Zacks: Brokerages Anticipate Akamai Technologies, Inc. (NASDAQ:AKAM) Will Post Earnings of $1.00 Per Share

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Equities analysts predict that Akamai Technologies, Inc. (NASDAQ:AKAM) will post earnings of $1.00 per share for the current fiscal quarter, according to Zacks. Eleven analysts have provided estimates for Akamai Technologies’ earnings. The highest EPS estimate is $1.05 and the lowest is $0.96. Akamai Technologies posted earnings per share of $0.83 during the same quarter last year, which suggests a positive year over year growth rate of 20.5%. The business is scheduled to report its next earnings report on Tuesday, July 30th.

On average, analysts expect that Akamai Technologies will report full year earnings of $4.17 per share for the current year, with EPS estimates ranging from $4.09 to $4.37. For the next year, analysts expect that the business will report earnings of $4.64 per share, with EPS estimates ranging from $4.33 to $4.79. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Akamai Technologies.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, April 30th. The technology infrastructure company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.09. The company had revenue of $706.51 million during the quarter, compared to analysts’ expectations of $698.33 million. Akamai Technologies had a net margin of 12.78% and a return on equity of 15.29%. Akamai Technologies’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the company posted $0.79 earnings per share.

Several research firms recently weighed in on AKAM. Craig Hallum reaffirmed a “buy” rating and set a $92.00 target price (up from $82.00) on shares of Akamai Technologies in a research note on Wednesday, May 1st. KeyCorp increased their price objective on shares of Akamai Technologies from $76.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Tigress Financial reiterated a “strong-buy” rating on shares of Akamai Technologies in a research report on Thursday, April 4th. Zacks Investment Research upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Monday, February 18th. Finally, BidaskClub upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Akamai Technologies presently has an average rating of “Buy” and a consensus price target of $82.60.

In other news, insider Rick M. Mcconnell sold 1,500 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $74.00, for a total value of $111,000.00. Following the completion of the sale, the insider now owns 22,769 shares in the company, valued at approximately $1,684,906. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rick M. Mcconnell sold 1,376 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $76.00, for a total transaction of $104,576.00. Following the completion of the sale, the insider now owns 21,393 shares of the company’s stock, valued at approximately $1,625,868. The disclosure for this sale can be found here. Insiders have sold 34,058 shares of company stock valued at $2,671,281 in the last quarter. 2.40% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its holdings in shares of Akamai Technologies by 0.4% in the 3rd quarter. Vanguard Group Inc now owns 17,093,767 shares of the technology infrastructure company’s stock worth $1,250,409,000 after acquiring an additional 63,759 shares during the last quarter. Clearbridge Investments LLC raised its position in Akamai Technologies by 5.1% in the first quarter. Clearbridge Investments LLC now owns 8,392,790 shares of the technology infrastructure company’s stock worth $601,847,000 after acquiring an additional 410,681 shares during the period. Canada Pension Plan Investment Board raised its position in Akamai Technologies by 10.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 4,719,117 shares of the technology infrastructure company’s stock worth $288,219,000 after acquiring an additional 465,230 shares during the period. AQR Capital Management LLC raised its position in Akamai Technologies by 12.3% in the first quarter. AQR Capital Management LLC now owns 4,396,606 shares of the technology infrastructure company’s stock worth $314,006,000 after acquiring an additional 481,574 shares during the period. Finally, First Trust Advisors LP raised its position in Akamai Technologies by 4.1% in the first quarter. First Trust Advisors LP now owns 4,313,126 shares of the technology infrastructure company’s stock worth $309,294,000 after acquiring an additional 171,774 shares during the period. Hedge funds and other institutional investors own 87.67% of the company’s stock.

AKAM traded down $0.57 during trading on Friday, hitting $78.62. 716,617 shares of the company traded hands, compared to its average volume of 1,234,720. The stock has a market capitalization of $13.02 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 1.68 and a beta of 0.63. Akamai Technologies has a 1 year low of $57.18 and a 1 year high of $86.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.19 and a current ratio of 3.19.

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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Earnings History and Estimates for Akamai Technologies (NASDAQ:AKAM)

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