Akamai Technologies (NASDAQ:AKAM) Receives Outperform Rating from Evercore ISI

Akamai Technologies (NASDAQ:AKAM)‘s stock had its “outperform” rating reissued by Evercore ISI in a research report issued on Tuesday,Benzinga reports. They presently have a $110.00 price objective on the technology infrastructure company’s stock. Evercore ISI’s price objective points to a potential upside of 12.24% from the stock’s current price.

A number of other analysts have also issued reports on the stock. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research report on Monday, December 2nd. 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 decreased their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Tigress Financial reissued a “strong-buy” rating and set a $140.00 target price on shares of Akamai Technologies in a research note on Thursday, August 29th. Finally, Scotiabank dropped their target price on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $116.85.

Akamai Technologies Price Performance

Shares of NASDAQ:AKAM traded up $0.70 on Tuesday, reaching $98.00. 275,961 shares of the company were exchanged, compared to its average volume of 1,669,505. The firm has a market cap of $14.72 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 3.83 and a beta of 0.65. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average of $98.12 and a 200-day moving average of $96.62. Akamai Technologies has a 1-year low of $84.70 and a 1-year high of $129.17.

Insider Activity

In other news, EVP Paul C. Joseph sold 4,000 shares of Akamai Technologies stock in a transaction on Friday, November 15th. The stock was sold at an average price of $88.63, for a total value of $354,520.00. Following the transaction, the executive vice president now directly owns 26,703 shares in the company, valued at approximately $2,366,686.89. This trade represents a 13.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of Akamai Technologies stock in a transaction dated 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 sale, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,282 shares of company stock valued at $1,733,716. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Akamai Technologies

A number of institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in Akamai Technologies by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock worth $156,088,000 after acquiring an additional 347,626 shares during the period. Geode Capital Management LLC grew its holdings in shares of Akamai Technologies by 5.1% during the third quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company’s stock valued at $423,066,000 after purchasing an additional 202,746 shares during the last quarter. Empyrean Capital Partners LP acquired a new stake in Akamai Technologies in the second quarter worth approximately $15,314,000. Renaissance Technologies LLC raised its stake in Akamai Technologies by 33.3% during the 2nd quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company’s stock valued at $58,678,000 after purchasing an additional 162,700 shares during the period. Finally, Distillate Capital Partners LLC bought a new stake in Akamai Technologies in the second quarter worth $14,130,000. 94.28% of the stock is owned by institutional investors and hedge funds.

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.