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

Akamai Technologies, Inc. (NASDAQ:AKAM) has been assigned an average rating of “Moderate Buy” from the sixteen ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $121.27.

A number of brokerages have recently issued reports on AKAM. Royal Bank of Canada reiterated a “sector perform” rating and set a $115.00 target price on shares of Akamai Technologies in a research report on Wednesday, February 14th. StockNews.com upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Piper Sandler upped their target price 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 upgraded shares of Akamai Technologies from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $128.00 to $135.00 in a research report on Thursday, March 7th. Finally, HSBC lowered shares of Akamai Technologies from a “hold” rating to a “reduce” rating and reduced their target price for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CMO Kim Salem-Jackson sold 2,600 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were 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 of the company’s stock, valued at $3,410,847.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Kim Salem-Jackson sold 2,600 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $123.30, for a total value of $320,580.00. Following the completion of the transaction, the chief marketing officer now owns 27,663 shares in the company, valued at $3,410,847.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adam Karon sold 8,394 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the transaction, the chief operating officer now owns 21,046 shares of the company’s stock, valued at approximately $2,278,439.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,353 shares of company stock valued at $3,688,883. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ronald Blue Trust Inc. boosted its holdings in Akamai Technologies by 457.4% during the third quarter. Ronald Blue Trust Inc. now owns 1,700 shares of the technology infrastructure company’s stock worth $181,000 after purchasing an additional 1,395 shares during the last quarter. Kentucky Retirement Systems acquired a new position in Akamai Technologies during the third quarter worth $1,288,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Akamai Technologies during the third quarter worth $575,000. 1900 Wealth Management LLC acquired a new position in Akamai Technologies during the third quarter worth $1,709,000. Finally, Roberts Wealth Advisors LLC boosted its holdings in Akamai Technologies by 2.0% during the third quarter. Roberts Wealth Advisors LLC now owns 15,363 shares of the technology infrastructure company’s stock worth $1,650,000 after purchasing an additional 302 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Price Performance

NASDAQ:AKAM opened at $102.19 on Friday. The firm has a market cap of $15.48 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 2.85 and a beta of 0.72. Akamai Technologies has a 12 month low of $76.85 and a 12 month 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. The company’s 50-day moving average price is $107.32 and its two-hundred day moving average price is $112.37.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.10. The firm 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%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. On average, equities analysts anticipate 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.