Analysts Anticipate Akamai Technologies, Inc. (AKAM) to Post $0.83 EPS

Equities analysts forecast that Akamai Technologies, Inc. (NASDAQ:AKAM) will post earnings per share of $0.83 for the current fiscal quarter, Zacks reports. Eleven analysts have provided estimates for Akamai Technologies’ earnings. The highest EPS estimate is $0.85 and the lowest is $0.82. Akamai Technologies posted earnings of $0.62 per share in the same quarter last year, which would suggest a positive year over year growth rate of 33.9%. The business is expected to issue its next earnings results after the market closes on Monday, October 29th.

According to Zacks, analysts expect that Akamai Technologies will report full-year earnings of $3.35 per share for the current financial year, with EPS estimates ranging from $3.32 to $3.39. For the next fiscal year, analysts forecast that the firm will post earnings of $3.81 per share, with EPS estimates ranging from $3.68 to $3.96. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Akamai Technologies.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, July 31st. The technology infrastructure company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.03. The business had revenue of $663.00 million during the quarter, compared to the consensus estimate of $661.13 million. Akamai Technologies had a return on equity of 10.63% and a net margin of 6.74%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 EPS.

A number of equities research analysts have issued reports on the company. Credit Suisse Group restated a “neutral” rating and set a $84.00 price target (down from $88.00) on shares of Akamai Technologies in a research note on Monday, August 13th. ValuEngine downgraded Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. TheStreet downgraded Akamai Technologies from a “b-” rating to a “c+” rating in a research note on Friday, August 10th. DA Davidson upgraded Akamai Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $82.00 to $93.00 in a research note on Monday, September 10th. Finally, BidaskClub downgraded Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $78.67.

In related news, Director Paul Sagan sold 39,100 shares of the business’s stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $79.51, for a total value of $3,108,841.00. Following the transaction, the director now directly owns 154,278 shares of the company’s stock, valued at approximately $12,266,643.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Aaron Ahola sold 1,123 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $73.63, for a total value of $82,686.49. Following the completion of the transaction, the senior vice president now directly owns 4,035 shares in the company, valued at $297,097.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 88,315 shares of company stock worth $6,815,655. Insiders own 3.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. King Luther Capital Management Corp lifted its holdings in Akamai Technologies by 6.2% in the 2nd quarter. King Luther Capital Management Corp now owns 2,301,365 shares of the technology infrastructure company’s stock worth $168,529,000 after purchasing an additional 133,865 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Akamai Technologies by 729.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,162,103 shares of the technology infrastructure company’s stock worth $85,101,000 after purchasing an additional 1,021,926 shares in the last quarter. Legal & General Group Plc lifted its holdings in Akamai Technologies by 5.6% in the 2nd quarter. Legal & General Group Plc now owns 1,127,704 shares of the technology infrastructure company’s stock worth $82,584,000 after purchasing an additional 59,380 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Akamai Technologies by 4.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 920,906 shares of the technology infrastructure company’s stock worth $67,438,000 after purchasing an additional 41,481 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Akamai Technologies by 237.9% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 693,349 shares of the technology infrastructure company’s stock worth $50,772,000 after purchasing an additional 488,170 shares in the last quarter. 85.66% of the stock is currently owned by institutional investors.

Akamai Technologies stock opened at $64.24 on Friday. The stock has a market cap of $10.89 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 1.78 and a beta of 0.47. Akamai Technologies has a 52-week low of $50.96 and a 52-week high of $83.08. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.25.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.

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