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

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

Several other equities research analysts have also recently weighed in on the stock. Piper Sandler cut shares of Akamai Technologies from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $112.00 to $100.00 in a research report on Friday. Citigroup lowered their target price on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Robert W. Baird lowered their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. TD Cowen downgraded Akamai Technologies from a “buy” rating to a “hold” rating and lowered their target price for the stock from $125.00 to $98.00 in a research note on Friday. 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 note on Monday, November 11th. Nine research 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $114.26.

Akamai Technologies Trading Down 2.2 %

Shares of Akamai Technologies stock opened at $98.05 on Friday. The firm has a 50-day moving average of $96.60 and a 200-day moving average of $97.96. The stock has a market cap of $14.73 billion, a PE ratio of 29.01, a PEG ratio of 3.55 and a beta of 0.65. Akamai Technologies has a 52-week low of $84.70 and a 52-week high of $113.36. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

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

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $91.57, for a total transaction of $366,280.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the transaction, the director now owns 15,719 shares in the company, valued at $1,467,840.22. The trade was a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,782 shares of company stock worth $1,523,951 over the last ninety days. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its holdings 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 worth $25,000 after buying an additional 114 shares in the last quarter. Itau Unibanco Holding S.A. boosted its holdings 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 worth $45,000 after buying an additional 234 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Akamai Technologies during the 4th quarter worth approximately $49,000. Bruce G. Allen Investments LLC boosted its holdings 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 worth $53,000 after buying an additional 155 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new position in shares of Akamai Technologies during the 4th quarter worth approximately $57,000. 94.28% of the stock is currently 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.