Akamai Technologies (NASDAQ:AKAM) Price Target Lowered to $92.00 at Royal Bank of Canada

Akamai Technologies (NASDAQ:AKAM) had its price objective dropped by stock analysts at Royal Bank of Canada from $115.00 to $92.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the technology infrastructure company’s stock. Royal Bank of Canada’s price objective suggests a potential downside of 0.88% from the stock’s previous close.

A number of other equities research analysts have also weighed in on AKAM. Robert W. Baird lowered their price objective on shares of Akamai Technologies from $135.00 to $120.00 and set an “outperform” rating for the company in a report on Friday. StockNews.com raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Bank of America dropped their target price on shares of Akamai Technologies from $145.00 to $125.00 and set a “buy” rating on the stock in a report on Friday. Morgan Stanley dropped their target price on shares of Akamai Technologies from $117.00 to $106.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Citigroup dropped their target price on shares of Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.87.

Akamai Technologies Stock Performance

NASDAQ:AKAM traded down $9.64 during trading hours on Friday, reaching $92.82. The stock had a trading volume of 5,481,622 shares, compared to its average volume of 1,650,594. The stock has a market cap of $14.07 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 2.81 and a beta of 0.72. Akamai Technologies has a 12-month low of $84.19 and a 12-month high of $129.17. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a 50 day simple moving average of $105.68 and a 200 day simple moving average of $111.90.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, May 9th. The technology infrastructure company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.03). The company had revenue of $986.97 million during the quarter, compared to analysts’ expectations of $989.03 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 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 earnings per share. On average, research analysts forecast that Akamai Technologies will post 4.84 EPS for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In other news, EVP Anthony P. Williams sold 3,510 shares of the 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 transaction, the executive vice president now directly owns 4,299 shares in the company, valued at approximately $483,852.45. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Anthony P. Williams sold 3,510 shares of Akamai Technologies stock in a transaction on 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 of the company’s stock, valued at approximately $483,852.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the sale, the chief operating officer now directly owns 6,697 shares of the company’s stock, valued at approximately $735,196.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,753 shares of company stock worth $3,368,303. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AKAM. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Akamai Technologies by 0.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 34,816 shares of the technology infrastructure company’s stock worth $4,120,000 after purchasing an additional 97 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in shares of Akamai Technologies by 6.4% during the 4th quarter. Manchester Capital Management LLC now owns 1,622 shares of the technology infrastructure company’s stock worth $192,000 after buying an additional 97 shares during the period. ORG Partners LLC boosted its holdings in shares of Akamai Technologies by 16.7% during the 4th quarter. ORG Partners LLC now owns 700 shares of the technology infrastructure company’s stock worth $83,000 after buying an additional 100 shares during the period. Private Trust Co. NA raised its stake in Akamai Technologies by 17.9% during the 4th quarter. Private Trust Co. NA now owns 711 shares of the technology infrastructure company’s stock valued at $84,000 after purchasing an additional 108 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Akamai Technologies by 0.7% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,625 shares of the technology infrastructure company’s stock valued at $1,968,000 after buying an additional 108 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.