Akamai rallies 11% after beating Q4 EPS, revenue estimates

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Last night, Akamai (AKAM) reported positive Q4 results. Adjusted EPS came in at 45c, beating consensus estimates of 40c, and revenue of $324M was ahead of the expected $311.26M. The company also named a new CFO, James Benson. Sentiment on the street was unanimously positive this morning, with several firms raising their price targets. Stifel Nicolaus raised its target on the shares to $43 from $32, while CLSA raised their target to $44 from $37. Both firms cited stronger than expected Q4 results and positive Q1 revenue guidance. Each has a Buy rating on the shares. In late morning trading, Akamai is up over 11% to $38.32.

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