Akamai Technologies (NASDAQ:AKAM) Earns “Outperform” Rating from Evercore ISI

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

Other analysts have also recently issued reports about the company. UBS Group initiated coverage on Akamai Technologies in a research note on Monday. They issued a “neutral” rating and a $110.00 target price on the stock. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research report on Monday, November 11th. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a report on Monday, December 2nd. Finally, Robert W. Baird dropped their target price 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.85.

Akamai Technologies Trading Up 0.5 %

Shares of AKAM opened at $94.58 on Tuesday. The stock has a market capitalization of $14.21 billion, a P/E ratio of 27.98, a PEG 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. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $97.68 and a two-hundred day simple moving average of $96.62.

Insider Buying and Selling

In related news, CTO Robert Blumofe sold 2,500 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $88.61, for a total value of $221,525.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s 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 sale, the director now owns 15,719 shares in the company, valued at $1,467,840.22. The trade was a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,282 shares of company stock valued at $1,733,716 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

Several hedge funds have recently modified their holdings of AKAM. Farther Finance Advisors LLC boosted its holdings in shares of 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 bought a new position in Akamai Technologies during the second quarter valued at approximately $28,000. Family Firm Inc. bought a new position in Akamai Technologies during the second quarter valued at approximately $35,000. Eastern Bank purchased a new position in Akamai Technologies during the 3rd quarter valued at approximately $71,000. Finally, Covestor Ltd raised its holdings in shares of Akamai Technologies by 67.7% during the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after acquiring an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 94.28% of the company’s stock.

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.