Akamai Technologies (NASDAQ:AKAM) Releases Earnings Results, Beats Estimates By $0.03 EPS

Akamai Technologies (NASDAQ:AKAM) announced its quarterly earnings results on Thursday. The technology infrastructure company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.03, Briefing.com reports. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The company had revenue of $986.97 million during the quarter, compared to analysts’ expectations of $989.03 million. During the same period in the prior year, the company earned $1.01 EPS. Akamai Technologies’s revenue was up 7.8% compared to the same quarter last year.

Akamai Technologies Price Performance

NASDAQ:AKAM traded up $0.34 during midday trading on Thursday, hitting $102.46. The company had a trading volume of 3,626,649 shares, compared to its average volume of 1,610,275. Akamai Technologies has a 52-week low of $83.12 and a 52-week high of $129.17. The stock’s fifty day moving average price is $105.85 and its 200-day moving average price is $111.96. The company has a market capitalization of $15.53 billion, a PE ratio of 28.93, a P/E/G ratio of 2.81 and a beta of 0.72. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77.

Analysts Set New Price Targets

Several brokerages recently issued reports on AKAM. HSBC lowered Akamai Technologies from a “hold” rating to a “reduce” rating and lowered their target price for the stock from $109.00 to $96.00 in a research report on Thursday, February 15th. JPMorgan Chase & Co. raised their target price on Akamai Technologies from $78.00 to $81.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 14th. Robert W. Baird raised Akamai Technologies from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $128.00 to $135.00 in a research report on Thursday, March 7th. Citigroup lowered their target price on Akamai Technologies from $140.00 to $117.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $115.00 target price on shares of Akamai Technologies in a research report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $121.60.

Insider Buying and Selling

In other news, COO Adam Karon sold 8,394 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.26, for a total transaction of $908,734.44. Following the completion of the transaction, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at $2,278,439.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Adam Karon sold 8,394 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.26, for a total transaction of $908,734.44. Following the transaction, the chief operating officer now owns 21,046 shares in the company, valued at $2,278,439.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Anthony P. Williams sold 3,510 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $112.55, for a total transaction of $395,050.50. Following the transaction, the executive vice president now owns 4,299 shares in the company, valued at approximately $483,852.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,753 shares of company stock worth $3,368,303. Corporate insiders own 2.00% of the company’s stock.

About Akamai Technologies

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.