Akamai Technologies, Inc. (NASDAQ:AKAM) – Equities research analysts at SunTrust Banks increased their FY2017 earnings estimates for Akamai Technologies in a note issued to investors on Wednesday. SunTrust Banks analyst G. Miller now anticipates that the technology infrastructure company will post earnings per share of $1.91 for the year, up from their previous forecast of $1.90. SunTrust Banks has a “Hold” rating on the stock. SunTrust Banks also issued estimates for Akamai Technologies’ Q4 2017 earnings at $0.46 EPS, Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.56 EPS and FY2018 earnings at $1.84 EPS.
Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.03. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The company had revenue of $621.00 million during the quarter, compared to analyst estimates of $610.66 million. During the same quarter in the previous year, the firm posted $0.68 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis.
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Other analysts also recently issued research reports about the company. BidaskClub downgraded Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 19th. B. Riley reaffirmed a “buy” rating and issued a $60.00 target price on shares of Akamai Technologies in a research report on Friday, July 28th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $57.00 target price on shares of Akamai Technologies in a research report on Wednesday, July 26th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $70.00 target price (down previously from $73.00) on shares of Akamai Technologies in a research report on Monday, July 17th. Finally, Vetr downgraded Akamai Technologies from a “strong-buy” rating to a “buy” rating and set a $52.07 target price on the stock. in a research report on Wednesday, September 13th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $60.73.
Akamai Technologies (NASDAQ:AKAM) opened at 53.00 on Monday. The firm has a market cap of $9.09 billion, a price-to-earnings ratio of 30.27 and a beta of 0.65. Akamai Technologies has a 12 month low of $44.65 and a 12 month high of $71.64. The firm’s 50-day moving average price is $49.55 and its 200-day moving average price is $50.08.
Hedge funds have recently modified their holdings of the stock. Swiss National Bank boosted its stake in shares of Akamai Technologies by 2.8% in the second quarter. Swiss National Bank now owns 631,319 shares of the technology infrastructure company’s stock valued at $31,446,000 after buying an additional 17,300 shares during the period. FIL Ltd lifted its stake in Akamai Technologies by 63.5% during the second quarter. FIL Ltd now owns 1,859,231 shares of the technology infrastructure company’s stock worth $92,609,000 after purchasing an additional 722,170 shares during the last quarter. Globeflex Capital L P lifted its stake in Akamai Technologies by 79.2% during the second quarter. Globeflex Capital L P now owns 32,800 shares of the technology infrastructure company’s stock worth $1,634,000 after purchasing an additional 14,500 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in Akamai Technologies by 12.4% during the second quarter. Pinnacle Associates Ltd. now owns 39,290 shares of the technology infrastructure company’s stock worth $1,957,000 after purchasing an additional 4,340 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Akamai Technologies by 6.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 508,495 shares of the technology infrastructure company’s stock worth $25,328,000 after purchasing an additional 29,082 shares during the last quarter. Institutional investors and hedge funds own 84.28% of the company’s stock.
In related news, CEO F Thomson Leighton purchased 21,554 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was acquired at an average cost of $46.91 per share, for a total transaction of $1,011,098.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rick M. Mcconnell sold 7,579 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $51.00, for a total value of $386,529.00. The disclosure for this sale can be found here. Insiders own 3.20% 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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