Akamai Technologies (NASDAQ:AKAM) Rating Lowered to “Hold” at TD Cowen

Akamai Technologies (NASDAQ:AKAM) was downgraded by equities research analysts at TD Cowen from a “buy” rating to a “hold” rating in a note issued to investors on Friday,Finviz reports. They presently have a $98.00 target price on the technology infrastructure company’s stock, down from their prior target price of $125.00. TD Cowen’s target price would indicate a potential downside of 0.05% from the company’s current price.

Several other equities analysts also recently commented on the company. Robert W. Baird decreased their target price on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. UBS Group began coverage on Akamai Technologies in a research note on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target for the company. Scotiabank cut their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research note on Monday, November 11th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research note on Tuesday, December 17th. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies currently has an average rating of “Moderate Buy” and an average target price of $114.26.

Akamai Technologies Price Performance

Shares of NASDAQ AKAM opened at $98.05 on Friday. The business’s 50 day moving average price is $96.60 and its two-hundred day moving average price is $97.96. The company has a market cap of $14.73 billion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 3.55 and a beta of 0.65. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies has a twelve month low of $84.70 and a twelve month high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.63% and a net margin of 13.27%. On average, analysts predict that Akamai Technologies will post 4.28 EPS for the current year.

Insider Activity

In related news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the sale, the director now directly owns 15,719 shares in the company, valued at $1,467,840.22. This represents a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $91.57, for a total value of $366,280.00. Following the completion of the sale, the executive vice president now owns 23,104 shares of the company’s stock, valued at $2,115,633.28. The trade was a 14.76 % 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 worth $1,523,951. Insiders own 1.80% of the company’s stock.

Institutional Trading of Akamai Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its holdings in Akamai Technologies by 14.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 102,175 shares of the technology infrastructure company’s stock worth $10,315,000 after acquiring an additional 12,913 shares during the period. Signaturefd LLC grew its holdings in Akamai Technologies by 10.1% during the 3rd quarter. Signaturefd LLC now owns 1,402 shares of the technology infrastructure company’s stock worth $142,000 after acquiring an additional 129 shares during the period. Eastern Bank acquired a new stake in Akamai Technologies during the 3rd quarter worth about $71,000. Private Advisor Group LLC grew its holdings in Akamai Technologies by 8.0% during the 3rd quarter. Private Advisor Group LLC now owns 6,477 shares of the technology infrastructure company’s stock worth $654,000 after acquiring an additional 477 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in Akamai Technologies during the 3rd quarter worth about $30,470,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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.