Akamai Technologies, Inc. (NASDAQ:AKAM) – Equities research analysts at DA Davidson increased their FY2018 EPS estimates for Akamai Technologies in a report released on Monday, September 10th, according to Zacks Investment Research. DA Davidson analyst M. Kelleher now expects that the technology infrastructure company will post earnings of $2.48 per share for the year, up from their prior forecast of $2.46. DA Davidson has a “Buy” rating and a $93.00 price objective on the stock. DA Davidson also issued estimates for Akamai Technologies’ Q4 2018 earnings at $0.69 EPS, Q1 2019 earnings at $0.71 EPS, Q2 2019 earnings at $0.71 EPS, Q4 2019 earnings at $0.82 EPS and FY2019 earnings at $2.96 EPS.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, July 31st. The technology infrastructure company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.03. Akamai Technologies had a net margin of 6.74% and a return on equity of 10.63%. The company had revenue of $663.00 million during the quarter, compared to analyst estimates of $661.13 million. During the same period in the prior year, the firm earned $0.62 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year.
A number of other research firms have also weighed in on AKAM. Credit Suisse Group reaffirmed a “neutral” rating and issued a $84.00 price objective (down from $88.00) on shares of Akamai Technologies in a research note on Monday, August 13th. TheStreet lowered shares of Akamai Technologies from a “b-” rating to a “c+” rating in a research report on Friday, August 10th. Robert W. Baird reissued a “hold” rating and set a $77.00 price target on shares of Akamai Technologies in a research report on Wednesday, August 1st. BidaskClub lowered shares of Akamai Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, September 20th. Finally, ValuEngine raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Akamai Technologies has a consensus rating of “Buy” and an average target price of $77.29.
NASDAQ:AKAM traded up $0.74 during mid-day trading on Thursday, reaching $73.15. The company’s stock had a trading volume of 1,554,000 shares, compared to its average volume of 1,833,712. Akamai Technologies has a 1 year low of $47.58 and a 1 year high of $83.08. The firm has a market cap of $12.29 billion, a PE ratio of 38.33, a price-to-earnings-growth ratio of 2.00 and a beta of 0.51. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.19 and a quick ratio of 2.19.
A number of large investors have recently modified their holdings of AKAM. DekaBank Deutsche Girozentrale increased its holdings in Akamai Technologies by 78.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 18,433 shares of the technology infrastructure company’s stock worth $1,363,000 after buying an additional 8,121 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in shares of Akamai Technologies during the 1st quarter worth approximately $232,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Akamai Technologies by 1,242.9% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 205,179 shares of the technology infrastructure company’s stock worth $14,563,000 after purchasing an additional 189,900 shares during the period. State of Wisconsin Investment Board grew its stake in shares of Akamai Technologies by 7.7% during the 1st quarter. State of Wisconsin Investment Board now owns 186,638 shares of the technology infrastructure company’s stock worth $13,248,000 after purchasing an additional 13,365 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Akamai Technologies by 3.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 879,425 shares of the technology infrastructure company’s stock worth $62,422,000 after purchasing an additional 33,108 shares during the period. Institutional investors own 85.99% of the company’s stock.
In related news, Director Naomi O. Seligman sold 7,855 shares of the stock in a transaction that occurred on Thursday, July 5th. The shares were sold at an average price of $74.00, for a total value of $581,270.00. Following the completion of the transaction, the director now directly owns 6,023 shares of the company’s stock, valued at approximately $445,702. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Adam Karon sold 10,000 shares of the stock in a transaction that occurred on Friday, July 6th. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. Following the completion of the transaction, the executive vice president now directly owns 13,035 shares of the company’s stock, valued at $977,625. The disclosure for this sale can be found here. Insiders sold a total of 154,313 shares of company stock valued at $11,800,812 over the last ninety days. 3.20% of the stock is currently owned by insiders.
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. 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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