Akamai Technologies, Inc. (NASDAQ:AKAM) Receives $117.00 Average Target Price from Analysts

Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) have earned an average rating of “Buy” from the twenty-five research firms that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $117.00.

AKAM has been the subject of several analyst reports. B. Riley raised their price objective on Akamai Technologies from $125.00 to $130.00 in a research note on Wednesday, July 29th. Craig Hallum raised their price objective on Akamai Technologies from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Royal Bank of Canada raised their price objective on Akamai Technologies from $94.00 to $105.00 in a research note on Wednesday, July 29th. JPMorgan Chase & Co. raised their price target on Akamai Technologies from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Finally, Piper Sandler raised their price target on Akamai Technologies from $119.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th.

Shares of NASDAQ:AKAM traded down $1.21 during trading on Friday, reaching $105.54. The company’s stock had a trading volume of 48,608 shares, compared to its average volume of 1,299,317. The stock has a market capitalization of $17.37 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 2.11 and a beta of 0.31. Akamai Technologies has a 12 month low of $75.18 and a 12 month high of $120.00. The company has a current ratio of 3.34, a quick ratio of 3.34 and a debt-to-equity ratio of 0.48. The firm’s 50 day simple moving average is $109.72 and its two-hundred day simple moving average is $106.53.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, July 28th. The technology infrastructure company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.17. The business had revenue of $794.72 million for the quarter, compared to the consensus estimate of $767.38 million. Akamai Technologies had a return on equity of 17.37% and a net margin of 17.82%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 earnings per share. Research analysts anticipate that Akamai Technologies will post 4.05 EPS for the current fiscal year.

In other Akamai Technologies news, EVP Anthony P. Williams sold 3,440 shares of Akamai Technologies stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $107.85, for a total transaction of $371,004.00. Following the completion of the sale, the executive vice president now owns 3,139 shares of the company’s stock, valued at approximately $338,541.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Aaron Ahola sold 2,761 shares of Akamai Technologies stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $108.73, for a total value of $300,203.53. Following the sale, the executive vice president now directly owns 3,885 shares of the company’s stock, valued at approximately $422,416.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,610 shares of company stock worth $1,054,720. 2.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Bay Harbor Wealth Management LLC lifted its holdings in Akamai Technologies by 19.0% in the second quarter. Bay Harbor Wealth Management LLC now owns 570 shares of the technology infrastructure company’s stock valued at $61,000 after acquiring an additional 91 shares during the period. Capital Asset Advisory Services LLC grew its stake in shares of Akamai Technologies by 3.2% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 3,162 shares of the technology infrastructure company’s stock worth $336,000 after purchasing an additional 99 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Akamai Technologies by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,000 shares of the technology infrastructure company’s stock worth $750,000 after purchasing an additional 100 shares during the period. Appleton Partners Inc. MA grew its stake in shares of Akamai Technologies by 2.5% during the 3rd quarter. Appleton Partners Inc. MA now owns 4,053 shares of the technology infrastructure company’s stock worth $448,000 after purchasing an additional 100 shares during the period. Finally, GW Henssler & Associates Ltd. grew its stake in shares of Akamai Technologies by 2.6% during the 3rd quarter. GW Henssler & Associates Ltd. now owns 3,888 shares of the technology infrastructure company’s stock worth $430,000 after purchasing an additional 100 shares during the period. 88.37% of the stock is owned by institutional investors.

About Akamai Technologies

Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides Web Application Protector to safeguard web assets from web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Edge DNS, which translates human-readable domain names into numerical IP addresses; Site Shield that prevents attacker from directly targeting the application origin and forces traffic to go through its network, where attack can be better detected and mitigated; identity Cloud, a customer identity access management solution; Prolexic Routed to protect web- and IP-based application; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.

Featured Article: What is Cost of Debt?

Analyst Recommendations for Akamai Technologies (NASDAQ:AKAM)

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.