Akamai Technologies (NASDAQ:AKAM) Now Covered by Oppenheimer

Oppenheimer assumed coverage on shares of Akamai Technologies (NASDAQ:AKAM) in a research report report published on Monday morning, Marketbeat reports. The brokerage issued an outperform rating and a $100.00 price objective on the technology infrastructure company’s stock.

AKAM has been the topic of a number of other research reports. DA Davidson reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Akamai Technologies in a report on Thursday, October 16th. Piper Sandler lifted their price target on Akamai Technologies from $83.00 to $86.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Citigroup upped their price objective on Akamai Technologies from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Scotiabank cut their price target on shares of Akamai Technologies from $95.00 to $94.00 and set a “hold” rating for the company in a report on Friday, November 7th. Finally, HSBC increased their target price on shares of Akamai Technologies from $130.00 to $134.00 in a report on Monday, November 10th. Six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $93.63.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $87.62 on Monday. The stock has a fifty day moving average price of $77.19 and a 200 day moving average price of $77.61. Akamai Technologies has a 1-year low of $67.51 and a 1-year high of $103.75. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.31 and a quick ratio of 2.31. The company has a market cap of $12.61 billion, a PE ratio of 31.07, a P/E/G ratio of 3.49 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, November 6th. The technology infrastructure company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.22. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. Akamai Technologies’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.59 EPS. Akamai Technologies has set its FY 2025 guidance at 6.930-7.130 EPS. Q4 2025 guidance at 1.650-1.850 EPS. Sell-side analysts forecast that Akamai Technologies will post 4.6 EPS for the current year.

Insider Activity

In other news, CTO Robert Blumofe sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $86.00, for a total value of $301,000.00. Following the completion of the transaction, the chief technology officer owned 24,410 shares of the company’s stock, valued at $2,099,260. The trade was a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Aaron Ahola sold 4,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president owned 21,211 shares in the company, valued at approximately $1,606,945.36. This trade represents a 15.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,500 shares of company stock valued at $1,218,290 over the last 90 days. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

Several large investors have recently added to or reduced their stakes in the business. DLD Asset Management LP grew its holdings in Akamai Technologies by 60.0% in the 2nd quarter. DLD Asset Management LP now owns 20,000,000 shares of the technology infrastructure company’s stock valued at $1,595,200,000 after buying an additional 7,500,000 shares during the period. Norges Bank purchased a new stake in Akamai Technologies in the second quarter valued at approximately $266,817,000. AQR Capital Management LLC increased its position in Akamai Technologies by 522.8% during the third quarter. AQR Capital Management LLC now owns 2,020,346 shares of the technology infrastructure company’s stock worth $153,061,000 after purchasing an additional 1,695,937 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in Akamai Technologies by 1,001.4% during the first quarter. Alyeska Investment Group L.P. now owns 1,753,400 shares of the technology infrastructure company’s stock worth $141,149,000 after purchasing an additional 1,594,206 shares during the period. Finally, Nordea Investment Management AB raised its stake in Akamai Technologies by 39.9% during the third quarter. Nordea Investment Management AB now owns 3,437,472 shares of the technology infrastructure company’s stock worth $258,739,000 after purchasing an additional 980,966 shares during the period. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

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.