Susquehanna Lowers Akamai Technologies (NASDAQ:AKAM) Price Target to $105.00

Akamai Technologies (NASDAQ:AKAM) had its price target reduced by research analysts at Susquehanna from $110.00 to $105.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “positive” rating on the technology infrastructure company’s stock. Susquehanna’s price objective indicates a potential upside of 26.83% from the stock’s previous close.

Several other analysts have also recently weighed in on AKAM. Citigroup dropped their price objective on shares of Akamai Technologies from $104.00 to $102.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. UBS Group initiated 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. Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research report on Monday, December 2nd. Evercore ISI reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Finally, TD Cowen lowered Akamai Technologies from a “buy” rating to a “hold” rating and reduced their target price for the stock from $125.00 to $98.00 in a report on Friday. Ten analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Akamai Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $110.84.

Akamai Technologies Stock Performance

AKAM traded down $15.24 on Friday, reaching $82.79. The company had a trading volume of 4,733,173 shares, compared to its average volume of 1,814,444. The company’s fifty day moving average is $96.60 and its 200 day moving average 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. The stock has a market cap of $12.44 billion, a P/E ratio of 24.56, a P/E/G ratio of 3.58 and a beta of 0.65. Akamai Technologies has a fifty-two week low of $82.67 and a fifty-two week high of $113.36.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly 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). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Akamai Technologies had a net margin of 13.27% and a return on equity of 14.63%. As a group, analysts predict that Akamai Technologies will post 4.28 earnings per share for the current fiscal year.

Insider Transactions at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies 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 in the company, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the transaction, the chief financial officer now owns 12,716 shares of the company’s stock, 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. Over the last ninety days, insiders sold 15,782 shares of company stock worth $1,523,951. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Akamai Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise boosted its holdings in Akamai Technologies by 86.9% in the third quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock valued at $4,481,000 after acquiring an additional 20,633 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Akamai Technologies by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after purchasing an additional 6,785 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Akamai Technologies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after buying an additional 11,272 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in Akamai Technologies by 32.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock worth $19,018,000 after buying an additional 46,335 shares during the last quarter. Finally, Cascade Investment Advisors Inc. acquired a new position in Akamai Technologies in the fourth quarter valued at $827,000. 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.