Bank of America Issues Pessimistic Forecast for Akamai Technologies (NASDAQ:AKAM) Stock Price

Akamai Technologies (NASDAQ:AKAM) had its price objective dropped by equities researchers at Bank of America from $100.00 to $80.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm presently has a “neutral” rating on the technology infrastructure company’s stock. Bank of America‘s price target points to a potential upside of 5.08% from the company’s current price.

Several other equities research analysts also recently commented on AKAM. Morgan Stanley downgraded Akamai Technologies from an “equal weight” rating to an “underweight” rating and set a $85.00 target price on the stock. in a report on Tuesday, August 5th. Piper Sandler dropped their target price on Akamai Technologies from $88.00 to $83.00 and set a “neutral” rating on the stock in a report on Friday, August 8th. Wall Street Zen upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. The Goldman Sachs Group initiated coverage on Akamai Technologies in a report on Wednesday, August 13th. They set a “sell” rating and a $67.00 target price on the stock. Finally, Scotiabank dropped their price objective on Akamai Technologies from $105.00 to $95.00 and set a “sector outperform” rating on the stock in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $92.53.

Akamai Technologies Stock Up 2.5%

Shares of NASDAQ:AKAM opened at $76.13 on Monday. The stock’s 50-day moving average price is $76.35 and its two-hundred day moving average price is $77.05. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.92. Akamai Technologies has a 12-month low of $67.51 and a 12-month high of $105.98. The firm has a market cap of $10.92 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 3.55 and a beta of 0.75.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, August 7th. The technology infrastructure company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.18. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.The company’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.58 EPS. Akamai Technologies has set its FY 2025 guidance at 6.600-6.800 EPS. Q3 2025 guidance at 1.620-1.660 EPS. On average, research analysts forecast that Akamai Technologies will post 4.6 EPS for the current year.

Insiders Place Their Bets

In other Akamai Technologies news, EVP Aaron Ahola sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $75.76, for a total transaction of $303,040.00. Following the completion of the transaction, the executive vice president owned 21,211 shares in the company, valued at approximately $1,606,945.36. The trade was a 15.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Paul C. Joseph sold 5,000 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $76.65, for a total value of $383,250.00. Following the completion of the sale, the executive vice president directly owned 27,349 shares in the company, valued at $2,096,300.85. This represents a 15.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,000 shares of company stock worth $917,290. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AKAM. DLD Asset Management LP boosted its stake in shares of Akamai Technologies by 60.0% during the 2nd quarter. DLD Asset Management LP now owns 20,000,000 shares of the technology infrastructure company’s stock worth $1,595,200,000 after acquiring an additional 7,500,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Akamai Technologies by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 18,673,358 shares of the technology infrastructure company’s stock worth $1,503,205,000 after buying an additional 425,461 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Akamai Technologies by 4.9% in the 2nd quarter. First Trust Advisors LP now owns 6,061,962 shares of the technology infrastructure company’s stock worth $483,502,000 after buying an additional 281,526 shares in the last quarter. Norges Bank acquired a new position in shares of Akamai Technologies in the 2nd quarter worth approximately $266,817,000. Finally, Legal & General Group Plc raised its holdings in shares of Akamai Technologies by 3.5% in the 2nd quarter. Legal & General Group Plc now owns 2,812,805 shares of the technology infrastructure company’s stock worth $224,349,000 after buying an additional 94,012 shares in the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

About Akamai Technologies

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.