of $86.94 and a 12-month high of $129.17.

Akamai Technologies (NASDAQ:AKAMGet Free Report) last issued its quarterly earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.03. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. The firm had revenue of $986.97 million during the quarter, compared to the consensus estimate of $989.03 million. During the same period last year, the company earned $1.01 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. Research analysts predict that Akamai Technologies will post 4.47 earnings per share for the current fiscal year.

Akamai Technologies declared that its board has initiated a share buyback plan on Thursday, May 9th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the technology infrastructure company to buy up to 13.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Anthony P. Williams sold 4,500 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total value of $489,285.00. Following the completion of the sale, the executive vice president now directly owns 14,938 shares in the company, valued at approximately $1,624,208.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $93.54, for a total transaction of $93,540.00. Following the completion of the sale, the director now directly owns 14,519 shares in the company, valued at approximately $1,358,107.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Anthony P. Williams sold 4,500 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total value of $489,285.00. Following the sale, the executive vice president now owns 14,938 shares of the company’s stock, valued at $1,624,208.74. The disclosure for this sale can be found here. Insiders sold a total of 33,243 shares of company stock worth $3,534,693 in the last quarter. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. EntryPoint Capital LLC acquired a new position in shares of Akamai Technologies in the first quarter valued at about $31,000. Planned Solutions Inc. purchased a new position in Akamai Technologies during the fourth quarter worth approximately $37,000. Headinvest LLC purchased a new position in Akamai Technologies during the third quarter worth approximately $40,000. Turtle Creek Wealth Advisors LLC purchased a new position in Akamai Technologies during the fourth quarter worth approximately $43,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Akamai Technologies during the fourth quarter worth approximately $44,000. 94.28% of the stock is 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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