Akamai Technologies (NASDAQ:AKAM) Rating Lowered to “Neutral” at Bank of America

Akamai Technologies (NASDAQ:AKAM) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued on Friday,Finviz reports. They presently have a $100.00 price target on the technology infrastructure company’s stock, down from their prior price target of $125.00. Bank of America‘s price objective would suggest a potential upside of 1.99% from the stock’s current price.

A number of other equities research analysts have also commented on the company. UBS Group assumed coverage on Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target for the company. Scotiabank lowered their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Evercore ISI reaffirmed an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research report on Tuesday, December 17th. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research report on Monday, December 2nd. Finally, HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research report on Monday, November 11th. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $114.26.

Akamai Technologies Price Performance

Shares of AKAM opened at $98.05 on Friday. The stock has a market cap of $14.73 billion, a P/E ratio of 29.01, a P/E/G ratio of 3.55 and a beta of 0.65. The business’s fifty day moving average is $96.60 and its 200 day moving average is $97.96. Akamai Technologies has a 12-month low of $84.70 and a 12-month high of $113.36. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a net margin of 13.27% and a return on equity of 14.63%. Sell-side analysts anticipate that Akamai Technologies will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the transaction, the chief financial officer now owns 12,716 shares in the company, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the transaction, the director now owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. This represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,782 shares of company stock valued at $1,523,951. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AKAM. Farther Finance Advisors LLC boosted its position in shares of Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 114 shares during the last quarter. Itau Unibanco Holding S.A. boosted its position in shares of Akamai Technologies by 99.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock valued at $45,000 after acquiring an additional 234 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Akamai Technologies during the 4th quarter valued at about $49,000. Bruce G. Allen Investments LLC boosted its position in shares of Akamai Technologies by 38.8% during the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after acquiring an additional 155 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of Akamai Technologies during the 4th quarter valued at about $57,000. Institutional investors own 94.28% of the company’s stock.

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.