Scotiabank Has Lowered Expectations for Akamai Technologies (NASDAQ:AKAM) Stock Price

Akamai Technologies (NASDAQ:AKAM) had its price target cut by research analysts at Scotiabank from $95.00 to $94.00 in a report issued on Friday,MarketScreener reports. The brokerage currently has a “sector perform” rating on the technology infrastructure company’s stock. Scotiabank’s price target points to a potential upside of 13.45% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Morgan Stanley lowered shares of Akamai Technologies from an “equal weight” rating to an “underweight” rating and set a $85.00 target price on the stock. in a report on Tuesday, August 5th. Wall Street Zen raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Zacks Research raised Akamai Technologies to a “hold” rating in a report on Monday, August 11th. DA Davidson reiterated a “buy” rating and set a $115.00 price target on shares of Akamai Technologies in a research note on Thursday, October 16th. Finally, Weiss Ratings raised Akamai Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $93.70.

Akamai Technologies Stock Up 13.5%

AKAM stock traded up $9.86 on Friday, hitting $82.86. 2,925,202 shares of the company’s stock were exchanged, compared to its average volume of 2,247,965. Akamai Technologies has a 12-month low of $67.51 and a 12-month high of $103.75. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.31 and a current ratio of 2.31. The stock has a market cap of $11.88 billion, a P/E ratio of 29.39, a price-to-earnings-growth ratio of 3.49 and a beta of 0.72. The firm has a 50 day moving average price of $75.84 and a two-hundred day moving average price of $77.15.

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

Insider Activity

In related news, EVP Paul C. Joseph sold 5,000 shares of the stock in a transaction that occurred on 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 sale, the executive vice president owned 27,349 shares of the company’s stock, valued at approximately $2,096,300.85. This represents a 15.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Robert Blumofe sold 3,000 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $77.00, for a total transaction of $231,000.00. Following the completion of the transaction, the chief technology officer directly owned 27,910 shares in the company, valued at approximately $2,149,070. This represents a 9.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 12,000 shares of company stock valued at $917,290 over the last quarter. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Akamai Technologies

Several hedge funds have recently modified their holdings of AKAM. Whittier Trust Co. of Nevada Inc. grew its position in Akamai Technologies by 295.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 336 shares of the technology infrastructure company’s stock valued at $26,000 after acquiring an additional 251 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Akamai Technologies by 130.0% in the third quarter. TD Waterhouse Canada Inc. now owns 345 shares of the technology infrastructure company’s stock valued at $26,000 after purchasing an additional 195 shares during the period. Smartleaf Asset Management LLC grew its holdings in Akamai Technologies by 566.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 340 shares of the technology infrastructure company’s stock valued at $26,000 after purchasing an additional 289 shares in the last quarter. WPG Advisers LLC purchased a new stake in Akamai Technologies during the 1st quarter worth $27,000. Finally, Wolff Wiese Magana LLC lifted its holdings in Akamai Technologies by 497.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 400 shares of the technology infrastructure company’s stock worth $30,000 after buying an additional 333 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

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.