Akamai Technologies, Inc. to Post Q4 2017 Earnings of $0.47 Per Share, Craig Hallum Forecasts (AKAM)

Akamai Technologies, Inc. (NASDAQ:AKAM) – Equities research analysts at Craig Hallum decreased their Q4 2017 earnings per share estimates for shares of Akamai Technologies in a note issued to investors on Wednesday. Craig Hallum analyst J. Van. Rhee now expects that the technology infrastructure company will earn $0.47 per share for the quarter, down from their prior estimate of $0.51. Craig Hallum also issued estimates for Akamai Technologies’ FY2018 earnings at $1.95 EPS.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The company had revenue of $608.90 million during the quarter, compared to the consensus estimate of $604.51 million. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 earnings per share.

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Other equities analysts have also recently issued research reports about the stock. B. Riley reiterated a “buy” rating and issued a $66.00 price target on shares of Akamai Technologies in a research note on Wednesday, May 3rd. SunTrust Banks, Inc. lowered Akamai Technologies from a “buy” rating to a “hold” rating and boosted their target price for the stock from $54.00 to $82.00 in a research report on Wednesday, May 3rd. MKM Partners reissued a “buy” rating and issued a $79.00 target price on shares of Akamai Technologies in a research report on Monday, April 3rd. Nomura assumed coverage on Akamai Technologies in a research report on Thursday, May 25th. They issued a “neutral” rating and a $50.00 target price for the company. Finally, Instinet assumed coverage on Akamai Technologies in a research report on Thursday, May 25th. They issued a “neutral” rating and a $47.62 target price for the company. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $62.76.

Shares of Akamai Technologies (AKAM) traded up 0.062% during mid-day trading on Monday, hitting $47.169. 1,057,893 shares of the stock traded hands. Akamai Technologies has a 1-year low of $45.41 and a 1-year high of $71.64. The company has a market capitalization of $8.11 billion, a PE ratio of 26.938 and a beta of 0.67. The company’s 50-day moving average price is $49.97 and its 200 day moving average price is $57.26.

In other Akamai Technologies news, Director Frederic V. Salerno purchased 5,000 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was acquired at an average cost of $46.83 per share, for a total transaction of $234,150.00. Following the purchase, the director now directly owns 62,192 shares of the company’s stock, valued at approximately $2,912,451.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO F Thomson Leighton purchased 20,397 shares of the company’s stock in a transaction on Thursday, June 15th. The stock was acquired at an average price of $49.02 per share, with a total value of $999,860.94. Following the completion of the purchase, the chief executive officer now directly owns 247,454 shares in the company, valued at $12,130,195.08. The disclosure for this purchase can be found here. Insiders acquired a total of 66,410 shares of company stock valued at $3,233,594 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. DnB Asset Management AS increased its position in Akamai Technologies by 14.0% in the first quarter. DnB Asset Management AS now owns 13,006 shares of the technology infrastructure company’s stock valued at $776,000 after buying an additional 1,600 shares during the last quarter. Bank of Montreal Can increased its position in Akamai Technologies by 85.3% in the first quarter. Bank of Montreal Can now owns 126,646 shares of the technology infrastructure company’s stock valued at $7,561,000 after buying an additional 58,293 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Akamai Technologies by 17.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,916 shares of the technology infrastructure company’s stock valued at $831,000 after buying an additional 2,076 shares during the last quarter. Two Sigma Securities LLC acquired a new position in Akamai Technologies during the first quarter valued at $230,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Akamai Technologies during the fourth quarter valued at $374,000. Institutional investors and hedge funds own 87.42% of the company’s stock.

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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