Akamai Technologies (NASDAQ:AKAM) Price Target Lowered to $107.00 at Scotiabank

Akamai Technologies (NASDAQ:AKAM) had its target price trimmed by Scotiabank from $115.00 to $107.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a sector outperform rating on the technology infrastructure company’s stock.

A number of other equities research analysts have also recently commented on the company. Robert W. Baird dropped 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. Raymond James dropped their price objective on Akamai Technologies from $115.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday. Citigroup reduced their target price on Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Bank of America cut shares of Akamai Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $100.00 in a research note on Friday. Finally, Susquehanna reduced 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 report on Friday. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $107.90.

Akamai Technologies Stock Down 21.7 %

Shares of AKAM stock opened at $76.73 on Friday. Akamai Technologies has a twelve month low of $76.50 and a twelve month high of $113.36. The stock has a market cap of $11.53 billion, a P/E ratio of 22.70, a P/E/G ratio of 3.58 and a beta of 0.65. The stock has a 50 day moving average of $96.15 and a 200 day moving average of $97.86. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a net margin of 13.27% and a return on equity of 14.63%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. As a group, sell-side analysts expect 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 company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the sale, the director now directly owns 15,719 shares of the company’s stock, valued at $1,467,840.22. This represents a 5.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the sale, the chief financial officer now owns 12,716 shares in the company, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,782 shares of company stock valued at $1,523,951. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Akamai Technologies

Large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Akamai Technologies by 14.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 102,175 shares of the technology infrastructure company’s stock worth $10,315,000 after buying 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 in the last quarter. Eastern Bank acquired a new position in Akamai Technologies during the 3rd quarter worth approximately $71,000. Private Advisor Group LLC increased its position in shares of Akamai Technologies by 8.0% in the 3rd quarter. Private Advisor Group LLC now owns 6,477 shares of the technology infrastructure company’s stock valued at $654,000 after purchasing an additional 477 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Akamai Technologies in the 3rd quarter valued at $30,470,000. 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.