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

Evercore ISI reissued their outperform rating on shares of Akamai Technologies (NASDAQ:AKAM) in a research note published on Tuesday,Benzinga reports. They currently have a $110.00 price target on the technology infrastructure company’s stock.

AKAM has been the subject of several other reports. 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. UBS Group started coverage on Akamai Technologies in a report on Monday. They set a “neutral” rating and a $110.00 price objective on the stock. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a report on Monday, November 11th. Robert W. Baird cut their price target on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Finally, Oppenheimer upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.85.

Akamai Technologies Stock Up 0.1 %

NASDAQ:AKAM opened at $97.36 on Tuesday. The stock has a fifty day simple moving average of $98.04 and a 200-day simple moving average of $96.65. 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 market cap of $14.63 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 3.83 and a beta of 0.65. Akamai Technologies has a twelve month low of $84.70 and a twelve month high of $129.17.

Insider Activity at Akamai Technologies

In other Akamai Technologies news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $88.63, for a total transaction of $354,520.00. Following the sale, the executive vice president now owns 26,703 shares of the company’s stock, valued at approximately $2,366,686.89. The trade was a 13.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Robert Blumofe sold 2,500 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $88.61, for a total transaction of $221,525.00. Following the completion of the transaction, the chief technology officer now directly owns 19,510 shares of the company’s stock, valued at approximately $1,728,781.10. This represents a 11.36 % 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 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after purchasing an additional 114 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Akamai Technologies during the second quarter worth about $28,000. Family Firm Inc. acquired a new position in Akamai Technologies in the 2nd quarter worth approximately $35,000. Eastern Bank purchased a new position in Akamai Technologies during the 3rd quarter worth approximately $71,000. Finally, Covestor Ltd lifted its stake in Akamai Technologies by 67.7% during the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after acquiring an additional 358 shares during the period. 94.28% of the stock is owned by institutional investors and hedge funds.

About Akamai Technologies

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.