Akamai (AKAM) Gets a Buy Rating from Raymond James

Raymond James analyst Robert Majek maintained a Buy rating on Akamai (AKAMResearch Report) yesterday. The company’s shares closed last Wednesday at $93.41.

According to TipRanks.com, Majek is a 1-star analyst with an average return of -0.5% and a 45.7% success rate. Majek covers the Technology sector, focusing on stocks such as Limelight Networks, Citrix Systems, and NortonLifeLock.

Currently, the analyst consensus on Akamai is a Strong Buy with an average price target of $125.70, representing a 32.0% upside. In a report issued on February 25, Robert W. Baird also maintained a Buy rating on the stock with a $124.00 price target.

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Akamai’s market cap is currently $15.25B and has a P/E ratio of 50.00. The company has a Price to Book ratio of 6.69.

Based on the recent corporate insider activity of 37 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.