Akamai Technologies’ (AKAM) “Outperform” Rating Reaffirmed at Evercore ISI

Akamai Technologies (NASDAQ:AKAM)‘s stock had its “outperform” rating reiterated by equities researchers at Evercore ISI in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $110.00 target price on the technology infrastructure company’s stock. Evercore ISI’s price objective indicates a potential upside of 16.87% from the stock’s current price.

Several other research firms have also recently issued reports on AKAM. Scotiabank decreased their price target on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research note on Friday, November 8th. Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Robert W. Baird dropped their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Tigress Financial reissued a “strong-buy” rating and set a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. Finally, UBS Group initiated coverage on Akamai Technologies in a report on Monday. They issued a “neutral” rating and a $110.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $116.85.

Akamai Technologies Stock Down 3.3 %

AKAM opened at $94.12 on Tuesday. The business has a 50 day moving average price of $97.86 and a two-hundred day moving average price of $96.63. Akamai Technologies has a 52 week low of $84.70 and a 52 week high of $129.17. The company has a market cap of $14.14 billion, a PE ratio of 27.85, a P/E/G ratio of 3.83 and a beta of 0.65. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50.

Insider Activity at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of the 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 transaction, the director now directly owns 15,719 shares of the company’s stock, valued at $1,467,840.22. This represents a 5.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the transaction, the chief financial officer now owns 12,716 shares in the company, valued at approximately $1,255,196.36. The trade was a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,282 shares of company stock valued at $1,733,716 over the last three months. 2.00% of the stock is owned by insiders.

Institutional Trading of Akamai Technologies

Several hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC grew its position in Akamai Technologies by 2.0% during the third quarter. V Square Quantitative Management LLC now owns 5,113 shares of the technology infrastructure company’s stock worth $516,000 after buying an additional 102 shares in the last quarter. Empirical Finance LLC boosted its position in Akamai Technologies by 2.0% during the third quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock valued at $538,000 after buying an additional 103 shares during the period. Van ECK Associates Corp increased its stake in Akamai Technologies by 6.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,836 shares of the technology infrastructure company’s stock worth $189,000 after purchasing an additional 105 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 114 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in shares of Akamai Technologies by 1.3% during the third quarter. D.A. Davidson & CO. now owns 8,860 shares of the technology infrastructure company’s stock worth $894,000 after purchasing an additional 115 shares during the period. 94.28% of the stock is currently owned by 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.