Morgan Stanley Has Lowered Expectations for Akamai Technologies (NASDAQ:AKAM) Stock Price

Akamai Technologies (NASDAQ:AKAM) had its price target reduced by stock analysts at Morgan Stanley from $102.00 to $90.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the technology infrastructure company’s stock. Morgan Stanley’s price objective indicates a potential upside of 22.52% from the stock’s current price.

AKAM has been the topic of several other reports. Piper Sandler dropped their target price on Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Bank of America lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and cut their target price for the company from $125.00 to $100.00 in a research report on Friday, February 21st. Raymond James decreased their price target on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, February 21st. Susquehanna dropped their price target on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. reduced their price objective on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $104.75.

Akamai Technologies Stock Down 0.5 %

AKAM opened at $73.46 on Wednesday. The stock has a market capitalization of $10.73 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 2.74 and a beta of 0.80. The firm has a 50 day moving average price of $82.12 and a 200-day moving average price of $92.06. Akamai Technologies has a twelve month low of $67.51 and a twelve month high of $106.80. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. Equities research analysts forecast that Akamai Technologies will post 4.6 earnings per share for the current year.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Mani Sundaram sold 10,683 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $86.52, for a total transaction of $924,293.16. Following the completion of the transaction, the executive vice president now owns 23,988 shares in the company, valued at $2,075,441.76. This trade represents a 30.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO F Thomson Leighton acquired 37,670 shares of Akamai Technologies stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares in the company, valued at approximately $10,929,676.36. The trade was a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 31,394 shares of company stock valued at $2,653,043. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

Institutional investors have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB raised its position in shares of Akamai Technologies by 54.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company’s stock valued at $35,000 after buying an additional 155 shares in the last quarter. Itau Unibanco Holding S.A. increased its stake in Akamai Technologies by 99.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock worth $45,000 after acquiring an additional 234 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Akamai Technologies during the fourth quarter valued at approximately $49,000. Bruce G. Allen Investments LLC lifted its stake in shares of Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after purchasing an additional 155 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in shares of Akamai Technologies in the 4th quarter worth approximately $57,000. Institutional investors own 94.28% of the company’s stock.

Akamai Technologies Company Profile

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.