Shares of Akamai Technologies, Inc. (NASDAQ:AKAM – Get Free Report) have earned an average recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $101.25.
Several analysts have recently issued reports on AKAM shares. Wall Street Zen downgraded Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Saturday. Morgan Stanley decreased their target price on Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Piper Sandler reiterated a “neutral” rating and set a $88.00 price target (up previously from $80.00) on shares of Akamai Technologies in a report on Friday, May 9th. Scotiabank reduced their price objective on shares of Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating for the company in a research note on Friday, May 9th. Finally, Citigroup decreased their price objective on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, February 24th.
View Our Latest Stock Analysis on AKAM
Akamai Technologies Trading Down 0.4%
Akamai Technologies (NASDAQ:AKAM – Get Free Report) last posted its earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.58 by $0.12. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Akamai Technologies had a net margin of 11.26% and a return on equity of 14.09%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.64 earnings per share. On average, research analysts predict that Akamai Technologies will post 4.6 earnings per share for the current fiscal year.
Insider Activity at Akamai Technologies
In other news, EVP Kim Salem-Jackson sold 13,157 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $76.33, for a total value of $1,004,273.81. Following the completion of the transaction, the executive vice president now owns 43,575 shares in the company, valued at approximately $3,326,079.75. This represents a 23.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Adam Karon sold 3,927 shares of Akamai Technologies stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $85.02, for a total transaction of $333,873.54. Following the sale, the chief operating officer now owns 10,809 shares in the company, valued at approximately $918,981.18. This trade represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Akamai Technologies
Several large investors have recently modified their holdings of AKAM. WPG Advisers LLC bought a new position in shares of Akamai Technologies during the 1st quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Akamai Technologies by 54.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company’s stock valued at $35,000 after acquiring an additional 155 shares during the period. Itau Unibanco Holding S.A. boosted its stake in shares of 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 valued at $45,000 after purchasing an additional 234 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Akamai Technologies in the 4th quarter valued at $49,000. Finally, AlphaQuest LLC bought a new stake in shares of Akamai Technologies in the 1st quarter worth about $42,000. 94.28% of the stock is currently owned by institutional investors.
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.
See Also
- Five stocks we like better than Akamai Technologies
- How to Start Investing in Real Estate
- GE Aerospace Turns Engines Into Long-Term Profits
- 3 Small Caps With Big Return Potential
- Smith & Wesson Stock Falls on Earnings Miss, Tariff Woes
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- Marvell’s New AI Chip Deals Capture Wall Street’s Attention
Receive News & Ratings for Akamai Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies and related companies with MarketBeat.com's FREE daily email newsletter.