Research Analysts Set Expectations for Akamai Technologies, Inc.’s FY2018 Earnings (AKAM)

Akamai Technologies, Inc. (NASDAQ:AKAM) – Investment analysts at Oppenheimer boosted their FY2018 EPS estimates for Akamai Technologies in a research note issued to investors on Wednesday. Oppenheimer analyst T. Horan now anticipates that the technology infrastructure company will earn $2.16 per share for the year, up from their prior estimate of $1.72. Oppenheimer currently has a “Outperform” rating and a $80.00 price objective on the stock.

Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 EPS for the quarter, topping 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 analysts’ expectations of $649.08 million. During the same quarter last year, the business earned $0.72 EPS. The business’s revenue was up 7.7% on a year-over-year basis.

Several other analysts have also recently commented on the stock. KeyCorp cut shares of Akamai Technologies from a “sector weight” rating to an “underweight” rating and reduced their target price for the stock from $66.32 to $51.00 in a research note on Thursday, January 11th. B. Riley raised their target price on shares of Akamai Technologies from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. Zacks Investment Research upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research note on Tuesday, January 2nd. Craig Hallum upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $75.00 price objective (up previously from $58.00) on shares of Akamai Technologies in a research note on Wednesday, January 10th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. Akamai Technologies has a consensus rating of “Hold” and a consensus price target of $68.95.

Akamai Technologies (NASDAQ AKAM) traded down $0.44 during mid-day trading on Monday, hitting $64.49. 1,625,600 shares of the stock traded hands, compared to its average volume of 2,052,913. Akamai Technologies has a one year low of $44.65 and a one year high of $69.56. The firm has a market cap of $10,910.00, a PE ratio of 51.98, a PEG ratio of 2.37 and a beta of 0.70. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.82 and a quick ratio of 3.01.

In other news, insider William Wheaton sold 10,000 shares of Akamai Technologies stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $66.29, for a total transaction of $662,900.00. Following the completion of the sale, the insider now directly owns 32,319 shares in the company, valued at $2,142,426.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rick M. Mcconnell sold 2,743 shares of Akamai Technologies stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $55.00, for a total transaction of $150,865.00. Following the sale, the insider now owns 37,010 shares of the company’s stock, valued at $2,035,550. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,112 shares of company stock valued at $3,562,575. 3.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisory Services Network LLC grew its holdings in shares of Akamai Technologies by 9.0% during the second quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after buying an additional 168 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Akamai Technologies by 1.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 81,950 shares of the technology infrastructure company’s stock worth $5,329,000 after buying an additional 788 shares in the last quarter. Suntrust Banks Inc. grew its holdings in shares of Akamai Technologies by 19.6% during the fourth quarter. Suntrust Banks Inc. now owns 5,054 shares of the technology infrastructure company’s stock worth $328,000 after buying an additional 829 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of Akamai Technologies by 2.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 32,822 shares of the technology infrastructure company’s stock worth $2,135,000 after buying an additional 937 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of Akamai Technologies by 19.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,696 shares of the technology infrastructure company’s stock worth $334,000 after buying an additional 1,078 shares in the last quarter. Institutional investors and hedge funds own 86.29% of the company’s stock.

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Akamai Technologies Company Profile

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.

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

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