Equities analysts expect Akamai Technologies, Inc. (NASDAQ:AKAM) to post earnings of $1.16 per share for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Akamai Technologies’ earnings, with estimates ranging from $1.14 to $1.22. Akamai Technologies posted earnings of $1.10 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 5.5%. The firm is scheduled to announce its next earnings report on Tuesday, May 5th.
According to Zacks, analysts expect that Akamai Technologies will report full-year earnings of $4.92 per share for the current fiscal year, with EPS estimates ranging from $4.82 to $5.20. For the next year, analysts anticipate that the business will report earnings of $5.35 per share, with EPS estimates ranging from $5.04 to $5.58. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Akamai Technologies.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, February 11th. The technology infrastructure company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.10. Akamai Technologies had a return on equity of 16.86% and a net margin of 16.52%. The firm had revenue of $772.12 million during the quarter, compared to analysts’ expectations of $749.76 million. During the same period in the prior year, the business earned $1.07 EPS.
AKAM has been the subject of several analyst reports. ValuEngine upgraded Akamai Technologies from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. BidaskClub upgraded Akamai Technologies from a “hold” rating to a “buy” rating in a report on Saturday, February 15th. Nomura increased their target price on Akamai Technologies from $81.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Piper Jaffray Companies restated an “overweight” rating and set a $103.00 target price (up from $97.00) on shares of Akamai Technologies in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. increased their target price on Akamai Technologies from $106.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Akamai Technologies currently has an average rating of “Buy” and an average price target of $100.26.
In other Akamai Technologies news, EVP Robert Blumofe sold 8,389 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.29, for a total transaction of $832,943.81. Following the completion of the transaction, the executive vice president now owns 11,509 shares of the company’s stock, valued at approximately $1,142,728.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jill A. Greenthal sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $102.41, for a total value of $512,050.00. Following the transaction, the director now directly owns 33,039 shares of the company’s stock, valued at approximately $3,383,523.99. The disclosure for this sale can be found here. Insiders have sold a total of 38,451 shares of company stock valued at $3,543,934 in the last ninety days. 2.40% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AKAM. Pacer Advisors Inc. raised its position in shares of Akamai Technologies by 10.0% in the 3rd quarter. Pacer Advisors Inc. now owns 17,610 shares of the technology infrastructure company’s stock worth $1,609,000 after acquiring an additional 1,605 shares in the last quarter. DNB Asset Management AS raised its position in shares of Akamai Technologies by 5.3% in the 3rd quarter. DNB Asset Management AS now owns 16,655 shares of the technology infrastructure company’s stock worth $1,522,000 after acquiring an additional 843 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Akamai Technologies by 10.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,136 shares of the technology infrastructure company’s stock worth $926,000 after acquiring an additional 927 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Akamai Technologies by 1,172.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 185,786 shares of the technology infrastructure company’s stock valued at $16,977,000 after buying an additional 171,186 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in Akamai Technologies during the 3rd quarter valued at approximately $278,000. 90.42% of the stock is owned by institutional investors and hedge funds.
AKAM stock traded down $1.09 during trading on Thursday, hitting $101.47. 1,474,113 shares of the company traded hands, compared to its average volume of 1,304,842. The firm has a market capitalization of $16.32 billion, a PE ratio of 34.87, a P/E/G ratio of 2.16 and a beta of 0.53. Akamai Technologies has a 1 year low of $67.28 and a 1 year high of $103.34. The company has a 50-day moving average of $94.96 and a 200-day moving average of $89.74. The company has a debt-to-equity ratio of 0.69, a quick ratio of 3.74 and a current ratio of 3.22.
About Akamai Technologies
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.
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