Oppenheimer Upgrades Akamai Technologies (NASDAQ:AKAM) to Outperform

Akamai Technologies (NASDAQ:AKAM) was upgraded by equities researchers at Oppenheimer from a “market perform” rating to an “outperform” rating in a report issued on Monday,Benzinga reports. The brokerage presently has a $120.00 price target on the technology infrastructure company’s stock. Oppenheimer’s price objective points to a potential upside of 27.63% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Scotiabank cut their price objective on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. TD Cowen increased their price target on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, August 9th. HSBC upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. Finally, Robert W. Baird dropped their target price on shares of Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.61.

Akamai Technologies Stock Performance

Shares of AKAM opened at $94.02 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The firm’s 50 day moving average is $98.61 and its 200-day moving average is $96.25. Akamai Technologies has a 12-month low of $84.70 and a 12-month high of $129.17. The stock has a market capitalization of $14.12 billion, a P/E ratio of 27.82, a P/E/G ratio of 3.58 and a beta of 0.68.

Insider Buying and Selling 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, September 13th. The shares were sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The trade was a 11.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Robert Blumofe sold 2,500 shares of the 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 transaction, the chief technology officer now owns 19,510 shares in the company, valued at approximately $1,728,781.10. This trade represents a 11.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,500 shares of company stock worth $1,058,625 over the last 90 days. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Akamai Technologies

A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings 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 in the last quarter. Earnest Partners LLC increased its holdings in shares of Akamai Technologies by 1.3% during the 2nd quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company’s stock valued at $191,966,000 after acquiring an additional 28,135 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Akamai Technologies by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company’s stock valued at $156,088,000 after acquiring an additional 347,626 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in Akamai Technologies by 6.3% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company’s stock worth $151,401,000 after purchasing an additional 88,732 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Akamai Technologies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 892,356 shares of the technology infrastructure company’s stock worth $90,083,000 after purchasing an additional 11,272 shares during the period. 94.28% of the stock is currently owned by institutional investors.

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.