Wall Street analysts predict that Akamai Technologies (NASDAQ:AKAM) will post sales of $654.02 million for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Akamai Technologies’ earnings, with the highest sales estimate coming in at $664.87 million and the lowest estimate coming in at $649.40 million. Akamai Technologies posted sales of $609.24 million in the same quarter last year, which indicates a positive year over year growth rate of 7.4%. The firm is expected to report its next quarterly earnings report after the market closes on Monday, April 30th.
According to Zacks, analysts expect that Akamai Technologies will report full-year sales of $2.70 billion for the current financial year, with estimates ranging from $2.67 billion to $2.78 billion. For the next financial year, analysts expect that the company will report sales of $2.94 billion per share, with estimates ranging from $2.88 billion to $3.13 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Akamai Technologies.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.06. Akamai Technologies had a net margin of 8.72% and a return on equity of 9.90%. The company had revenue of $663.50 million during the quarter, compared to analyst estimates of $649.08 million. During the same quarter last year, the firm posted $0.72 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis.
Shares of NASDAQ:AKAM traded down $1.16 during trading hours on Friday, hitting $71.30. 820,486 shares of the company’s stock traded hands, compared to its average volume of 1,370,215. Akamai Technologies has a 52 week low of $44.65 and a 52 week high of $78.28. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.20. The firm has a market cap of $12,316.59, a price-to-earnings ratio of 37.53, a price-to-earnings-growth ratio of 2.55 and a beta of 0.67.
Akamai Technologies announced that its board has initiated a share repurchase program on Thursday, March 8th that authorizes the company to repurchase $417.00 million in shares. This repurchase authorization authorizes the technology infrastructure company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
In other news, EVP Robert Blumofe sold 8,379 shares of the stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $70.81, for a total value of $593,316.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Wheaton sold 5,000 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the sale, the insider now directly owns 39,465 shares of the company’s stock, valued at $2,762,550. The disclosure for this sale can be found here. Insiders sold 41,809 shares of company stock valued at $2,924,587 over the last three months. 3.20% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Clearbridge Investments LLC lifted its position in shares of Akamai Technologies by 5.5% in the fourth quarter. Clearbridge Investments LLC now owns 9,105,713 shares of the technology infrastructure company’s stock worth $592,236,000 after purchasing an additional 474,271 shares in the last quarter. King Luther Capital Management Corp lifted its position in shares of Akamai Technologies by 4.5% in the fourth quarter. King Luther Capital Management Corp now owns 2,160,085 shares of the technology infrastructure company’s stock worth $140,492,000 after purchasing an additional 92,520 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Akamai Technologies by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 1,885,681 shares of the technology infrastructure company’s stock worth $122,397,000 after purchasing an additional 24,367 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its position in shares of Akamai Technologies by 0.8% in the fourth quarter. Disciplined Growth Investors Inc. MN now owns 1,643,075 shares of the technology infrastructure company’s stock worth $106,866,000 after purchasing an additional 13,472 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Akamai Technologies by 6.4% in the third quarter. Dimensional Fund Advisors LP now owns 954,560 shares of the technology infrastructure company’s stock worth $46,493,000 after purchasing an additional 57,089 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.
Akamai Technologies Company Profile
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.
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