Analysts forecast that Akamai Technologies, Inc. (NASDAQ:AKAM) will report $0.69 earnings per share for the current quarter, Zacks reports. Eleven analysts have made estimates for Akamai Technologies’ earnings, with the highest EPS estimate coming in at $0.72 and the lowest estimate coming in at $0.68. Akamai Technologies also reported earnings per share of $0.69 during the same quarter last year. The firm is scheduled to report its next quarterly earnings results on Tuesday, May 1st.
On average, analysts expect that Akamai Technologies will report full year earnings of $2.98 per share for the current financial year, with EPS estimates ranging from $2.91 to $3.10. For the next financial year, analysts forecast that the firm will post earnings of $3.36 per share, with EPS estimates ranging from $2.89 to $3.67. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Akamai Technologies.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. The firm had revenue of $663.50 million for the quarter, compared to analysts’ expectations of $649.08 million. Akamai Technologies had a return on equity of 9.90% and a net margin of 8.72%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 EPS.
AKAM has been the topic of a number of research analyst reports. Cowen restated a “hold” rating and set a $59.00 price target on shares of Akamai Technologies in a report on Friday, October 27th. Zacks Investment Research upgraded Akamai Technologies from a “sell” rating to a “hold” rating in a report on Monday, October 30th. TheStreet upgraded Akamai Technologies from a “c” rating to a “b-” rating in a report on Tuesday, November 14th. MKM Partners increased their target price on Akamai Technologies to $65.00 and gave the stock a “buy” rating in a report on Friday, December 1st. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $59.00 target price on shares of Akamai Technologies in a report on Monday, December 4th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $69.03.
In related news, CEO F Thomson Leighton acquired 17,537 shares of the company’s stock in a transaction on Friday, December 15th. The shares were acquired at an average cost of $57.01 per share, for a total transaction of $999,784.37. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP James Gemmell sold 8,430 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $67.00, for a total value of $564,810.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,799 shares of company stock worth $3,976,520. Company insiders own 3.20% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Alyeska Investment Group L.P. purchased a new stake in shares of Akamai Technologies during the 3rd quarter valued at $65,270,000. Hexavest Inc. purchased a new stake in shares of Akamai Technologies during the 4th quarter valued at $39,344,000. Clearbridge Investments LLC increased its position in shares of Akamai Technologies by 5.5% during the 4th quarter. Clearbridge Investments LLC now owns 9,105,713 shares of the technology infrastructure company’s stock valued at $592,236,000 after purchasing an additional 474,271 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its position in shares of Akamai Technologies by 374.8% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 583,988 shares of the technology infrastructure company’s stock valued at $37,983,000 after purchasing an additional 460,980 shares during the last quarter. Finally, Element Capital Management LLC purchased a new stake in shares of Akamai Technologies during the 4th quarter valued at $24,754,000. Institutional investors and hedge funds own 84.77% of the company’s stock.
Akamai Technologies (NASDAQ:AKAM) opened at $66.25 on Tuesday. The stock has a market capitalization of $11,330.00, a P/E ratio of 47.52, a price-to-earnings-growth ratio of 2.37 and a beta of 0.70. Akamai Technologies has a twelve month low of $44.65 and a twelve month high of $69.56. The company has a current ratio of 2.82, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20.
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About Akamai Technologies
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.
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