In a report released yesterday, Mark Mahaney from RBC Capital maintained a Hold rating on Akamai (AKAM), with a price target of $87.00. The company’s shares closed last Tuesday at $95.23.
According to TipRanks.com, Mahaney is a 5-star analyst with an average return of 6.6% and a 47.0% success rate. Mahaney covers the Technology sector, focusing on stocks such as Spotify Technology SA, Uber Technologies, and Trade Desk.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Akamai with a $107.35 average price target, representing a 9.3% upside. In a report issued on March 26, Goldman Sachs also upgraded the stock to Hold with a $90.00 price target.
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Based on Akamai’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $772 million and net profit of $119 million. In comparison, last year the company earned revenue of $713 million and had a net profit of $94.02 million.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AKAM in relation to earlier this year.
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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. It also engages in content delivery network, or CDN, services to make the Internet fast, reliable and secure. The company was founded by Frank Thomson Leighton, Jonathan Seelig, Randall S. Kaplan, and Daniel Mark Lewin on August 20, 1998 and is headquartered in Cambridge, MA.
