Akamai Technologies (NASDAQ:AKAM) Now Covered by Analysts at Oppenheimer

Oppenheimer started coverage on shares of Akamai Technologies (NASDAQ:AKAM) in a research report released on Thursday, MarketBeat reports. The brokerage issued an outperform rating and a $100.00 price target on the technology infrastructure company’s stock.

AKAM has been the topic of several other research reports. Raymond James reduced their target price on shares of Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, February 21st. JPMorgan Chase & Co. decreased their price objective on shares of Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, February 21st. UBS Group assumed coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 target price for the company. TD Cowen lowered Akamai Technologies from a “buy” rating to a “hold” rating and decreased their price target for the stock from $125.00 to $98.00 in a research report on Friday, February 21st. Finally, Citigroup cut their price objective on Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.55.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $81.55 on Thursday. The firm has a market capitalization of $12.26 billion, a PE ratio of 25.02, a price-to-earnings-growth ratio of 2.74 and a beta of 0.68. The company has a quick ratio of 1.33, a current ratio of 1.23 and a debt-to-equity ratio of 0.49. Akamai Technologies has a 12-month low of $75.50 and a 12-month high of $110.18. The firm has a 50-day moving average price of $90.74 and a 200 day moving average price of $95.42.

Akamai Technologies (NASDAQ:AKAM) last issued 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). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. Research analysts anticipate that Akamai Technologies will post 4.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies 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 sale, the executive vice president now owns 23,104 shares of the company’s stock, valued at approximately $2,115,633.28. The trade was a 14.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO F Thomson Leighton purchased 37,670 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $79.58 per share, for a total transaction of $2,997,778.60. Following the purchase, the chief executive officer now owns 137,342 shares in the company, valued at $10,929,676.36. This trade represents a 37.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 35,394 shares of company stock valued at $3,019,323 over the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Trading of Akamai Technologies

A number of hedge funds have recently modified their holdings of AKAM. Swiss National Bank increased its stake in Akamai Technologies by 0.8% in the third quarter. Swiss National Bank now owns 452,100 shares of the technology infrastructure company’s stock valued at $45,639,000 after purchasing an additional 3,500 shares in the last quarter. Caprock Group LLC bought a new stake in shares of Akamai Technologies in the 3rd quarter valued at $252,000. Prospera Financial Services Inc acquired a new stake in Akamai Technologies during the 3rd quarter worth $209,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Akamai Technologies during the third quarter worth about $1,303,000. Finally, Advisors Asset Management Inc. grew its stake in Akamai Technologies by 2.6% in the third quarter. Advisors Asset Management Inc. now owns 14,018 shares of the technology infrastructure company’s stock valued at $1,415,000 after acquiring an additional 354 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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.