Needham analyst Alex Henderson maintained a Buy rating on Akamai (AKAM) today and set a price target of $95.00. The company’s shares closed last Monday at $89.15, close to its 52-week high of $93.12.
According to TipRanks.com, Henderson is a 5-star analyst with an average return of 14.1% and a 50.9% success rate. Henderson covers the Consumer Goods sector, focusing on stocks such as Cisco Systems Inc, Lumentum Holdings, and Juniper Networks.
Akamai has an analyst consensus of Moderate Buy, with a price target consensus of $93.08, which is a 3.9% upside from current levels. In a report issued on October 25, B.Riley FBR also maintained a Buy rating on the stock with a $111.00 price target.
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Based on Akamai’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $114 million. In comparison, last year the company had a net profit of $108 million.
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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.
