Stocks of Akamai Technologies Inc. (NASDAQ:AKAM) traded higher last session on Wall Street, down -0.56% to $93.31.
According to the data, Akamai Technologies Inc. (NASDAQ:AKAM) has 21 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $115.00 and a low of $67.00, we find $94.00. Given the previous closing price of $93.84, this indicates a potential upside of 0.17 percent. AKAM stock price is now 12.72% away from the 50-day moving average and 10.22% away from the 200-day moving average. The market capitalization of the company currently stands at $13.89B.
A total of 11 analysts have issued a hold rating and 7 have given it a buy rating. Brokers who have rated the stock have averaged $93.53 as their price target over the next twelve months.
In other news, LEIGHTON F THOMSON, Chief Executive Officer bought 267 shares of the company’s stock on Jun 06. The stock was bought for $25,047 at an average price of $93.81. Upon completion of the transaction, the Chief Executive Officer now directly owns 89,568 shares in the company, valued at $8.36 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 05, Chief Executive Officer LEIGHTON F THOMSON bought 269 shares of the business’s stock. A total of $25,012 was incurred on buying the stock at an average price of $92.98. This leaves the insider owning 89,301 shares of the company worth $8.33 million. Insiders disposed of 483,995 shares of company stock worth roughly $45.16 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AKAM stock. A new stake in Akamai Technologies Inc. shares was purchased by VOLORIDGE INVESTMENT MANAGEMENT, LLC during the first quarter worth $60,378,000. BALYASNY ASSET MANAGEMENT L.P. invested $27,748,000 in shares of AKAM during the first quarter. In the first quarter, INVENOMIC CAPITAL MANAGEMENT LP acquired a new stake in Akamai Technologies Inc. valued at approximately $17,107,000. CAAS CAPITAL MANAGEMENT LP acquired a new stake in AKAM for approximately $9,637,000. HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND purchased a new stake in AKAM valued at around $8,547,000 in the second quarter. In total, there are 1,032 active investors with 95.40% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $93.82 for Akamai Technologies Inc. (NASDAQ: AKAM). During the past 12 months, Akamai Technologies Inc. has had a low of $70.65 and a high of $101.86. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 2.00, and a quick ratio of 2.00. According to the stock market information, the enterprise value for the company is $16.68B, which is based on a 29.49 price-to-earnings ratio, a 3.69 price-to-earnings-growth ratio, and a beta of 0.80. The fifty day moving average price for AKAM is $83.12 and a two-hundred day moving average price translates $84.64 for the stock.
The latest earnings results from Akamai Technologies Inc. (NASDAQ: AKAM) was released for Mar, 2023. According to the Software – Infrastructure Company, earnings per share came in at $1.4, beating analysts’ expectations of $1.32 by 0.08. This compares to $0.82 EPS in the same period last year. The net profit margin was 13.80% and return on equity was 11.80% for AKAM. The company reported revenue of $915.7 million for the quarter, compared to $903.65 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1.33 percent. For the current quarter, analysts expect AKAM to generate $929.69M in revenue.
Akamai Technologies Inc.(AKAM) Company Profile
Akamai Technologies, Inc. provides cloud services for securing, delivering, and computing content, applications, and software over the internet 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. It also provides web and mobile performance solutions to enable dynamic websites and applications; media delivery solutions, including video streaming and video player services, game and software delivery, broadcast operations, authoritative domain name system, resolution, and data and analytics; and cloud computing services, such as compute, storage, networking, database, and container management services to build, deploy, and secure applications and workloads. In addition, the company offers carrier offerings, including cybersecurity protection, parental controls, DNS infrastructure and content delivery solutions; and an array of service and support to assist customers with integrating, configuring, optimizing, and managing its offerings. It sells its solutions through direct sales and service organizations, as well as through various channel partners. The company was incorporated in 1998 and is headquartered in Cambridge, Massachusetts.