Akamai Technologies (NASDAQ:AKAM) PT Lowered to $106.00 at Morgan Stanley

Akamai Technologies (NASDAQ:AKAM) had its price target decreased by Morgan Stanley from $117.00 to $106.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the technology infrastructure company’s stock. Morgan Stanley’s target price suggests a potential upside of 14.20% from the stock’s previous close.

AKAM has been the topic of several other research reports. Susquehanna lowered their price target on shares of Akamai Technologies from $150.00 to $135.00 and set a “positive” rating on the stock in a report on Friday. Robert W. Baird reduced their target price on Akamai Technologies from $135.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday. KeyCorp lifted their target price on Akamai Technologies from $134.00 to $138.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. Bank of America reduced their target price on Akamai Technologies from $145.00 to $125.00 and set a “buy” rating on the stock in a report on Friday. Finally, Citigroup reduced their target price on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.87.

Akamai Technologies Stock Down 9.4 %

Shares of Akamai Technologies stock traded down $9.64 on Friday, reaching $92.82. The company’s stock had a trading volume of 5,481,622 shares, compared to its average volume of 1,650,594. The company has a market capitalization of $14.07 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 2.81 and a beta of 0.72. The firm’s fifty day simple moving average is $105.68 and its two-hundred day simple moving average is $111.90. Akamai Technologies has a 52 week low of $84.19 and a 52 week 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.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Thursday, May 9th. The technology infrastructure company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.03). Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The firm had revenue of $986.97 million during the quarter, compared to analysts’ expectations of $989.03 million. During the same period in the previous year, the business posted $1.01 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts anticipate that Akamai Technologies will post 4.84 earnings per share for the current year.

Insider Activity at Akamai Technologies

In related news, EVP Anthony P. Williams sold 3,510 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total value of $395,050.50. Following the transaction, the executive vice president now directly 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 SEC, which is available through this hyperlink. In related news, EVP Anthony P. Williams sold 3,510 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total value of $395,050.50. Following the transaction, the executive vice president now directly 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 SEC, which is available through this hyperlink. Also, COO Adam Karon sold 8,394 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $108.26, for a total value of $908,734.44. Following the completion of the transaction, the chief operating officer now directly owns 21,046 shares in the company, valued at $2,278,439.96. The disclosure for this sale can be found here. Insiders have sold a total of 30,753 shares of company stock valued at $3,368,303 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Akamai Technologies

A number of hedge funds have recently bought and sold shares of AKAM. Planned Solutions Inc. acquired a new stake in Akamai Technologies in the 4th quarter valued at about $37,000. Headinvest LLC acquired a new stake in shares of Akamai Technologies during the 3rd quarter worth approximately $40,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Akamai Technologies during the 4th quarter worth approximately $43,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Akamai Technologies during the 4th quarter worth approximately $44,000. Finally, Lindbrook Capital LLC increased its holdings in shares of Akamai Technologies by 43.7% during the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock worth $49,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

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.