Akamai Technologies (NASDAQ:AKAM) Price Target Cut to $94.00 by Analysts at Scotiabank

Akamai Technologies (NASDAQ:AKAM) had its price target trimmed by Scotiabank from $95.00 to $94.00 in a research note released on Friday, Marketbeat reports. They currently have a hold rating on the technology infrastructure company’s stock.

A number of other research firms have also weighed in on AKAM. Zacks Research raised shares of Akamai Technologies to a “hold” rating in a report on Monday, August 11th. Wall Street Zen upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Raymond James Financial cut their price objective on Akamai Technologies from $110.00 to $84.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. The Goldman Sachs Group assumed coverage on Akamai Technologies in a research report on Wednesday, August 13th. They issued a “sell” rating and a $67.00 target price on the stock. Finally, Weiss Ratings upgraded Akamai Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $93.80.

Akamai Technologies Stock Up 14.7%

NASDAQ AKAM traded up $10.74 during mid-day trading on Friday, reaching $83.74. The stock had a trading volume of 9,626,638 shares, compared to its average volume of 2,280,403. Akamai Technologies has a 1 year low of $67.51 and a 1 year high of $103.75. The stock has a market cap of $12.01 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 3.49 and a beta of 0.72. The company has a fifty day moving average price of $75.93 and a 200 day moving average price of $77.23. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.31 and a quick ratio of 2.31.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, November 6th. The technology infrastructure company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.64 by $0.22. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Akamai Technologies had a return on equity of 14.26% and a net margin of 10.40%.Akamai Technologies’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company earned $1.59 EPS. Akamai Technologies has set its FY 2025 guidance at 6.930-7.130 EPS. Q4 2025 guidance at 1.650-1.850 EPS. On average, research analysts expect that Akamai Technologies will post 4.6 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Robert Blumofe sold 3,500 shares of Akamai Technologies stock in a transaction on Friday, November 7th. The stock was sold at an average price of $86.00, for a total value of $301,000.00. Following the transaction, the chief technology officer directly owned 24,410 shares in the company, valued at approximately $2,099,260. This trade represents a 12.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Aaron Ahola sold 4,000 shares of Akamai Technologies stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $75.76, for a total value of $303,040.00. Following the completion of the transaction, the executive vice president owned 21,211 shares in the company, valued at $1,606,945.36. This trade represents a 15.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 15,500 shares of company stock worth $1,218,290. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Paralel Advisors LLC increased its holdings in Akamai Technologies by 43.8% in the second quarter. Paralel Advisors LLC now owns 33,188 shares of the technology infrastructure company’s stock valued at $2,647,000 after buying an additional 10,110 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Akamai Technologies by 1,663.2% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,027,175 shares of the technology infrastructure company’s stock valued at $81,927,000 after purchasing an additional 968,919 shares in the last quarter. Polianta Ltd acquired a new position in Akamai Technologies in the 2nd quarter worth about $1,236,000. MBB Public Markets I LLC purchased a new position in Akamai Technologies during the first quarter worth approximately $311,000. Finally, Inspire Investing LLC purchased a new position in Akamai Technologies during the first quarter worth approximately $313,000. 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.