Oppenheimer Raises Akamai Technologies (NASDAQ:AKAM) Price Target to $115.00

Akamai Technologies (NASDAQ:AKAM) had its target price raised by equities researchers at Oppenheimer from $100.00 to $115.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm presently has an “outperform” rating on the technology infrastructure company’s stock. Oppenheimer’s price objective indicates a potential upside of 20.90% from the company’s previous close.

AKAM has been the topic of a number of other research reports. Morgan Stanley raised Akamai Technologies from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $83.00 to $115.00 in a research report on Monday, January 12th. Royal Bank Of Canada boosted their target price on Akamai Technologies from $80.00 to $90.00 and gave the stock a “sector perform” rating in a research note on Monday, January 5th. Bank of America reduced their price target on Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, October 20th. Piper Sandler boosted their price objective on Akamai Technologies from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Monday, January 5th. Finally, HSBC raised their target price on shares of Akamai Technologies from $130.00 to $134.00 in a report on Monday, November 10th. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Akamai Technologies currently has a consensus rating of “Hold” and an average target price of $96.94.

Akamai Technologies Stock Up 4.0%

Shares of AKAM opened at $95.12 on Thursday. The company’s 50-day simple moving average is $90.22 and its 200-day simple moving average is $82.32. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.28 and a current ratio of 2.28. Akamai Technologies has a 1 year low of $67.51 and a 1 year high of $104.97. The stock has a market capitalization of $13.68 billion, a PE ratio of 27.89, a P/E/G ratio of 3.30 and a beta of 0.70.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.22. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. Akamai Technologies had a net margin of 12.26% and a return on equity of 14.16%. During the same period in the prior year, the firm earned $1.59 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Analysts forecast that Akamai Technologies will post 4.6 earnings per share for the current fiscal year.

Insider Transactions at Akamai Technologies

In related news, CTO Robert Blumofe sold 3,500 shares of Akamai Technologies stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $97.00, for a total transaction of $339,500.00. Following the sale, the chief technology officer directly owned 18,074 shares in the company, valued at $1,753,178. This trade represents a 16.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Edward J. Mcgowan sold 6,560 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $88.03, for a total transaction of $577,476.80. Following the completion of the sale, the chief financial officer directly owned 16,442 shares of the company’s stock, valued at approximately $1,447,389.26. This trade represents a 28.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 28,818 shares of company stock worth $2,589,254. Insiders own 2.00% of the company’s stock.

Institutional Trading of Akamai Technologies

Large investors have recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in Akamai Technologies by 101.4% in the fourth quarter. Brighton Jones LLC now owns 4,016 shares of the technology infrastructure company’s stock valued at $384,000 after buying an additional 2,022 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Akamai Technologies by 35.2% in the 1st quarter. Jones Financial Companies Lllp now owns 1,087 shares of the technology infrastructure company’s stock valued at $88,000 after acquiring an additional 283 shares during the period. United Services Automobile Association acquired a new position in shares of Akamai Technologies in the 1st quarter valued at $266,000. Empowered Funds LLC raised its position in Akamai Technologies by 73.0% in the 1st quarter. Empowered Funds LLC now owns 7,134 shares of the technology infrastructure company’s stock valued at $574,000 after purchasing an additional 3,010 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Akamai Technologies by 8.2% during the 2nd quarter. Janney Montgomery Scott LLC now owns 17,899 shares of the technology infrastructure company’s stock worth $1,428,000 after purchasing an additional 1,351 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Company Profile

Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.

The company’s core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.