Evercore ISI Reiterates Outperform Rating for Akamai Technologies (NASDAQ:AKAM)

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

Several other equities analysts also recently commented on the company. Robert W. Baird cut their price objective on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a research note on Monday, November 11th. Scotiabank lowered their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. UBS Group began coverage on Akamai Technologies in a research report on Monday. They set a “neutral” rating and a $110.00 price target on the stock. Finally, Hsbc Global Res raised shares of Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $116.85.

Akamai Technologies Stock Down 3.3 %

Shares of AKAM opened at $94.12 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. 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 business has a fifty day moving average of $97.86 and a 200 day moving average of $96.63.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $88.63, for a total value of $354,520.00. Following the completion of the sale, the executive vice president now owns 26,703 shares of the company’s stock, valued at $2,366,686.89. This represents a 13.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 $1,255,196.36. This represents a 45.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,282 shares of company stock valued at $1,733,716 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Akamai Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted 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 worth $25,000 after acquiring an additional 114 shares in the last quarter. Innealta Capital LLC purchased a new position in Akamai Technologies in the 2nd quarter valued at approximately $28,000. Family Firm Inc. acquired a new position in shares of Akamai Technologies in the second quarter worth $35,000. Eastern Bank purchased a new position in Akamai Technologies in the third quarter valued at $71,000. Finally, Covestor Ltd raised its position in Akamai Technologies by 67.7% in the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock valued at $90,000 after purchasing an additional 358 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other 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.