Akamai Technologies (NASDAQ:AKAM) Price Target Raised to $115.00 at Oppenheimer

Akamai Technologies (NASDAQ:AKAM) had its price target boosted by stock analysts at Oppenheimer from $100.00 to $115.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm presently has an “outperform” rating on the technology infrastructure company’s stock. Oppenheimer’s price objective points to a potential upside of 25.70% from the stock’s previous close.

Several other equities analysts have also weighed in on AKAM. Weiss Ratings restated a “hold (c)” rating on shares of Akamai Technologies in a report on Monday, December 29th. President Capital upped their target price on Akamai Technologies from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Jefferies Financial Group downgraded Akamai Technologies to an “underperform” rating in a report on Monday, December 15th. Raymond James Financial upped their price target on Akamai Technologies from $84.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, November 10th. Finally, The Goldman Sachs Group increased their price objective on shares of Akamai Technologies from $67.00 to $69.00 and gave the company a “sell” rating in a research report on Friday, November 7th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $96.94.

Akamai Technologies Price Performance

Akamai Technologies stock opened at $91.49 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.28 and a current ratio of 2.28. The company has a market cap of $13.16 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.32 and a beta of 0.70. Akamai Technologies has a 1 year low of $67.51 and a 1 year high of $104.97. The firm has a 50 day moving average price of $90.11 and a 200 day moving average price of $82.20.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.22. Akamai Technologies had a net margin of 12.26% and a return on equity of 14.16%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the company earned $1.59 EPS. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. Sell-side analysts predict that Akamai Technologies will post 4.6 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Paul C. Joseph sold 5,000 shares of the company’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $90.17, for a total value of $450,850.00. Following the sale, the executive vice president directly owned 17,513 shares of the company’s stock, valued at $1,579,147.21. This represents a 22.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Adam Karon sold 3,320 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $87.30, for a total transaction of $289,836.00. Following the transaction, the chief operating officer directly owned 7,785 shares of the company’s stock, valued at approximately $679,630.50. This represents a 29.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 28,818 shares of company stock valued at $2,589,254. 2.00% of the stock is owned by insiders.

Institutional Trading of Akamai Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of AKAM. Aviance Capital Partners LLC grew its position in shares of Akamai Technologies by 5.9% in the 4th quarter. Aviance Capital Partners LLC now owns 31,921 shares of the technology infrastructure company’s stock worth $2,785,000 after acquiring an additional 1,787 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Akamai Technologies by 3.4% during the 4th quarter. ProShare Advisors LLC now owns 41,647 shares of the technology infrastructure company’s stock valued at $3,634,000 after acquiring an additional 1,382 shares in the last quarter. HighTower Advisors LLC lifted its stake in Akamai Technologies by 132.4% during the fourth quarter. HighTower Advisors LLC now owns 25,960 shares of the technology infrastructure company’s stock worth $2,265,000 after purchasing an additional 14,792 shares during the last quarter. North Dakota State Investment Board acquired a new position in Akamai Technologies in the fourth quarter worth $429,000. Finally, Abacus Wealth Partners LLC bought a new stake in Akamai Technologies during the fourth quarter valued at $309,000. 94.28% of the stock is owned by institutional investors.

About Akamai Technologies

Akamai Technologies, Inc is a leading provider of content delivery network (CDN) services and cloud security solutions designed to optimize and safeguard digital experiences. Leveraging a globally distributed platform, the company accelerates web and mobile content delivery for enterprises, media companies, e-commerce platforms and government agencies. Its edge computing architecture brings processing power closer to end users, reducing latency and improving application performance across geographies.

The company’s core offerings include content acceleration, web and mobile performance optimization, media delivery, and a suite of cybersecurity solutions that protect against DDoS attacks, application-layer threats and bot-driven fraud.