Akamai Technologies, Inc. (NASDAQ:AKAM) – Equities research analysts at DA Davidson upped their FY2017 earnings per share estimates for Akamai Technologies in a report released on Wednesday. DA Davidson analyst M. Kelleher now expects that the technology infrastructure company will post earnings of $1.88 per share for the year, up from their prior estimate of $1.84. DA Davidson has a “Hold” rating and a $57.00 price objective on the stock. DA Davidson also issued estimates for Akamai Technologies’ Q4 2017 earnings at $0.45 EPS.
Other equities analysts also recently issued research reports about the stock. B. Riley reaffirmed a “buy” rating and set a $60.00 price target on shares of Akamai Technologies in a report on Friday, July 28th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $60.00 price target on shares of Akamai Technologies in a report on Wednesday, October 25th. SunTrust Banks, Inc. reaffirmed a “hold” rating on shares of Akamai Technologies in a report on Wednesday, October 25th. BidaskClub downgraded shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 19th. Finally, Cowen and Company reiterated a “hold” rating and set a $60.00 price objective on shares of Akamai Technologies in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. Akamai Technologies currently has an average rating of “Hold” and a consensus target price of $60.73.
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Akamai Technologies (NASDAQ:AKAM) traded up 1.30% during mid-day trading on Monday, reaching $52.93. 518,638 shares of the company were exchanged. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 30.23 and a beta of 0.65. The stock has a 50 day moving average of $49.89 and a 200-day moving average of $49.93. Akamai Technologies has a one year low of $44.65 and a one year high of $71.64.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.03. The business had revenue of $621.00 million for the quarter, compared to analyst estimates of $610.66 million. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. Akamai Technologies’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 EPS.
Several institutional investors and hedge funds have recently modified their holdings of the company. BT Investment Management Ltd boosted its stake in shares of Akamai Technologies by 80.9% during the third quarter. BT Investment Management Ltd now owns 112,650 shares of the technology infrastructure company’s stock valued at $5,527,000 after purchasing an additional 50,380 shares during the period. Kornitzer Capital Management Inc. KS boosted its stake in shares of Akamai Technologies by 44.6% during the third quarter. Kornitzer Capital Management Inc. KS now owns 496,254 shares of the technology infrastructure company’s stock valued at $24,177,000 after purchasing an additional 152,960 shares during the period. Wedbush Securities Inc. boosted its stake in shares of Akamai Technologies by 30.1% during the third quarter. Wedbush Securities Inc. now owns 14,491 shares of the technology infrastructure company’s stock valued at $706,000 after purchasing an additional 3,354 shares during the period. Frontier Capital Management Co. LLC boosted its stake in shares of Akamai Technologies by 24.9% during the third quarter. Frontier Capital Management Co. LLC now owns 286,987 shares of the technology infrastructure company’s stock valued at $13,982,000 after purchasing an additional 57,200 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Akamai Technologies during the third quarter valued at $1,057,000. 84.28% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Rick M. Mcconnell sold 7,579 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $51.00, for a total transaction of $386,529.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Wheaton sold 10,000 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $49.81, for a total transaction of $498,100.00. The disclosure for this sale can be found here. Insiders have sold 21,545 shares of company stock worth $1,099,547 in the last quarter. Company insiders own 3.20% of the company’s stock.
Akamai Technologies Company Profile
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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