The price of Akamai Technologies Inc. (NASDAQ:AKAM) shares last traded on Wall Street fell -0.52% to $107.93.
Based on available information, 21 analysts follow Akamai Technologies Inc. (NASDAQ:AKAM). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $145.00 and a low of $74.00, we find $112.00. Given the previous closing price of $108.49, this indicates a potential upside of 3.24 percent. AKAM stock price is now 8.34% away from the 50-day moving average and 22.70% away from the 200-day moving average. The market capitalization of the company currently stands at $16.53B.
Among analysts, 10 rate the stock a hold while 8 rate it a buy. Brokers who have rated the stock have averaged $108.87 as their price target over the next twelve months.
With the price target of $145, BofA Securities recently initiated with Buy rating for Akamai Technologies Inc. (NASDAQ: AKAM).
In other news, McGowan Edward J, Chief Financial Officer sold 2,456 shares of the company’s stock on Sep 18. The stock was sold for $255,228 at an average price of $103.92. Upon completion of the transaction, the Chief Financial Officer now directly owns 15,712 shares in the company, valued at $1.7 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 15, Chief Financial Officer McGowan Edward J sold 8,640 shares of the business’s stock. A total of $911,088 was realized by selling the stock at an average price of $105.45. This leaves the insider owning 18,168 shares of the company worth $1.96 million. Insiders disposed of 201,289 shares of company stock worth roughly $21.73 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 LOS ANGELES CAPITAL MANAGEMENT LLC during the first quarter worth $35,500,000. NISHKAMA CAPITAL, LLC invested $25,566,000 in shares of AKAM during the first quarter. In the first quarter, TWINBEECH CAPITAL LP acquired a new stake in Akamai Technologies Inc. valued at approximately $23,204,000. WALLEYE TRADING LLC acquired a new stake in AKAM for approximately $17,575,000. GTS SECURITIES LLC purchased a new stake in AKAM valued at around $8,795,000 in the second quarter. In total, there are 991 active investors with 95.40% ownership of the company’s stock.
A candlestick chart of Akamai Technologies Inc. (NASDAQ: AKAM) showed a price of $107.66 on Thursday morning. During the past 12 months, Akamai Technologies Inc. has had a low of $70.65 and a high of $109.05. As of last week, the company has a debt-to-equity ratio of 0.54, 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 $18.95B, which is based on a 33.07 price-to-earnings ratio, a 3.41 price-to-earnings-growth ratio, and a beta of 0.76. The fifty day moving average price for AKAM is $99.96 and a two-hundred day moving average price translates $88.03 for the stock.
The latest earnings results from Akamai Technologies Inc. (NASDAQ: AKAM) was released for Jun, 2023. The net profit margin was 14.00% and return on equity was 12.00% for AKAM. The company reported revenue of $935.72 million for the quarter, compared to $903.33 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.59 percent.
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.
