Akamai Technologies (NASDAQ:AKAM) Price Target Lowered to $83.00 at Morgan Stanley

Akamai Technologies (NASDAQ:AKAM) had its price objective decreased by Morgan Stanley from $85.00 to $83.00 in a research note issued on Friday,MarketScreener reports. The brokerage currently has an “underweight” rating on the technology infrastructure company’s stock. Morgan Stanley’s price target points to a potential upside of 0.18% from the company’s current price.

A number of other analysts have also issued reports on the stock. Zacks Research raised shares of Akamai Technologies to a “hold” rating in a research report on Monday, August 11th. Raymond James Financial decreased their price target on shares of Akamai Technologies from $110.00 to $84.00 and set an “outperform” rating for the company in a report on Friday, August 8th. DA Davidson reiterated a “buy” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research note on Thursday, October 16th. Bank of America decreased their target price on Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating for the company in a research note on Monday, October 20th. Finally, Piper Sandler lifted their price target on Akamai Technologies from $83.00 to $86.00 and gave the stock a “neutral” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Akamai Technologies has an average rating of “Hold” and a consensus target price of $93.70.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM traded up $9.86 during midday trading on Friday, hitting $82.86. The company’s stock had a trading volume of 2,925,202 shares, compared to its average volume of 2,247,965. The firm’s fifty day moving average price is $75.84 and its 200-day moving average price is $77.15. The firm has a market cap of $11.88 billion, a P/E ratio of 29.39, a P/E/G ratio of 3.49 and a beta of 0.72. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.31 and a current ratio of 2.31. Akamai Technologies has a 1-year low of $67.51 and a 1-year high of $103.75.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.22. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the business earned $1.59 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Akamai Technologies has set its FY 2025 guidance at 6.930-7.130 EPS. Q4 2025 guidance at 1.650-1.850 EPS. On average, sell-side analysts forecast that Akamai Technologies will post 4.6 EPS for the current fiscal year.

Insider Transactions at Akamai Technologies

In other news, CTO Robert Blumofe sold 3,000 shares of Akamai Technologies stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $77.00, for a total transaction of $231,000.00. Following the sale, the chief technology officer directly owned 27,910 shares in the company, valued at approximately $2,149,070. The trade was a 9.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paul C. Joseph sold 5,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $76.65, for a total transaction of $383,250.00. Following the completion of the sale, the executive vice president directly owned 27,349 shares in the company, valued at approximately $2,096,300.85. The trade was a 15.46% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 12,000 shares of company stock valued at $917,290. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

Hedge funds have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ grew its position in Akamai Technologies by 94.5% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 64,829 shares of the technology infrastructure company’s stock valued at $4,908,000 after acquiring an additional 31,498 shares during the period. Zions Bancorporation National Association UT boosted its stake in shares of Akamai Technologies by 1,097.1% in the 3rd quarter. Zions Bancorporation National Association UT now owns 4,932 shares of the technology infrastructure company’s stock valued at $374,000 after purchasing an additional 4,520 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Akamai Technologies by 1.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 27,407 shares of the technology infrastructure company’s stock worth $2,076,000 after purchasing an additional 462 shares during the last quarter. Metis Global Partners LLC increased its position in shares of Akamai Technologies by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 10,486 shares of the technology infrastructure company’s stock worth $794,000 after purchasing an additional 192 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in Akamai Technologies during the 3rd quarter valued at about $63,000. 94.28% of the stock is owned by institutional investors and hedge funds.

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.