Akamai Technologies, Inc. (AKAM) to Post Q3 2017 Earnings of $0.46 Per Share, Oppenheimer Holdings Forecasts
Akamai Technologies, Inc. (NASDAQ:AKAM) – Analysts at Oppenheimer Holdings decreased their Q3 2017 earnings estimates for shares of Akamai Technologies in a research note issued on Friday. Oppenheimer Holdings analyst T. Horan now forecasts that the technology infrastructure company will post earnings per share of $0.46 for the quarter, down from their prior forecast of $0.48. Oppenheimer Holdings also issued estimates for Akamai Technologies’ Q4 2017 earnings at $0.50 EPS, FY2017 earnings at $1.97 EPS and FY2018 earnings at $2.07 EPS.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, May 2nd. The technology infrastructure company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $609.24 million during the quarter, compared to the consensus estimate of $604.94 million. Akamai Technologies had a net margin of 13.53% and a return on equity of 11.31%.
Other research analysts have also issued reports about the company. B. Riley restated a “buy” rating and issued a $75.00 target price on shares of Akamai Technologies in a research note on Saturday, March 11th. SunTrust Banks, Inc. lowered 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 note on Wednesday, May 3rd. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $46.00 price target (down from $52.00) on shares of Akamai Technologies in a research report on Friday. Royal Bank Of Canada reiterated a “hold” rating and issued a $65.00 price target on shares of Akamai Technologies in a research report on Friday, March 31st. Finally, MKM Partners reiterated a “buy” rating and issued a $79.00 price target on shares of Akamai Technologies in a research report on Monday, April 3rd. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Akamai Technologies currently has an average rating of “Hold” and an average price target of $65.16.
Akamai Technologies (NASDAQ AKAM) opened at 49.81 on Monday. Akamai Technologies has a 12-month low of $46.81 and a 12-month high of $71.64. The firm has a market cap of $8.61 billion, a P/E ratio of 27.22 and a beta of 0.71. The firm has a 50-day moving average of $48.87 and a 200-day moving average of $60.06.
In other Akamai Technologies news, Director Paul Sagan sold 18,666 shares of the stock in a transaction dated Wednesday, April 12th. The stock was sold at an average price of $58.75, for a total value of $1,096,627.50. Following the transaction, the director now owns 60,488 shares of the company’s stock, valued at $3,553,670. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO F Thomson Leighton bought 20,397 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was bought at an average cost of $49.02 per share, for a total transaction of $999,860.94. Following the purchase, the chief executive officer now directly owns 247,454 shares of the company’s stock, valued at approximately $12,130,195.08. The disclosure for this purchase can be found here. Corporate insiders own 3.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in AKAM. Vanguard Group Inc. raised its stake 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 in the last quarter. Clearbridge Investments LLC raised its stake in Akamai Technologies by 13.1% in the first quarter. Clearbridge Investments LLC now owns 6,177,452 shares of the technology infrastructure company’s stock worth $368,794,000 after buying an additional 717,811 shares in the last quarter. First Trust Advisors LP raised its stake 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 in the last quarter. Ameriprise Financial Inc. raised its stake 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 in the last quarter. Finally, Blue Harbour Group L.P. raised its stake 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 in the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.
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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