Brokerages Set Akamai Technologies, Inc. (NASDAQ:AKAM) Target Price at $121.27

Akamai Technologies, Inc. (NASDAQ:AKAM) has been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $121.60.

AKAM has been the topic of a number of recent research reports. 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. HSBC downgraded shares of Akamai Technologies from a “hold” rating to a “reduce” rating and cut their price target for the company from $109.00 to $96.00 in a report on Thursday, February 15th. Royal Bank of Canada restated a “sector perform” rating and set a $115.00 price target on shares of Akamai Technologies in a report on Wednesday, February 14th. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Robert W. Baird upgraded shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and raised their price target for the company from $128.00 to $135.00 in a report on Thursday, March 7th.

Akamai Technologies Stock Down 0.1 %

AKAM stock opened at $101.68 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 $15.41 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 2.89 and a beta of 0.72. The company has a 50 day moving average of $106.97 and a two-hundred day moving average of $112.27.

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

Insiders Place Their Bets

In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the sale, the chief marketing officer now directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the sale, the chief marketing officer now directly owns 27,663 shares in the company, valued at approximately $3,410,847.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Anthony P. Williams sold 3,510 shares of Akamai Technologies stock in a transaction dated Thursday, February 15th. The shares were 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 in the company, valued at $483,852.45. The disclosure for this sale can be found here. Insiders have sold 33,353 shares of company stock worth $3,688,883 in the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Trading of Akamai Technologies

Several institutional investors have recently made changes to their positions in AKAM. Ronald Blue Trust Inc. boosted its position in Akamai Technologies by 457.4% in the third quarter. Ronald Blue Trust Inc. now owns 1,700 shares of the technology infrastructure company’s stock valued at $181,000 after buying an additional 1,395 shares in the last quarter. Kentucky Retirement Systems acquired a new position in Akamai Technologies in the third quarter valued at about $1,288,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Akamai Technologies in the third quarter valued at about $575,000. 1900 Wealth Management LLC acquired a new position in Akamai Technologies in the third quarter valued at about $1,709,000. Finally, Roberts Wealth Advisors LLC boosted its position in Akamai Technologies by 2.0% in the third quarter. Roberts Wealth Advisors LLC now owns 15,363 shares of the technology infrastructure company’s stock valued at $1,650,000 after buying an additional 302 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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.