SunTrust Robinson Sticks to Its Hold Rating for Akamai

By Ryan Adsit

SunTrust Robinson analyst Gregory Miller reiterated a Hold rating on Akamai (NASDAQ: AKAM) yesterday and set a price target of $60. The company’s shares opened today at $55.65.

According to TipRanks.com, Miller is a 5-star analyst with an average return of 10.2% and a 67.9% success rate. Miller covers the Technology sector, focusing on stocks such as Interxion Holding NV, Zayo Group Holdings, and magicJack VocalTec.

Akamai has an analyst consensus of Moderate Buy, with a price target consensus of $60.60.

Based on Akamai’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $621 million and quarterly net profit of $60.51 million. In comparison, last year the company earned revenue of $584 million and had a net profit of $76 million.

Based on the recent corporate insider activity of 88 insiders, corporate insider sentiment is negative on the stock.

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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.