B. Riley Issues a Buy Rating on Akamai

By Carrie Williams

B. Riley analyst Sameet Sinha assigned a Buy rating to Akamai (NASDAQ: AKAM) today and set a price target of $66. The company’s shares closed yesterday at $50.52.

Sinha commented:

“We believe the volatile CDN/Media segment will be ~20% of revenue by YE18, while the SaaS/ Security segment should be ~70% of revenue, growing in the low double digit range with industry leading margins.”

According to TipRanks.com, Sinha is a 4-star analyst with an average return of 9.0% and a 65.0% success rate. Sinha covers the Technology sector, focusing on stocks such as Digital Turbine Inc, Limelight Networks, and Angie’s List Inc.

Akamai has an analyst consensus of Moderate Buy, with a price target consensus of $57.

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 $584 million and had a net profit of $76 million.

Based on the recent corporate insider activity of 84 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.