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

Akamai Technologies (NASDAQ:AKAM - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Evercore ISI in a research note issued on Tuesday,Benzinga reports. They currently have a $110.00 target price on the technology infrastructure company's stock. Evercore ISI's price target indicates a potential upside of 12.98% from the company's current price.

Other analysts have also issued reports about the stock. Robert W. Baird lowered 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 note on Monday, November 11th. 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 research note on Friday, November 8th. HSBC raised shares of Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 price target for the company in a research note on Monday, November 11th. UBS Group initiated coverage on Akamai Technologies in a research note on Monday. They issued a "neutral" rating and a $110.00 price objective on the stock. Finally, Oppenheimer raised Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 target price for the company in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $116.85.

Akamai Technologies Trading Up 0.1 %

Shares of AKAM stock traded up $0.06 on Tuesday, reaching $97.36. 1,552,635 shares of the company's stock were exchanged, compared to its average volume of 1,675,070. The company's fifty day simple moving average is $98.04 and its 200 day simple moving average is $96.65. Akamai Technologies has a 52 week low of $84.70 and a 52 week high of $129.17. 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 stock has a market capitalization of $14.63 billion, a PE ratio of 28.80, a P/E/G ratio of 3.83 and a beta of 0.65.

Insider Activity at Akamai Technologies

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the firm's 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 completion of the transaction, the chief financial officer now directly owns 12,716 shares in the company, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Robert Blumofe sold 2,500 shares of the company's 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 owns 19,510 shares in the company, 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 sold 18,282 shares of company stock valued at $1,733,716 in the last three months. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its stake in shares of 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 purchasing an additional 347,626 shares during the period. Geode Capital Management LLC grew its position in 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 buying an additional 202,746 shares during the period. Empyrean Capital Partners LP purchased a new position in Akamai Technologies in the second quarter valued at $15,314,000. Renaissance Technologies LLC raised its position in shares of Akamai Technologies by 33.3% in the second quarter. Renaissance Technologies LLC now owns 651,400 shares of the technology infrastructure company's stock worth $58,678,000 after acquiring an additional 162,700 shares during the period. Finally, Distillate Capital Partners LLC purchased a new stake in shares of Akamai Technologies during the 2nd quarter worth about $14,130,000. 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.