Wall Street analysts forecast that Akamai Technologies, Inc. (NASDAQ:AKAM) will report $607.46 million in sales for the current fiscal quarter, according to Zacks. Thirteen analysts have made estimates for Akamai Technologies’ earnings, with the highest sales estimate coming in at $628 million and the lowest estimate coming in at $599.79 million. Akamai Technologies posted sales of $572.14 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.2%. The business is scheduled to announce its next quarterly earnings results on Tuesday, July 25th.

On average, analysts expect that Akamai Technologies will report full year sales of $607.46 million for the current fiscal year, with estimates ranging from $2.42 billion to $2.59 billion. For the next financial year, analysts expect that the business will post sales of $2.75 billion per share, with estimates ranging from $2.63 billion to $2.95 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Akamai Technologies.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, May 2nd. The technology infrastructure company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. Akamai Technologies had a return on equity of 11.45% and a net margin of 13.51%. The firm had revenue of $609.24 million during the quarter, compared to analyst estimates of $604.94 million.

A number of analysts have weighed in on the company. B. Riley restated a “buy” rating and set a $75.00 target price on shares of Akamai Technologies in a report on Thursday, March 16th. SunTrust Banks, Inc. downgraded Akamai Technologies from a “buy” rating to a “hold” rating and upped their target price for the company from $54.00 to $82.00 in a research report on Wednesday, May 3rd. Royal Bank of Canada reissued a “hold” rating and issued a $65.00 target price on shares of Akamai Technologies in a research report on Friday, March 31st. 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. Finally, Nomura assumed coverage on Akamai Technologies in a research report on Thursday. They issued a “neutral” rating and a $50.00 target price on the stock. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the stock. Akamai Technologies presently has an average rating of “Hold” and a consensus target price of $65.21.

In other news, CFO James M. Benson sold 33,243 shares of the company’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $65.00, for a total value of $2,160,795.00. Following the completion of the transaction, the chief financial officer now directly owns 49,614 shares in the company, valued at $3,224,910. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James M. Benson sold 22,155 shares of the company’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $65.00, for a total transaction of $1,440,075.00. Following the completion of the transaction, the chief financial officer now owns 64,200 shares of the company’s stock, valued at $4,173,000. The disclosure for this sale can be found here. Insiders sold 121,999 shares of company stock valued at $7,813,255 in the last three months. Company insiders own 2.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in AKAM. Vanguard Group Inc. increased its position in Akamai Technologies by 3.0% in the first quarter. Vanguard Group Inc. now owns 16,138,401 shares of the technology infrastructure company’s stock worth $963,462,000 after buying an additional 476,166 shares during the period. First Trust Advisors LP increased its position in Akamai Technologies by 19.6% in the first quarter. First Trust Advisors LP now owns 3,420,437 shares of the technology infrastructure company’s stock worth $204,200,000 after buying an additional 560,932 shares during the last quarter. Ameriprise Financial Inc. increased its position in Akamai Technologies by 29.7% in the first quarter. Ameriprise Financial Inc. now owns 3,405,774 shares of the technology infrastructure company’s stock worth $203,324,000 after buying an additional 780,019 shares during the last quarter. Blue Harbour Group L.P. increased its position in Akamai Technologies by 15.4% in the first quarter. Blue Harbour Group L.P. now owns 2,855,493 shares of the technology infrastructure company’s stock worth $170,473,000 after buying an additional 381,300 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Akamai Technologies by 49.0% in the first quarter. AQR Capital Management LLC now owns 2,544,899 shares of the technology infrastructure company’s stock worth $151,931,000 after buying an additional 836,384 shares during the last quarter. Institutional investors and hedge funds own 91.07% of the company’s stock.

Akamai Technologies (NASDAQ:AKAM) opened at 47.39 on Friday. The stock has a 50 day moving average price of $54.51 and a 200 day moving average price of $62.84. Akamai Technologies has a 12 month low of $46.90 and a 12 month high of $71.64. The company has a market cap of $8.19 billion, a price-to-earnings ratio of 25.90 and a beta of 0.95.

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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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