Akamai Technologies (NASDAQ:AKAM) Price Target Raised to $89.00

by · The Cerbat Gem

Akamai Technologies (NASDAQ:AKAM – Free Report) had its price target increased by Piper Sandler from $86.00 to $89.00 in a research report released on Monday,Benzinga reports. The brokerage currently has a neutral rating on the technology infrastructure company’s stock.

Several other analysts have also issued reports on AKAM. TD Cowen boosted their price objective on shares of Akamai Technologies from $98.00 to $104.00 and gave the company a “hold” rating in a report on Thursday, November 13th. Scotiabank dropped their target price on shares of Akamai Technologies from $95.00 to $94.00 and set a “hold” rating for the company in a report on Friday, November 7th. HSBC raised their price target on Akamai Technologies from $130.00 to $134.00 in a research report on Monday, November 10th. Royal Bank Of Canada boosted their price target on shares of Akamai Technologies from $80.00 to $90.00 and gave the stock a “sector perform” rating in a research note on Monday. Finally, Citigroup increased their price target on shares of Akamai Technologies from $85.00 to $88.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $92.89.

Check Out Our Latest Research Report on AKAM

Akamai Technologies Stock Down 0.6%

NASDAQ AKAM opened at $88.18 on Monday. Akamai Technologies has a 52 week low of $67.51 and a 52 week high of $103.75. The firm has a market cap of $12.69 billion, a PE ratio of 25.86, a P/E/G ratio of 3.20 and a beta of 0.68. The business’s fifty day simple moving average is $85.99 and its 200-day simple moving average is $80.05. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.87.

Akamai Technologies (NASDAQ:AKAM – Get Free Report) last posted its earnings results on Thursday, November 6th. The technology infrastructure company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.22. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. Akamai Technologies had a net margin of 12.26% and a return on equity of 14.16%. Akamai Technologies’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.59 EPS. Akamai Technologies has set its FY 2025 guidance at 6.930-7.130 EPS and its Q4 2025 guidance at 1.650-1.850 EPS. As a group, equities analysts anticipate that Akamai Technologies will post 4.6 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Mani Sundaram sold 10,438 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $89.25, for a total transaction of $931,591.50. Following the sale, the executive vice president directly owned 13,550 shares in the company, valued at approximately $1,209,337.50. This represents a 43.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward J. Mcgowan sold 6,560 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $88.03, for a total transaction of $577,476.80. Following the completion of the sale, the chief financial officer directly owned 16,442 shares in the company, valued at approximately $1,447,389.26. This trade represents a 28.52% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 23,818 shares of company stock valued at $2,099,904. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Akamai Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DLD Asset Management LP boosted its holdings in shares of Akamai Technologies by 60.0% in the 2nd quarter. DLD Asset Management LP now owns 20,000,000 shares of the technology infrastructure company’s stock valued at $1,595,200,000 after buying an additional 7,500,000 shares in the last quarter. Norges Bank acquired a new position in Akamai Technologies in the second quarter valued at $266,817,000. AQR Capital Management LLC grew its holdings in shares of Akamai Technologies by 522.8% during the third quarter. AQR Capital Management LLC now owns 2,020,346 shares of the technology infrastructure company’s stock worth $153,061,000 after purchasing an additional 1,695,937 shares during the last quarter. Alyeska Investment Group L.P. increased its position in shares of Akamai Technologies by 570.0% during the third quarter. Alyeska Investment Group L.P. now owns 1,634,040 shares of the technology infrastructure company’s stock worth $123,795,000 after purchasing an additional 1,390,167 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Akamai Technologies by 39.9% in the 3rd quarter. Nordea Investment Management AB now owns 3,437,472 shares of the technology infrastructure company’s stock valued at $258,739,000 after purchasing an additional 980,966 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Company Profile

(Get Free Report)

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.

Featured Articles