Akamai Technologies (NASDAQ:AKAM) Price Target Lowered to $94.00 at Scotiabank

Akamai Technologies (NASDAQ:AKAM) had its target price reduced by equities research analysts at Scotiabank from $95.00 to $94.00 in a research report issued on Friday, MarketBeat reports. The firm currently has a “hold” rating on the technology infrastructure company’s stock. Scotiabank’s price objective indicates a potential upside of 12.25% from the company’s previous close.

Several other analysts also recently weighed in on AKAM. Raymond James Financial decreased their target price on Akamai Technologies from $110.00 to $84.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Wall Street Zen raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. The Goldman Sachs Group began coverage on shares of Akamai Technologies in a research note on Wednesday, August 13th. They issued a “sell” rating and a $67.00 price objective on the stock. Weiss Ratings upgraded shares of Akamai Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 24th. Finally, DA Davidson reissued a “buy” rating and issued a $115.00 price target on shares of Akamai Technologies in a report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.80.

Akamai Technologies Stock Performance

NASDAQ:AKAM opened at $83.74 on Friday. Akamai Technologies has a 1 year low of $67.51 and a 1 year high of $103.75. The firm’s fifty day simple moving average is $75.93 and its 200 day simple moving average is $77.23. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $12.01 billion, a PE ratio of 29.70, a PEG ratio of 3.49 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.22. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the business earned $1.59 EPS. The business’s revenue was up 5.0% on a year-over-year basis. Akamai Technologies has set its FY 2025 guidance at 6.930-7.130 EPS. Q4 2025 guidance at 1.650-1.850 EPS. On average, sell-side analysts anticipate that Akamai Technologies will post 4.6 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $76.65, for a total transaction of $383,250.00. Following the completion of the transaction, the executive vice president directly owned 27,349 shares of the company’s stock, valued at approximately $2,096,300.85. This trade represents a 15.46% 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, CTO Robert Blumofe sold 3,500 shares of Akamai Technologies stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $86.00, for a total transaction of $301,000.00. Following the sale, the chief technology officer owned 24,410 shares in the company, valued at approximately $2,099,260. This trade represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 15,500 shares of company stock worth $1,218,290 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AKAM. Paralel Advisors LLC grew its stake in Akamai Technologies by 43.8% during the second quarter. Paralel Advisors LLC now owns 33,188 shares of the technology infrastructure company’s stock worth $2,647,000 after buying an additional 10,110 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Akamai Technologies by 1,663.2% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,027,175 shares of the technology infrastructure company’s stock worth $81,927,000 after acquiring an additional 968,919 shares during the last quarter. Polianta Ltd bought a new stake in Akamai Technologies during the 2nd quarter worth approximately $1,236,000. MBB Public Markets I LLC acquired a new stake in Akamai Technologies during the 1st quarter valued at $311,000. Finally, Inspire Investing LLC bought a new position in Akamai Technologies in the 1st quarter valued at $313,000. Institutional investors and hedge funds 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.