Analysts Issue Forecasts for Akamai Technologies, Inc.’s Q3 2017 Earnings (NASDAQ:AKAM)
Akamai Technologies, Inc. (NASDAQ:AKAM) – Equities research analysts at B. Riley lowered their Q3 2017 earnings per share estimates for Akamai Technologies in a research note issued to investors on Thursday. B. Riley analyst S. Sinha now forecasts that the technology infrastructure company will post earnings of $0.40 per share for the quarter, down from their previous estimate of $0.41. B. Riley currently has a “Buy” rating and a $66.00 target price on the stock.
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, beating analysts’ consensus estimates of $0.52 by $0.01. Akamai Technologies had a return on equity of 11.31% and a net margin of 13.53%. The firm had revenue of $609.24 million for the quarter, compared to analysts’ expectations of $604.94 million. WARNING: This piece was posted by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/07/21/analysts-issue-forecasts-for-akamai-technologies-inc-s-q3-2017-earnings-nasdaqakam.html.
Several other research analysts also recently issued reports on AKAM. Royal Bank Of Canada restated a “hold” rating and set a $65.00 price objective on shares of Akamai Technologies in a research report on Friday, March 31st. Stifel Nicolaus restated a “hold” rating and set a $62.00 price objective (down from $65.00) on shares of Akamai Technologies in a research report on Sunday, April 2nd. William Blair restated an “outperform” rating on shares of Akamai Technologies in a research report on Monday, April 3rd. MKM Partners restated a “buy” rating and set a $79.00 price objective on shares of Akamai Technologies in a research report on Monday, April 3rd. Finally, Zacks Investment Research upgraded Akamai Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 11th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $64.74.
Akamai Technologies (NASDAQ:AKAM) opened at 52.36 on Friday. The company has a 50-day moving average price of $49.86 and a 200-day moving average price of $58.38. Akamai Technologies has a 12-month low of $46.81 and a 12-month high of $71.64. The firm has a market capitalization of $9.05 billion, a PE ratio of 28.61 and a beta of 0.67.
Several institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new position in shares of Akamai Technologies during the first quarter worth approximately $111,000. Whittier Trust Co. raised its position in shares of Akamai Technologies by 28.6% in the first quarter. Whittier Trust Co. now owns 2,251 shares of the technology infrastructure company’s stock worth $134,000 after buying an additional 501 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of Akamai Technologies by 79.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock worth $139,000 after buying an additional 1,032 shares in the last quarter. SpiderRock Advisors LLC purchased a new position in shares of Akamai Technologies during the first quarter worth approximately $145,000. Finally, Creative Planning raised its position in shares of Akamai Technologies by 27.2% in the first quarter. Creative Planning now owns 2,674 shares of the technology infrastructure company’s stock worth $160,000 after buying an additional 572 shares in the last quarter. Institutional investors and hedge funds own 87.16% of the company’s stock.
In related news, Director Paul Sagan sold 17,889 shares of Akamai Technologies stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $49.53, for a total transaction of $886,042.17. Following the transaction, the director now owns 64,147 shares in the company, valued at approximately $3,177,200.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO F Thomson Leighton bought 19,817 shares of Akamai Technologies stock in a transaction that occurred on Friday, July 14th. The shares were acquired at an average price of $50.45 per share, for a total transaction of $999,767.65. Following the acquisition, the chief executive officer now directly owns 205,861 shares in the company, valued at approximately $10,385,687.45. The disclosure for this purchase can be found here. Insiders have purchased a total of 61,410 shares of company stock worth $2,999,444 in the last 90 days. 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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