Zacks: Brokerages Expect Akamai Technologies, Inc. (NASDAQ:AKAM) Will Post Quarterly Sales of $749.76 Million

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Equities analysts expect Akamai Technologies, Inc. (NASDAQ:AKAM) to post sales of $749.76 million for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Akamai Technologies’ earnings, with estimates ranging from $745.00 million to $755.70 million. Akamai Technologies posted sales of $713.36 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.1%. The company is scheduled to report its next quarterly earnings report on Tuesday, February 11th.

On average, analysts expect that Akamai Technologies will report full-year sales of $2.87 billion for the current financial year, with estimates ranging from $2.87 billion to $2.88 billion. For the next financial year, analysts expect that the business will post sales of $3.08 billion, with estimates ranging from $3.03 billion to $3.12 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Akamai Technologies.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Monday, October 28th. The technology infrastructure company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.10. The company had revenue of $709.91 million during the quarter, compared to analyst estimates of $701.25 million. Akamai Technologies had a net margin of 15.98% and a return on equity of 16.76%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.94 EPS.

Several research firms recently issued reports on AKAM. Piper Jaffray Companies reissued an “overweight” rating and issued a $103.00 target price (up from $97.00) on shares of Akamai Technologies in a report on Tuesday, October 29th. DA Davidson increased their price objective on shares of Akamai Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. B. Riley increased their price objective on shares of Akamai Technologies from $102.00 to $111.00 and gave the company a “buy” rating in a report on Friday, October 25th. FBN Securities increased their price objective on shares of Akamai Technologies from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, Morgan Stanley increased their price objective on shares of Akamai Technologies from $96.00 to $103.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $92.19.

Akamai Technologies stock traded up $0.10 during midday trading on Friday, hitting $88.51. The stock had a trading volume of 1,010,900 shares, compared to its average volume of 1,372,802. The firm’s fifty day moving average is $88.78 and its two-hundred day moving average is $84.59. The company has a market capitalization of $14.17 billion, a PE ratio of 32.07, a P/E/G ratio of 2.13 and a beta of 0.61. Akamai Technologies has a 52-week low of $57.18 and a 52-week high of $93.12. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 0.61.

In other news, CFO Ewout L. Steenbergen sold 1,760 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $251.19, for a total transaction of $442,094.40. Also, EVP James Gemmell sold 10,065 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $85.80, for a total value of $863,577.00. Following the transaction, the executive vice president now owns 1,439 shares of the company’s stock, valued at $123,466.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,942 shares of company stock valued at $2,368,779. Insiders own 2.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of AKAM. Nuveen Asset Management LLC boosted its position in shares of Akamai Technologies by 37,980.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,030,480 shares of the technology infrastructure company’s stock valued at $323,002,000 after acquiring an additional 4,019,896 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Akamai Technologies by 15.1% during the 2nd quarter. AQR Capital Management LLC now owns 5,061,401 shares of the technology infrastructure company’s stock valued at $402,178,000 after acquiring an additional 664,795 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Akamai Technologies by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 17,132,153 shares of the technology infrastructure company’s stock valued at $1,372,971,000 after acquiring an additional 307,796 shares during the last quarter. Renaissance Group LLC bought a new position in shares of Akamai Technologies during the 3rd quarter valued at approximately $27,537,000. Finally, Cookson Peirce & Co. Inc. bought a new position in shares of Akamai Technologies during the 3rd quarter valued at approximately $25,013,000. Hedge funds and other institutional investors own 90.42% of the company’s stock.

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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