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

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

AKAM has been the topic of several other research reports. Piper Sandler lowered 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. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research note on Friday. TD Cowen cut shares of Akamai Technologies from a “buy” rating to a “hold” rating and cut their price target for the stock from $125.00 to $98.00 in a research note on Friday. Craig Hallum cut Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a report on Friday. Finally, Scotiabank cut their target price 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. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $107.90.

Akamai Technologies Stock Down 21.7 %

AKAM stock opened at $76.73 on Friday. Akamai Technologies has a twelve month low of $76.50 and a twelve 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 company has a market cap of $11.53 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 3.58 and a beta of 0.65. The business’s 50-day simple moving average is $96.15 and its 200 day simple moving average is $97.86.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data 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). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a return on equity of 14.63% and a net margin of 13.27%. On average, research analysts anticipate that Akamai Technologies will post 4.28 earnings per share for the current year.

Insider Activity

In other news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction that occurred 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 in the company, valued at $2,115,633.28. The trade was a 14.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William Raymond Wagner sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the sale, the director now owns 15,719 shares of the company’s stock, valued at $1,467,840.22. The trade was a 5.98 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,782 shares of company stock valued at $1,523,951. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Advisors LP raised its holdings in Akamai Technologies by 15.6% in the fourth quarter. First Trust Advisors LP now owns 5,116,398 shares of the technology infrastructure company’s stock worth $489,383,000 after purchasing an additional 690,341 shares during the period. Norges Bank bought a new stake in shares of Akamai Technologies in the 4th quarter valued at $477,454,000. Geode Capital Management LLC raised its stake 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 during the period. Mackenzie Financial Corp raised its stake 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 buying an additional 81,744 shares during the period. Finally, Earnest Partners LLC lifted its holdings in Akamai Technologies by 2.7% during 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 in the last quarter. Institutional investors own 94.28% of the company’s stock.

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.