Analysts Offer Insights on Technology Companies: Carbonite Inc (NASDAQ: CARB), Net 1 Ueps (NASDAQ: UEPS) and Akamai (NASDAQ: AKAM)

By Carrie Williams

There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Carbonite Inc (CARBResearch Report), Net 1 Ueps (UEPSResearch Report) and Akamai (AKAMResearch Report) with bullish sentiments.

Carbonite Inc (CARB)

In a report released today, Sarkis Sherbetchyan from B.Riley FBR reiterated a Buy rating on Carbonite Inc, with a price target of $35. The company’s shares closed last Monday at $14.82, close to its 52-week low of $11.86.

Sherbetchyan said:

“We note: private equity firms have demonstrated activity in the industry. For example, The Carlyle Group purchased Veritas (a provider of storage and server management software solutions) from Symantec for a valuation of $7.4 billion in August 2015, or an estimated multiple of ~3x sales for the carve-out. Vista Equity Partners bought privately-held $1.5 billion valuation in October 2017 and subsequently merged Datto with its portfolio company Autotask, creating an organization with nearly 13k customers and 500k SMB customers worldwide. In November 2017, publicly- traded Barracuda Networks (a cloud-enabled solutions provider protecting customer networks, applications, and data) was acquired by $1.6 billion, or for multiples of ~3x sales and ~15x EBITDA.”

According to TipRanks.com, Sherbetchyan has 0 stars on 0-5 star ranking scale with an average return of -6.5% and a 37.0% success rate. Sherbetchyan covers the Consumer Goods sector, focusing on stocks such as Vishay Precision Group, S&W Seed Company, and Ferroglobe PLC.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Carbonite Inc with a $26.75 average price target, representing a 77.5% upside. In a report issued on September 5, Northland Securities also assigned a Buy rating to the stock with a $30 price target.

See today’s analyst top recommended stocks >>

Net 1 Ueps (UEPS)

In a report released today, Scott Buck from B.Riley FBR reiterated a Buy rating on Net 1 Ueps, with a price target of $7. The company’s shares closed last Monday at $3.31, close to its 52-week low of $2.78.

Buck noted:

“Buy-rated Net 1 UEPS Technologies, Inc. (UEPS) is scheduled to report fiscal-4Q19 operating results on the market close, with a call scheduled for Friday at 8:00 a.m. ET (dial in: 508.924.4326). We believe investors will likely look past the actual operating results and concentrate more on management’s commentary surrounding the restructuring of the core South Africa business lines and potential business divestitures, including KSNET and the exercise of the DNI option. As timing around these events can be difficult to handicap, shares of UEPS have traded lower over the past month; we think this may suggest a lack of patience by some investors.”

According to TipRanks.com, Buck is ranked #5142 out of 5539 analysts.

Net 1 Ueps has an analyst consensus of Moderate Buy, with a price target consensus of $7.

Akamai (AKAM)

In a report released yesterday, Lee Krowl from B.Riley FBR assigned a Buy rating to Akamai, with a price target of $102. The company’s shares closed last Monday at $89.59, close to its 52-week high of $93.12.

Krowl observed:

“We believe the company will need substantial capex investment, and this could impact FCF growth. Internet |11100 Santa Monica Blvd., Ste. 800 Los Angeles, CA 90025 |www.brileyfbr.com | 2*Closing price of last trading day immediately prior to the date of this publication unless otherwise indicated. Important Information This report is prepared by B. Riley FBR, Inc. (“B. Riley FBR” or the “Firm”) and may be distributed by B. Riley Wealth Management, Inc. (BRWM) as a third-party research report under FINRA Rule 2241.”

According to TipRanks.com, Krowl is a 5-star analyst with an average return of 52.0% and a 80.0% success rate. Krowl covers the Technology sector, focusing on stocks such as Digital Turbine Inc, Limelight Networks, and Rubicon Project.

Akamai has an analyst consensus of Moderate Buy, with a price target consensus of $91.77, representing a 0.1% upside. In a report released yesterday, J.P. Morgan also reiterated a Buy rating on the stock with a $106 price target.

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.