Akamai Technologies (NASDAQ:AKAM) Price Target Raised to $125.00 at DA Davidson

by · The Markets Daily

Akamai Technologies (NASDAQ:AKAM – Free Report) had its price objective boosted by DA Davidson from $115.00 to $125.00 in a report issued on Thursday morning,MarketScreener reports. DA Davidson currently has a buy rating on the technology infrastructure company’s stock.

Other research analysts have also recently issued research reports about the stock. Bank of America dropped their price objective on shares of Akamai Technologies from $100.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, October 20th. Wall Street Zen cut shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Royal Bank Of Canada upped their price objective on Akamai Technologies from $80.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Monday, January 5th. Scotiabank increased their price objective on Akamai Technologies from $94.00 to $105.00 and gave the company a “sector outperform” rating in a research note on Friday, January 9th. Finally, President Capital boosted their target price on Akamai Technologies from $104.00 to $116.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $97.50.

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Akamai Technologies Price Performance

AKAM opened at $105.42 on Thursday. The stock’s 50-day moving average price is $91.01 and its 200 day moving average price is $82.78. Akamai Technologies has a 12-month low of $67.51 and a 12-month high of $106.80. The firm has a market cap of $15.17 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 2.92 and a beta of 0.70. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.87.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, EVP Mani Sundaram sold 10,438 shares of the firm’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 owned 13,550 shares of the company’s stock, valued at approximately $1,209,337.50. This trade represents a 43.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul C. Joseph sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $90.17, for a total transaction of $450,850.00. Following the sale, the executive vice president owned 17,513 shares of the company’s stock, valued at $1,579,147.21. This represents a 22.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 28,818 shares of company stock worth $2,589,254. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Akamai Technologies

Several large investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd grew its holdings in shares of Akamai Technologies by 124.0% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 20,365 shares of the technology infrastructure company’s stock worth $1,777,000 after purchasing an additional 11,273 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in shares of Akamai Technologies by 183.1% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 78,134 shares of the technology infrastructure company’s stock worth $6,817,000 after acquiring an additional 50,532 shares during the last quarter. Gagnon Securities LLC purchased a new stake in Akamai Technologies in the 4th quarter valued at $220,000. Advisors Asset Management Inc. boosted its stake in Akamai Technologies by 38.8% during the 4th quarter. Advisors Asset Management Inc. now owns 32,448 shares of the technology infrastructure company’s stock worth $2,831,000 after purchasing an additional 9,067 shares during the period. Finally, CI Investments Inc. grew its position in Akamai Technologies by 27.4% during the 4th quarter. CI Investments Inc. now owns 2,324 shares of the technology infrastructure company’s stock worth $203,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Akamai Technologies Company Profile

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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.

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