Equities analysts expect that Akamai Technologies, Inc. (NASDAQ:AKAM) will report earnings of $0.44 per share for the current quarter, according to Zacks. Twelve analysts have issued estimates for Akamai Technologies’ earnings. The lowest EPS estimate is $0.40 and the highest is $0.47. Akamai Technologies posted earnings per share of $0.47 during the same quarter last year, which would indicate a negative year over year growth rate of 6.4%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, July 25th.
On average, analysts expect that Akamai Technologies will report full-year earnings of $1.93 per share for the current financial year, with EPS estimates ranging from $1.79 to $2.04. For the next financial year, analysts expect that the company will report earnings of $2.14 per share, with EPS estimates ranging from $1.96 to $2.31. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Akamai Technologies.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, May 2nd. The technology infrastructure company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Akamai Technologies had a return on equity of 11.31% and a net margin of 13.53%. The company had revenue of $609.24 million during the quarter, compared to analysts’ expectations of $604.94 million.
AKAM has been the subject of several recent analyst reports. Morgan Stanley downgraded shares of Akamai Technologies from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $68.00 to $54.00 in a research note on Thursday, April 27th. Drexel Hamilton initiated coverage on shares of Akamai Technologies in a research note on Tuesday, March 21st. They issued a “buy” rating and a $90.00 target price for the company. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $46.00 target price (down from $52.00) on shares of Akamai Technologies in a research note on Friday, June 30th. Guggenheim downgraded shares of Akamai Technologies from a “buy” rating to a “neutral” rating and cut their target price for the company from $70.00 to $60.00 in a research note on Wednesday, May 3rd. Finally, Zacks Investment Research upgraded shares of Akamai Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 11th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $64.89.
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Shares of Akamai Technologies (NASDAQ AKAM) opened at 50.62 on Monday. The firm has a 50 day moving average price of $48.87 and a 200-day moving average price of $60.06. Akamai Technologies has a 12 month low of $46.81 and a 12 month high of $71.64. The firm has a market cap of $8.75 billion, a PE ratio of 27.66 and a beta of 0.67.
In other news, Director Paul Sagan sold 17,889 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $49.53, for a total transaction of $886,042.17. Following the transaction, the director now directly owns 64,147 shares of the company’s stock, valued at $3,177,200.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO F Thomson Leighton bought 21,196 shares of the stock in a transaction dated Wednesday, May 31st. The shares were acquired at an average cost of $47.17 per share, for a total transaction of $999,815.32. Following the completion of the acquisition, the chief executive officer now directly owns 227,057 shares of the company’s stock, valued at approximately $10,710,278.69. The disclosure for this purchase can be found here. 3.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. DnB Asset Management AS boosted its position in shares of Akamai Technologies by 14.0% in the first quarter. DnB Asset Management AS now owns 13,006 shares of the technology infrastructure company’s stock worth $776,000 after buying an additional 1,600 shares during the period. Federated Investors Inc. PA boosted its stake in Akamai Technologies by 85.5% in the fourth quarter. Federated Investors Inc. PA now owns 7,325 shares of the technology infrastructure company’s stock worth $488,000 after buying an additional 3,377 shares during the last quarter. Bank of Montreal Can boosted its stake in Akamai Technologies by 85.3% in the first quarter. Bank of Montreal Can now owns 126,646 shares of the technology infrastructure company’s stock worth $7,561,000 after buying an additional 58,293 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Akamai Technologies by 17.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,916 shares of the technology infrastructure company’s stock worth $831,000 after buying an additional 2,076 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Akamai Technologies during the fourth quarter worth $374,000. 87.16% of the stock is currently owned by institutional investors and hedge funds.
About Akamai Technologies
Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.
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