Akamai Technologies (NASDAQ:AKAM) Given New $115.00 Price Target at Oppenheimer

Akamai Technologies (NASDAQ:AKAM) had its price objective boosted by equities research analysts at Oppenheimer from $100.00 to $115.00 in a note issued to investors on Thursday,MarketScreener reports. The firm currently has an “outperform” rating on the technology infrastructure company’s stock. Oppenheimer’s price objective points to a potential upside of 25.70% from the company’s previous close.

A number of other equities analysts also recently commented on the company. President Capital increased their price objective on Akamai Technologies from $104.00 to $116.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Wall Street Zen downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Akamai Technologies in a research note on Monday, December 29th. Scotiabank lifted their target price on Akamai Technologies from $94.00 to $105.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 9th. Finally, The Goldman Sachs Group boosted their price objective on Akamai Technologies from $67.00 to $69.00 and gave the company a “sell” rating in a research report on Friday, November 7th. Seven investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $96.94.

Akamai Technologies Trading Down 0.5%

Shares of AKAM stock opened at $91.49 on Thursday. The stock has a 50-day simple moving average of $90.11 and a 200 day simple moving average of $82.20. The stock has a market capitalization of $13.16 billion, a P/E ratio of 26.83, a P/E/G ratio of 3.32 and a beta of 0.70. Akamai Technologies has a fifty-two week low of $67.51 and a fifty-two week high of $104.97. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.87.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.64 by $0.22. Akamai Technologies had a net margin of 12.26% and a return on equity of 14.16%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the company posted $1.59 earnings per share. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, sell-side analysts expect that Akamai Technologies will post 4.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Mani Sundaram sold 10,438 shares of Akamai Technologies stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $89.25, for a total value of $931,591.50. Following the completion of the transaction, the executive vice president directly owned 13,550 shares of the company’s stock, valued at $1,209,337.50. The trade was a 43.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Robert Blumofe sold 3,500 shares of the stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $97.00, for a total transaction of $339,500.00. Following the sale, the chief technology officer directly owned 18,074 shares in the company, valued at approximately $1,753,178. This represents a 16.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,818 shares of company stock valued at $2,589,254 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Akamai Technologies

Several hedge funds have recently added to or reduced their stakes in AKAM. Brighton Jones LLC raised its holdings in Akamai Technologies by 101.4% in the fourth quarter. Brighton Jones LLC now owns 4,016 shares of the technology infrastructure company’s stock worth $384,000 after purchasing an additional 2,022 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Akamai Technologies by 35.2% during the first quarter. Jones Financial Companies Lllp now owns 1,087 shares of the technology infrastructure company’s stock worth $88,000 after acquiring an additional 283 shares during the period. United Services Automobile Association bought a new stake in Akamai Technologies in the 1st quarter valued at $266,000. Empowered Funds LLC lifted its holdings in shares of Akamai Technologies by 73.0% in the first quarter. Empowered Funds LLC now owns 7,134 shares of the technology infrastructure company’s stock valued at $574,000 after purchasing an additional 3,010 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Akamai Technologies by 8.2% during the second quarter. Janney Montgomery Scott LLC now owns 17,899 shares of the technology infrastructure company’s stock worth $1,428,000 after buying an additional 1,351 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

About Akamai Technologies

Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.

The company’s core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.