Akamai Technologies (NASDAQ:AKAM) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Akamai Technologies (NASDAQ:AKAM) from a hold rating to a buy rating in a report issued on Monday morning.

Other analysts have also recently issued reports about the stock. Morgan Stanley lowered their target price on shares of Akamai Technologies from $102.00 to $90.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Susquehanna lowered their price objective on shares of Akamai Technologies from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, February 21st. Citigroup dropped their price objective on shares of Akamai Technologies from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Craig Hallum lowered Akamai Technologies from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a research note on Friday, February 21st. Finally, Scotiabank lowered their price target on Akamai Technologies from $107.00 to $105.00 and set a “sector outperform” rating for the company in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.26.

Akamai Technologies Stock Down 1.8%

Akamai Technologies stock opened at $77.51 on Monday. Akamai Technologies has a 1-year low of $67.51 and a 1-year high of $106.80. The business has a fifty day moving average price of $78.49 and a 200-day moving average price of $88.95. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.23 and a quick ratio of 1.33. The stock has a market capitalization of $11.33 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 2.74 and a beta of 0.82.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Thursday, May 8th. The technology infrastructure company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.12. Akamai Technologies had a return on equity of 14.35% and a net margin of 12.65%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the business posted $1.64 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts forecast that Akamai Technologies will post 4.6 EPS for the current fiscal year.

Insider Buying and Selling at Akamai Technologies

In other news, CEO F Thomson Leighton acquired 37,670 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $79.58 per share, with a total value of $2,997,778.60. Following the completion of the acquisition, the chief executive officer now owns 137,342 shares of the company’s stock, valued at approximately $10,929,676.36. This represents a 37.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Adam Karon sold 3,927 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $85.02, for a total transaction of $333,873.54. Following the sale, the chief operating officer now directly owns 10,809 shares in the company, valued at approximately $918,981.18. The trade was a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,321 shares of company stock valued at $2,986,916. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Akamai Technologies

A number of hedge funds have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB raised its stake in shares of Akamai Technologies by 54.8% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 438 shares of the technology infrastructure company’s stock worth $35,000 after buying an additional 155 shares during the period. AlphaQuest LLC purchased a new stake in Akamai Technologies in the 1st quarter worth $42,000. Itau Unibanco Holding S.A. raised its position in Akamai Technologies by 99.6% during the fourth 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 during the period. SBI Securities Co. Ltd. purchased a new position in Akamai Technologies during the fourth quarter valued at $49,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Akamai Technologies in the first quarter valued at about $49,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

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.