Akamai Technologies (NASDAQ:AKAM) Rating Lowered to “Neutral” at Piper Sandler

Akamai Technologies (NASDAQ:AKAM) was downgraded by research analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued to investors on Friday,Finviz reports. They presently have a $100.00 price objective on the technology infrastructure company’s stock, down from their previous price objective of $112.00. Piper Sandler’s price target indicates a potential upside of 1.99% from the company’s previous close.

Several other brokerages also recently weighed in on AKAM. UBS Group began coverage on shares of Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 target price on the stock. Scotiabank cut their target price on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Robert W. Baird cut their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Evercore ISI reaffirmed an “outperform” rating and set a $110.00 target price on shares of Akamai Technologies in a research note on Tuesday, December 17th. Finally, TD Cowen downgraded shares of Akamai Technologies from a “buy” rating to a “hold” rating and cut their target price for the stock from $125.00 to $98.00 in a research note on Friday. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Akamai Technologies currently has an average rating of “Moderate Buy” and an average target price of $114.26.

Akamai Technologies Stock Performance

Shares of AKAM stock opened at $98.05 on Friday. The firm’s 50 day moving average price is $96.60 and its 200-day moving average price is $97.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33. Akamai Technologies has a one year low of $84.70 and a one year high of $113.36. The firm has a market cap of $14.73 billion, a P/E ratio of 29.01, a P/E/G ratio of 3.55 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Thursday, February 20th. The technology infrastructure company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.63% and a net margin of 13.27%. As a group, equities research analysts predict that Akamai Technologies will post 4.28 EPS for the current year.

Insider Activity at Akamai Technologies

In related news, 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 transaction of $366,280.00. Following the completion of the sale, the executive vice president now owns 23,104 shares in the company, valued at $2,115,633.28. This represents a 14.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,782 shares of company stock valued at $1,523,951 in the last ninety days. Insiders own 1.80% of the company’s stock.

Institutional Trading of Akamai Technologies

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its stake in shares of Akamai Technologies by 85.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 114 shares during the period. Itau Unibanco Holding S.A. lifted its stake in shares of Akamai Technologies by 99.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 469 shares of the technology infrastructure company’s stock worth $45,000 after acquiring an additional 234 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Akamai Technologies in the 4th quarter worth $49,000. Bruce G. Allen Investments LLC lifted its stake in shares of Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock worth $53,000 after acquiring an additional 155 shares during the period. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Akamai Technologies in the 4th quarter worth $57,000. 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.