Stifel Nicolaus Reaffirms Their Hold Rating on Akamai

By Ryan Adsit

In a report released yesterday, Keith Gay from Stifel Nicolaus reiterated a Hold rating on Akamai (NASDAQ: AKAM), with a price target of $56. The company’s shares opened today at $46.60, close to its 52-week low of $44.65.

According to TipRanks.com, Gay is a 3-star analyst with an average return of 5.0% and a 60.0% success rate. Gay covers the Services sector, focusing on stocks such as Dave & Busters Entertainment, Live Nation Entertainment, and Triple-S Management Corp.

Currently, the analyst consensus on Akamai is Moderate Buy and the average price target is $55.67, representing a 19.5% upside.

In a report issued on September 5, Credit Suisse also initiated coverage with a Hold rating on the stock.

Based on Akamai’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $613 million and quarterly net profit of $57.77 million. In comparison, last year the company earned revenue of $572 million and had a net profit of $73.64 million.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AKAM in relation to earlier this year.

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. provides 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.