Wall Street analysts forecast that Akamai Technologies, Inc. (NASDAQ:AKAM) will announce earnings per share of $1.23 for the current quarter, Zacks reports. Nine analysts have made estimates for Akamai Technologies’ earnings, with the highest EPS estimate coming in at $1.27 and the lowest estimate coming in at $1.21. Akamai Technologies reported earnings of $1.10 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 11.8%. The firm is scheduled to issue its next earnings results on Monday, October 26th.
On average, analysts expect that Akamai Technologies will report full-year earnings of $5.11 per share for the current financial year, with EPS estimates ranging from $5.07 to $5.28. For the next fiscal year, analysts forecast that the firm will report earnings of $5.47 per share, with EPS estimates ranging from $5.30 to $5.66. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Akamai Technologies.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, July 28th. The technology infrastructure company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.17. The company had revenue of $794.72 million for the quarter, compared to analyst estimates of $767.38 million. Akamai Technologies had a net margin of 17.82% and a return on equity of 17.37%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.07 EPS.
AKAM has been the topic of a number of research reports. Raymond James boosted their target price on shares of Akamai Technologies from $110.00 to $117.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their target price on shares of Akamai Technologies from $122.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Morgan Stanley boosted their target price on shares of Akamai Technologies from $107.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 29th. Cowen raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $107.00 to $150.00 in a report on Thursday, July 2nd. Finally, Craig Hallum boosted their target price on shares of Akamai Technologies from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Eight research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $117.00.
In related news, CFO Edward J. Mcgowan sold 2,516 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $116.00, for a total transaction of $291,856.00. Following the transaction, the chief financial officer now owns 5,129 shares in the company, valued at approximately $594,964. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rick M. Mcconnell sold 3,409 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $112.50, for a total transaction of $383,512.50. Following the transaction, the insider now owns 20,007 shares in the company, valued at approximately $2,250,787.50. The disclosure for this sale can be found here. Insiders have sold a total of 12,126 shares of company stock worth $1,346,576 in the last quarter. 2.40% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Analysts LLC raised its holdings in Akamai Technologies by 211.9% during the second quarter. Capital Analysts LLC now owns 262 shares of the technology infrastructure company’s stock worth $28,000 after buying an additional 178 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Akamai Technologies during the first quarter worth $27,000. Creative Financial Designs Inc. ADV acquired a new position in Akamai Technologies during the second quarter worth $35,000. Valeo Financial Advisors LLC raised its holdings in Akamai Technologies by 229.6% during the second quarter. Valeo Financial Advisors LLC now owns 379 shares of the technology infrastructure company’s stock worth $41,000 after buying an additional 264 shares during the last quarter. Finally, Liberty One Investment Management LLC acquired a new position in Akamai Technologies during the second quarter worth $41,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.
Shares of Akamai Technologies stock traded down $1.32 during midday trading on Monday, hitting $108.61. 910,071 shares of the company traded hands, compared to its average volume of 1,362,764. The stock has a market cap of $17.67 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 2.17 and a beta of 0.31. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.34 and a current ratio of 3.34. The firm’s fifty day moving average price is $110.26 and its 200-day moving average price is $104.31. Akamai Technologies has a 12 month low of $75.18 and a 12 month high of $120.00.
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 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; Edge DNS, which translates human-readable domain names into numerical IP addresses; Site Shield that prevents attacker from directly targeting the application origin and forces traffic to go through its network, where attack can be better detected and mitigated; identity Cloud, a customer identity access management solution; Prolexic Routed to protect web- and IP-based application; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.
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