Akamai (AKAM) Receives a Rating Update from a Top Analyst


Evercore ISI analyst Kirk Materne maintained a Hold rating on Akamai (AKAM) today and set a price target of $70. The company’s shares opened today at $86.01, close to its 52-week high of $86.19.

Materne observed:

“We continue to believe that the street is too optimistic on growth for F20 and view shares more fairly valued at $70. See below / within for more of our analysis. Evercore ISI is grateful for your consideration of Research Poll.”

According to TipRanks.com, Materne is a top 100 analyst with an average return of 31.8% and a 86.4% success rate. Materne covers the Technology sector, focusing on stocks such as Proofpoint Inc, Salesforce.com, and Check Point.

Currently, the analyst consensus on Akamai is a Moderate Buy with an average price target of $83.54.

See today’s analyst top recommended stocks >>

Based on Akamai’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $94.02 million. In comparison, last year the company had a net profit of $53.71 million.

Based on the recent corporate insider activity of 65 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.

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