Analysts Set Akamai Technologies, Inc. (NASDAQ:AKAM) PT at $119.50

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have been assigned an average recommendation of “Moderate Buy” from the eighteen brokerages that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $119.50.

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

Insider Activity at Akamai Technologies

In related news, CMO Kim Salem-Jackson sold 2,600 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the transaction, the chief marketing officer now directly owns 27,663 shares of the company’s stock, valued at approximately $3,410,847.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Akamai Technologies news, COO Adam Karon sold 8,394 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.26, for a total value of $908,734.44. Following the sale, the chief operating officer now owns 21,046 shares in the company, valued at approximately $2,278,439.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CMO Kim Salem-Jackson sold 2,600 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the sale, the chief marketing officer now owns 27,663 shares in the company, valued at approximately $3,410,847.90. The disclosure for this sale can be found here. Insiders have sold a total of 37,353 shares of company stock valued at $4,159,203 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Kapitalo Investimentos Ltda raised its stake in shares of Akamai Technologies by 114.7% during the 4th quarter. Kapitalo Investimentos Ltda now owns 1,447 shares of the technology infrastructure company’s stock worth $171,000 after buying an additional 773 shares during the period. Wahed Invest LLC raised its stake in shares of Akamai Technologies by 5.0% during the 4th quarter. Wahed Invest LLC now owns 2,547 shares of the technology infrastructure company’s stock worth $301,000 after buying an additional 122 shares during the period. Wellington Management Group LLP raised its stake in shares of Akamai Technologies by 17.5% during the 4th quarter. Wellington Management Group LLP now owns 2,985 shares of the technology infrastructure company’s stock worth $353,000 after buying an additional 444 shares during the period. Royal London Asset Management Ltd. raised its stake in Akamai Technologies by 2.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 60,775 shares of the technology infrastructure company’s stock valued at $7,193,000 after purchasing an additional 1,498 shares during the last quarter. Finally, American International Group Inc. raised its stake in Akamai Technologies by 0.3% in the 4th quarter. American International Group Inc. now owns 45,528 shares of the technology infrastructure company’s stock valued at $5,388,000 after purchasing an additional 151 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.

Akamai Technologies Trading Up 0.5 %

NASDAQ AKAM opened at $109.33 on Tuesday. Akamai Technologies has a one year low of $76.85 and a one year 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 company has a market capitalization of $16.57 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 3.07 and a beta of 0.72. The company’s 50-day simple moving average is $114.28 and its two-hundred day simple moving average is $112.75.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, February 13th. The technology infrastructure company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.10. The company had revenue of $995.00 million for the quarter, compared to analyst estimates 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 was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $1.01 earnings per share. Equities analysts forecast that Akamai Technologies will post 4.84 EPS for the current fiscal year.

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.