TD Cowen Increases Akamai Technologies (NASDAQ:AKAM) Price Target to $104.00

Akamai Technologies (NASDAQ:AKAM) had its target price upped by stock analysts at TD Cowen from $98.00 to $104.00 in a research note issued on Thursday,MarketScreener reports. The firm currently has a “hold” rating on the technology infrastructure company’s stock. TD Cowen’s price objective points to a potential upside of 14.59% from the stock’s previous close.

Several other equities analysts have also weighed in on the company. Scotiabank cut their target price on Akamai Technologies from $95.00 to $94.00 and set a “hold” rating on the stock in a report on Friday, November 7th. DA Davidson reiterated a “buy” rating and issued a $115.00 target price on shares of Akamai Technologies in a research note on Thursday, October 16th. HSBC boosted their target price on shares of Akamai Technologies from $130.00 to $134.00 in a research report on Monday. Raymond James Financial raised their price target on Akamai Technologies from $84.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday. Finally, President Capital boosted their price objective on Akamai Technologies from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Six equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $93.63.

Akamai Technologies Stock Up 0.7%

Shares of AKAM traded up $0.66 during midday trading on Thursday, reaching $90.76. 511,366 shares of the stock were exchanged, compared to its average volume of 2,310,354. The company has a market cap of $13.06 billion, a price-to-earnings ratio of 32.17, a P/E/G ratio of 3.49 and a beta of 0.72. The firm has a 50 day simple moving average of $76.61 and a 200-day simple moving average of $77.49. Akamai Technologies has a 12-month low of $67.51 and a 12-month high of $103.75. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.92.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.22. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. Akamai Technologies had a net margin of 10.40% and a return on equity of 14.26%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $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. Research analysts forecast 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 company’s 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 transaction, the executive vice president directly owned 27,349 shares in the company, valued at approximately $2,096,300.85. This represents a 15.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Aaron Ahola sold 4,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $75.76, for a total transaction of $303,040.00. Following the sale, the executive vice president owned 21,211 shares of the company’s stock, valued at $1,606,945.36. The trade was a 15.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 15,500 shares of company stock valued at $1,218,290. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Akamai Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. DLD Asset Management LP grew its stake in shares of Akamai Technologies by 60.0% during the 2nd quarter. DLD Asset Management LP now owns 20,000,000 shares of the technology infrastructure company’s stock worth $1,595,200,000 after acquiring an additional 7,500,000 shares in the last quarter. Norges Bank acquired a new stake in shares of Akamai Technologies in the second quarter valued at approximately $266,817,000. Alyeska Investment Group L.P. increased its holdings in shares of Akamai Technologies by 1,001.4% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,753,400 shares of the technology infrastructure company’s stock worth $141,149,000 after acquiring an additional 1,594,206 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Akamai Technologies by 39.9% in the third quarter. Nordea Investment Management AB now owns 3,437,472 shares of the technology infrastructure company’s stock valued at $258,739,000 after purchasing an additional 980,966 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of 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 buying an additional 968,919 shares during the period. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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.