Akamai Technologies (NASDAQ:AKAM) Price Target Lowered to $105.00 at Susquehanna

Akamai Technologies (NASDAQ:AKAM) had its target price reduced by Susquehanna from $110.00 to $105.00 in a research note released on Friday morning,Benzinga reports. They currently have a positive rating on the technology infrastructure company’s stock.

A number of other equities research analysts have also issued reports on the company. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research report on Monday, December 2nd. Robert W. Baird decreased their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Evercore ISI reissued an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a research report on Tuesday, December 17th. Piper Sandler downgraded shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $112.00 to $100.00 in a research report on Friday. Finally, HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.90.

Akamai Technologies Stock Down 21.7 %

Shares of AKAM stock opened at $76.73 on Friday. Akamai Technologies has a 12-month low of $76.50 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. The firm has a fifty day moving average of $96.15 and a 200-day moving average of $97.86. The company has a market capitalization of $11.53 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 3.58 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.63% and a net margin of 13.27%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. As a group, equities research analysts predict 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 on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the sale, the chief financial officer now owns 12,716 shares of the company’s stock, 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 SEC, which is available through this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total transaction of $366,280.00. Following the completion of the transaction, the executive vice president now owns 23,104 shares in the company, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have 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 bought and sold shares of the stock. Mackenzie Financial Corp boosted its holdings in shares of Akamai Technologies by 3.5% during the fourth quarter. Mackenzie Financial Corp now owns 2,427,580 shares of the technology infrastructure company’s stock worth $232,198,000 after acquiring an additional 81,744 shares during the period. Forum Financial Management LP acquired a new stake in Akamai Technologies during the 4th quarter worth approximately $252,000. Woodline Partners LP bought a new stake in Akamai Technologies in the 4th quarter valued at $458,000. Two Sigma Advisers LP grew its holdings in Akamai Technologies by 23.5% in the 4th quarter. Two Sigma Advisers LP now owns 78,900 shares of the technology infrastructure company’s stock valued at $7,547,000 after buying an additional 15,000 shares in the last quarter. Finally, Texas Bank & Trust Co bought a new position in Akamai Technologies during the 4th quarter worth $316,000. 94.28% of the stock is owned by institutional investors.

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.