Akamai Technologies (NASDAQ:AKAM) Price Target Cut to $72.00 by Analysts at JPMorgan Chase & Co.

Akamai Technologies (NASDAQ:AKAM) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $76.00 to $72.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “underweight” rating on the technology infrastructure company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 13.48% from the stock’s previous close.

A number of other equities research analysts have also commented on AKAM. Piper Sandler lowered Akamai Technologies from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $112.00 to $100.00 in a research report on Friday. Susquehanna dropped their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday. Hsbc Global Res upgraded shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Craig Hallum cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a research report on Friday. Finally, Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Akamai Technologies has an average rating of “Moderate Buy” and an average target price of $108.90.

Akamai Technologies Stock Performance

NASDAQ:AKAM traded down $14.81 during midday trading on Friday, reaching $83.22. The stock had a trading volume of 6,125,868 shares, compared to its average volume of 1,863,846. The stock has a market capitalization of $12.50 billion, a P/E ratio of 24.67, a PEG ratio of 3.58 and a beta of 0.65. The firm’s fifty day simple moving average is $96.60 and its 200-day simple moving average is $97.96. Akamai Technologies has a 1-year low of $82.15 and a 1-year high of $113.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.63% and a net margin of 13.27%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. On average, equities research analysts forecast that Akamai Technologies will post 4.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the transaction, the chief financial officer now owns 12,716 shares in the company, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the sale, the director now directly owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. The trade was a 5.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,782 shares of company stock valued at $1,523,951. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Akamai Technologies

Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Akamai Technologies in the fourth quarter valued at approximately $477,454,000. First Trust Advisors LP lifted its position in shares of Akamai Technologies by 15.6% during the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock valued at $489,383,000 after acquiring an additional 690,341 shares during the period. National Pension Service grew its holdings in shares of Akamai Technologies by 595.3% during the 4th quarter. National Pension Service now owns 318,912 shares of the technology infrastructure company’s stock worth $30,504,000 after purchasing an additional 273,043 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Akamai Technologies by 43.4% during the 4th quarter. Hsbc Holdings PLC now owns 778,208 shares of the technology infrastructure company’s stock worth $74,473,000 after purchasing an additional 235,394 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Akamai Technologies by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after purchasing an additional 202,746 shares during the period. Institutional investors 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.