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

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have been assigned an average rating of “Moderate Buy” from the sixteen analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $121.27.

A number of research analysts have recently weighed in on the stock. KeyCorp raised their price target on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, January 19th. Robert W. Baird upgraded shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and raised their target price for the company from $128.00 to $135.00 in a research note on Thursday, March 7th. JPMorgan Chase & Co. raised their target price on shares of Akamai Technologies from $78.00 to $81.00 and gave the company an “underweight” rating in a research note on Wednesday, February 14th. Piper Sandler raised their target price on shares of Akamai Technologies from $130.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Finally, StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th.

Akamai Technologies Stock Up 0.8 %

AKAM stock opened at $101.50 on Friday. Akamai Technologies has a 12-month low of $76.85 and a 12-month high of $129.17. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The company has a market cap of $15.38 billion, a price-to-earnings ratio of 28.75, a PEG ratio of 2.83 and a beta of 0.72. The company has a 50 day moving average of $108.58 and a two-hundred day moving average of $112.41.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. The business had revenue of $995.00 million for the quarter, compared to the consensus estimate of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. Akamai Technologies’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 EPS. On average, equities analysts anticipate that Akamai Technologies will post 4.84 earnings per share for the current fiscal year.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the transaction, the chief marketing officer now directly owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the transaction, the chief marketing officer now directly owns 27,663 shares of the company’s stock, valued at $3,410,847.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Anthony P. Williams sold 3,510 shares of Akamai Technologies stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total transaction of $395,050.50. Following the sale, the executive vice president now owns 4,299 shares of the company’s stock, valued at approximately $483,852.45. The disclosure for this sale can be found here. Insiders sold 33,353 shares of company stock valued at $3,688,883 in the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Akamai Technologies

Institutional investors have recently modified their holdings of the business. Ancora Advisors LLC grew its holdings in Akamai Technologies by 103.3% during the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 127 shares during the period. Planned Solutions Inc. acquired a new position in shares of Akamai Technologies in the fourth quarter valued at approximately $37,000. Headinvest LLC acquired a new position in shares of Akamai Technologies in the third quarter valued at approximately $40,000. Belpointe Asset Management LLC boosted its holdings in shares of Akamai Technologies by 50.1% in the first quarter. Belpointe Asset Management LLC now owns 509 shares of the technology infrastructure company’s stock valued at $40,000 after buying an additional 170 shares during the period. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Akamai Technologies in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 94.28% of the company’s stock.

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.