Akamai Technologies, Inc. (NASDAQ:AKAM) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have earned a consensus rating of “Moderate Buy” from the nineteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $116.47.

A number of equities research analysts have weighed in on AKAM shares. Scotiabank boosted their target price on shares of Akamai Technologies from $110.00 to $115.00 and gave the company a “sector outperform” rating in a research note on Friday, August 9th. Needham & Company LLC restated a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $125.00 in a research note on Friday, August 9th. Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Piper Sandler dropped their price target on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $100.72 on Tuesday. Akamai Technologies has a twelve month low of $87.59 and a twelve month high of $129.17. The company has a 50 day moving average of $98.20 and a 200 day moving average of $98.20. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.50. The firm has a market cap of $15.34 billion, a P/E ratio of 25.05, a PEG ratio of 3.10 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The business had revenue of $979.60 million during the quarter, compared to analyst estimates of $977.67 million. During the same quarter in the previous year, the firm earned $1.01 EPS. Akamai Technologies’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts expect that Akamai Technologies will post 4.42 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now owns 30,703 shares in the company, valued at approximately $2,987,401.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the completion of the transaction, the director now directly owns 16,719 shares in the company, valued at $1,684,104.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The disclosure for this sale can be found here. Insiders sold a total of 7,500 shares of company stock valued at $741,655 over the last three months. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in Akamai Technologies during the 2nd quarter valued at about $984,000. Systematic Financial Management LP grew its stake in shares of Akamai Technologies by 52.7% during the second quarter. Systematic Financial Management LP now owns 4,910 shares of the technology infrastructure company’s stock worth $442,000 after acquiring an additional 1,695 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its position in shares of Akamai Technologies by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,411,028 shares of the technology infrastructure company’s stock valued at $127,105,000 after purchasing an additional 14,347 shares during the last quarter. Creative Planning raised its position in shares of Akamai Technologies by 0.9% in the 2nd quarter. Creative Planning now owns 106,970 shares of the technology infrastructure company’s stock valued at $9,636,000 after purchasing an additional 980 shares during the last quarter. Finally, MBB Public Markets I LLC boosted its stake in Akamai Technologies by 335.0% in the 2nd quarter. MBB Public Markets I LLC now owns 10,819 shares of the technology infrastructure company’s stock worth $975,000 after purchasing an additional 8,332 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

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.