Raymond James Lowers Akamai Technologies (NASDAQ:AKAM) Price Target to $110.00

Akamai Technologies (NASDAQ:AKAM) had its price objective lowered by Raymond James from $115.00 to $110.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology infrastructure company’s stock.

AKAM has been the topic of several other research reports. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Monday, November 11th. Evercore ISI reaffirmed an “outperform” rating and set a $110.00 price objective on shares of Akamai Technologies in a research report on Tuesday, December 17th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a report on Friday. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a report on Monday, December 2nd. Finally, Scotiabank reduced their price objective on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.90.

Akamai Technologies Stock Down 21.7 %

NASDAQ:AKAM opened at $76.73 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. Akamai Technologies has a 1-year low of $76.50 and a 1-year high of $113.36. The company has a 50-day moving average of $96.15 and a 200 day moving average of $97.86. The firm has a market cap of $11.53 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 3.58 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Thursday, February 20th. The technology infrastructure company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.33). Akamai Technologies had a return on equity of 14.63% and a net margin of 13.27%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. As a group, research analysts anticipate that Akamai Technologies will post 4.28 EPS for the current fiscal year.

Insider Activity at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 15,719 shares of the company’s stock, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 12,716 shares in the company, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,782 shares of company stock worth $1,523,951 over the last quarter. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Banque Cantonale Vaudoise grew its stake in shares of Akamai Technologies by 86.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 44,390 shares of the technology infrastructure company’s stock worth $4,481,000 after purchasing an additional 20,633 shares during the period. Principal Financial Group Inc. grew its position in Akamai Technologies by 3.5% during the third quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after buying an additional 6,785 shares during the period. Charles Schwab Investment Management Inc. grew its position in 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 valued at $90,083,000 after buying an additional 11,272 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in Akamai Technologies by 32.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 188,388 shares of the technology infrastructure company’s stock valued at $19,018,000 after buying an additional 46,335 shares in the last quarter. Finally, Cascade Investment Advisors Inc. acquired a new position in shares of Akamai Technologies in the fourth quarter worth about $827,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Company Profile

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.