In a report released yesterday, Kenneth Talanian from Evercore ISI maintained a Hold rating on Akamai (AKAM), with a price target of $70. The company’s shares closed yesterday at $79.35.
Talanian wrote:
“We attended 2019 conference in Las Vegas. The conference included an investor session for the first time which we believe was appreciated by all in attendance. The conference had a positive tone overall with a crowd that had significant interest in Akamai’s offerings. The conference reinforced core traffic centric growth drivers for the business while outlining improvements being made to support continued growth in the company’s pivot to the security market. Looking forward the company highlighted emerging themes such as 5G, IoT and Blockchain as areas for future growth. See below / within for more insights from the conference. Zero Overage. The company model launched a new fixed fee pricing model for web performance and security customers. We believe this initiative was at least in part driven by customer feedback.”
According to TipRanks.com, Talanian is a 5-star analyst with an average return of 18.7% and a 71.9% success rate. Talanian covers the Technology sector, focusing on stocks such as CyberArk Software, Proofpoint Inc, and Check Point.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Akamai with a $87.17 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $86.19 and a one-year low of $57.18. Currently, Akamai has an average volume of 1.11M.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2019, Monte Ford, a Director at AKAM sold 24,721 shares for a total of $1,790,048.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Akamai Technologies, Inc. engages in the provision of cloud services for delivering, optimizing and securing content and business applications over the Internet. Its products offers web and mobile performance solutions, cloud security solutions, enterprise solutions, network operator solutions, media delivery solutions and services and support solutions.
