Citigroup Cuts Akamai Technologies (NASDAQ:AKAM) Price Target to $95.00

Akamai Technologies (NASDAQ:AKAM) had its price target decreased by Citigroup from $102.00 to $95.00 in a research report report published on Monday,Benzinga reports. Citigroup currently has a neutral rating on the technology infrastructure company’s stock.

AKAM has been the topic of several other research reports. Susquehanna cut their price objective on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, February 21st. Piper Sandler cut shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $112.00 to $100.00 in a report on Friday, February 21st. Royal Bank of Canada cut their price objective on Akamai Technologies from $100.00 to $90.00 and set a “sector perform” rating for the company in a report on Friday, February 21st. Bank of America downgraded Akamai Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the company from $125.00 to $100.00 in a research note on Friday, February 21st. Finally, Scotiabank dropped their price objective on Akamai Technologies from $115.00 to $107.00 and set a “sector outperform” rating on the stock in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.55.

Akamai Technologies Trading Up 2.0 %

NASDAQ:AKAM opened at $79.58 on Monday. Akamai Technologies has a 1 year low of $75.50 and a 1 year high of $113.36. The business has a fifty day moving average of $95.08 and a 200-day moving average of $97.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.33 and a current ratio of 1.23. The stock has a market cap of $11.96 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 2.74 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a net margin of 12.65% and a return on equity of 14.35%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Equities analysts predict that Akamai Technologies will post 4.6 earnings per share for the current year.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total value of $366,280.00. Following the sale, the executive vice president now directly owns 23,104 shares in the company, valued at approximately $2,115,633.28. This represents a 14.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Trading of Akamai Technologies

Several large investors have recently added to or reduced their stakes in the company. First Trust Advisors LP increased its holdings in Akamai Technologies by 15.6% during the 4th quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock valued at $489,383,000 after purchasing an additional 690,341 shares in the last quarter. Norges Bank bought a new position in shares of Akamai Technologies in the fourth quarter valued at about $477,454,000. Geode Capital Management LLC lifted its position in Akamai Technologies by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock worth $423,066,000 after buying an additional 202,746 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Akamai Technologies by 3.5% during the 4th 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 last quarter. Finally, Earnest Partners LLC raised its stake in shares of Akamai Technologies by 2.7% in the fourth quarter. Earnest Partners LLC now owns 2,215,735 shares of the technology infrastructure company’s stock worth $211,935,000 after acquiring an additional 58,013 shares during the last quarter. 94.28% of the stock is 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.