Akamai (AKAM) Gets a Buy Rating from Evercore ISI

Evercore ISI analyst Amit Daryanani maintained a Buy rating on Akamai (AKAMResearch Report) on July 21 and set a price target of $115.00. The company’s shares closed last Friday at $94.13.

According to TipRanks.com, Daryanani is a 3-star analyst with an average return of 2.3% and a 41.7% success rate. Daryanani covers the Technology sector, focusing on stocks such as International Business Machines, Hewlett Packard Enterprise, and Resideo Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Akamai with a $120.46 average price target, implying a 29.4% upside from current levels. In a report issued on July 19, RBC Capital also maintained a Buy rating on the stock with a $115.00 price target.

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Based on Akamai’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $904 million and net profit of $119 million. In comparison, last year the company earned revenue of $843 million and had a net profit of $156 million.

Based on the recent corporate insider activity of 110 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.

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