Akamai Technologies (NASDAQ:AKAM) Stock Rating Lowered by TD Cowen

TD Cowen downgraded shares of Akamai Technologies (NASDAQ:AKAM) from a buy rating to a hold rating in a report issued on Friday, Marketbeat reports. The firm currently has $98.00 price objective on the technology infrastructure company’s stock, down from their previous price objective of $125.00.

Other analysts also recently issued reports about the company. Scotiabank decreased their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Evercore ISI reaffirmed an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Robert W. Baird decreased their price objective on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Finally, Citigroup dropped their target price on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.90.

Akamai Technologies Price Performance

AKAM opened at $76.73 on Friday. Akamai Technologies has a 1 year low of $76.50 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. The company has a market capitalization of $11.53 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 3.58 and a beta of 0.65. The firm’s fifty day moving average price is $96.15 and its two-hundred day moving average price is $97.86.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Akamai Technologies had a return on equity of 14.63% and a net margin of 13.27%. As a group, analysts anticipate that Akamai Technologies will post 4.28 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the sale, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the transaction, the director now directly owns 15,719 shares in the company, valued at approximately $1,467,840.22. This represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,782 shares of company stock worth $1,523,951. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Akamai Technologies

A number of hedge funds have recently bought and sold shares of AKAM. Farther Finance Advisors LLC raised its stake in shares of Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 114 shares in the last quarter. Itau Unibanco Holding S.A. raised its position in Akamai Technologies by 99.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock worth $45,000 after purchasing an additional 234 shares during the period. SBI Securities Co. Ltd. bought a new stake in Akamai Technologies in the fourth quarter worth $49,000. Bruce G. Allen Investments LLC boosted its position in Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after buying an additional 155 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in shares of Akamai Technologies during the fourth quarter valued at about $57,000. 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.