Akamai Technologies (NASDAQ:AKAM) Price Target Raised to $115.00

Akamai Technologies (NASDAQ:AKAM) had its price target increased by Oppenheimer from $100.00 to $115.00 in a research report report published on Thursday,MarketScreener reports. Oppenheimer currently has an outperform rating on the technology infrastructure company’s stock.

AKAM has been the subject of a number of other reports. Wall Street Zen downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Jefferies Financial Group downgraded Akamai Technologies to an “underperform” rating in a research report on Monday, December 15th. The Goldman Sachs Group increased their target price on Akamai Technologies from $67.00 to $69.00 and gave the stock a “sell” rating in a report on Friday, November 7th. Raymond James Financial boosted their price target on Akamai Technologies from $84.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. Finally, HSBC increased their price objective on shares of Akamai Technologies from $130.00 to $134.00 in a research note on Monday, November 10th. Seven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Akamai Technologies currently has a consensus rating of “Hold” and an average target price of $96.94.

Akamai Technologies Stock Up 4.0%

AKAM stock opened at $95.12 on Thursday. Akamai Technologies has a fifty-two week low of $67.51 and a fifty-two week high of $104.97. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.28 and a quick ratio of 2.28. The stock has a market capitalization of $13.68 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 3.43 and a beta of 0.70. The business’s fifty day moving average price is $90.22 and its two-hundred day moving average price is $82.33.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 EPS for the quarter, beating 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 business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the company posted $1.59 earnings per share. Akamai Technologies’s revenue was up 5.0% compared to the same quarter last year. On average, equities analysts anticipate that Akamai Technologies will post 4.6 earnings per share for the current year.

Insider Transactions at Akamai Technologies

In related news, CFO Edward J. Mcgowan sold 6,560 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $88.03, for a total value of $577,476.80. Following the completion of the transaction, the chief financial officer owned 16,442 shares of the company’s stock, valued at $1,447,389.26. This represents a 28.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Robert Blumofe sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $97.00, for a total transaction of $339,500.00. Following the completion of the sale, the chief technology officer owned 18,074 shares in the company, valued at $1,753,178. This represents a 16.22% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 28,818 shares of company stock valued at $2,589,254. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AKAM. LSV Asset Management boosted its holdings in shares of Akamai Technologies by 1,467.8% during the 4th quarter. LSV Asset Management now owns 783,900 shares of the technology infrastructure company’s stock valued at $68,395,000 after acquiring an additional 733,900 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new position in Akamai Technologies in the fourth quarter valued at about $51,000. Global Retirement Partners LLC boosted its stake in shares of Akamai Technologies by 1,058.9% during the fourth quarter. Global Retirement Partners LLC now owns 2,225 shares of the technology infrastructure company’s stock valued at $194,000 after purchasing an additional 2,033 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Akamai Technologies by 405.9% during the fourth quarter. IFP Advisors Inc now owns 936 shares of the technology infrastructure company’s stock worth $82,000 after purchasing an additional 751 shares during the last quarter. Finally, Banque Cantonale Vaudoise increased its stake in shares of Akamai Technologies by 14.1% in the fourth quarter. Banque Cantonale Vaudoise now owns 40,191 shares of the technology infrastructure company’s stock valued at $3,507,000 after buying an additional 4,965 shares during the period. 94.28% of the stock is currently owned by institutional investors.

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.