Akamai Technologies Inc. Forecasted to Earn Q4 2016 Earnings of $0.52 Per Share (AKAM)
Akamai Technologies Inc. (NASDAQ:AKAM) – Investment analysts at Oppenheimer Holdings cut their Q4 2016 EPS estimates for Akamai Technologies in a research report issued on Friday. Oppenheimer Holdings analyst T. Horan now forecasts that the brokerage will post earnings of $0.52 per share for the quarter, down from their prior estimate of $0.53.
Other equities research analysts have also recently issued research reports about the company. MKM Partners reiterated a “buy” rating and issued a $68.00 price objective on shares of Akamai Technologies in a report on Saturday, July 9th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Akamai Technologies in a report on Sunday, July 17th. B. Riley reiterated a “buy” rating and issued a $62.00 price objective on shares of Akamai Technologies in a report on Monday, August 1st. FBR & Co dropped their price objective on Akamai Technologies from $43.00 to $42.00 and set an “underperform” rating for the company in a report on Wednesday, July 27th. Finally, Piper Jaffray Cos. dropped their price objective on Akamai Technologies from $69.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $61.50.
Akamai Technologies (NASDAQ:AKAM) opened at 54.66 on Monday. The stock has a market cap of $9.55 billion, a PE ratio of 30.00 and a beta of 1.49. The company’s 50 day moving average price is $53.54 and its 200 day moving average price is $53.23. Akamai Technologies has a 12 month low of $39.43 and a 12 month high of $76.39.
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Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, July 26th. The technology infrastructure company reported $0.64 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.64. The company had revenue of $572 million for the quarter, compared to analysts’ expectations of $574.86 million. Akamai Technologies had a return on equity of 11.82% and a net margin of 14.31%. Akamai Technologies’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 earnings per share.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Akamai Technologies by 1.0% in the second quarter. Vanguard Group Inc. now owns 15,107,014 shares of the technology infrastructure company’s stock valued at $844,935,000 after buying an additional 155,597 shares during the period. Capital World Investors boosted its stake in shares of Akamai Technologies by 8.1% in the second quarter. Capital World Investors now owns 15,028,695 shares of the technology infrastructure company’s stock valued at $840,555,000 after buying an additional 1,126,696 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Akamai Technologies by 1.7% in the second quarter. Brown Advisory Inc. now owns 6,038,374 shares of the technology infrastructure company’s stock valued at $337,726,000 after buying an additional 101,193 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Akamai Technologies by 1.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,556,690 shares of the technology infrastructure company’s stock valued at $253,215,000 after buying an additional 81,460 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in shares of Akamai Technologies by 19.7% in the second quarter. William Blair Investment Management LLC now owns 4,428,561 shares of the technology infrastructure company’s stock valued at $247,689,000 after buying an additional 728,294 shares during the last quarter. 89.89% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP James Gemmell sold 1,869 shares of Akamai Technologies stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $50.45, for a total value of $94,291.05. Following the sale, the executive vice president now directly owns 7,148 shares of the company’s stock, valued at $360,616.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO F Thomson Leighton bought 19,003 shares of Akamai Technologies stock in a transaction dated Monday, August 15th. The stock was purchased at an average cost of $52.61 per share, for a total transaction of $999,747.83. The disclosure for this purchase can be found here. 2.70% of the stock is owned by insiders.
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’s across the globe distributed platform comprises approximately 200,000 servers in over 1,400 networks in over 120 countries. It is involved in offering content delivery network (CDN) services.
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