Akamai Technologies (NASDAQ:AKAM) Price Target Lowered to $110.00 at Raymond James

Akamai Technologies (NASDAQ:AKAM) had its price target lowered by investment analysts at Raymond James from $115.00 to $110.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the technology infrastructure company’s stock. Raymond James’ price objective would suggest a potential upside of 33.63% from the stock’s current price.

Several other brokerages also recently issued reports on AKAM. Craig Hallum downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 price objective for the company. in a research report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a research report on Friday. JPMorgan Chase & Co. cut their target price on Akamai Technologies from $76.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday. Susquehanna decreased their price target on Akamai Technologies from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday. Finally, Evercore ISI reissued an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research note on Tuesday, December 17th. One 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.40.

Akamai Technologies Stock Performance

Shares of Akamai Technologies stock traded down $15.71 during trading on Friday, hitting $82.32. 8,376,693 shares of the stock were exchanged, compared to its average volume of 1,933,814. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. The stock’s fifty day moving average is $96.60 and its 200 day moving average is $97.96. The stock has a market cap of $12.37 billion, a PE ratio of 24.38, a P/E/G ratio of 3.58 and a beta of 0.65. Akamai Technologies has a 12 month low of $82.15 and a 12 month high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results 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). Akamai Technologies had a net margin of 13.27% and a return on equity of 14.63%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. As a group, sell-side analysts anticipate that Akamai Technologies will post 4.28 EPS for the current 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 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 transaction, the executive vice president now directly owns 23,104 shares of the company’s stock, valued at $2,115,633.28. The trade was a 14.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the transaction, the director now directly owns 15,719 shares in the company, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their ownership of the stock. 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

Several hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its holdings in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares in the last quarter. Itau Unibanco Holding S.A. grew its holdings in 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 acquiring an additional 234 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Akamai Technologies during the fourth quarter valued at approximately $49,000. Bruce G. Allen Investments LLC boosted its position in 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 valued at $53,000 after acquiring an additional 155 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Akamai Technologies during the 4th quarter valued at $57,000. Hedge funds and other 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.