DA Davidson Analysts Decrease Earnings Estimates for Akamai Technologies, Inc. (AKAM)
Akamai Technologies, Inc. (NASDAQ:AKAM) – Investment analysts at DA Davidson reduced their Q1 2018 earnings per share (EPS) estimates for shares of Akamai Technologies in a note issued to investors on Thursday. DA Davidson analyst M. Kelleher now expects that the technology infrastructure company will post earnings of $0.47 per share for the quarter, down from their previous forecast of $0.52. DA Davidson has a “Hold” rating and a $57.00 price target on the stock. DA Davidson also issued estimates for Akamai Technologies’ Q2 2018 earnings at $0.46 EPS, Q3 2018 earnings at $0.49 EPS, Q4 2018 earnings at $0.55 EPS and FY2018 earnings at $1.96 EPS.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. The business had revenue of $608.90 million for the quarter, compared to analysts’ expectations of $604.51 million. During the same quarter last year, the firm earned $0.64 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis.
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A number of other equities research analysts have also recently issued reports on the stock. B. Riley reiterated a “buy” rating and issued a $66.00 price objective on shares of Akamai Technologies in a report on Thursday. Wells Fargo & Company set a $57.00 price objective on shares of Akamai Technologies and gave the stock a “hold” rating in a report on Tuesday, October 10th. Instinet reiterated a “neutral” rating and issued a $47.00 price objective on shares of Akamai Technologies in a report on Friday, October 6th. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $53.00 to $54.00 in a report on Monday, October 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $56.00 price objective on shares of Akamai Technologies in a report on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $59.64.
Akamai Technologies (AKAM) opened at 50.76 on Monday. Akamai Technologies has a 12 month low of $44.65 and a 12 month high of $71.64. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 28.99 and a beta of 0.65. The company has a 50 day moving average price of $48.10 and a 200 day moving average price of $50.46.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AKAM. Advisory Services Network LLC grew its stake in shares of Akamai Technologies by 9.0% during the second quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock valued at $101,000 after purchasing an additional 168 shares during the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of Akamai Technologies during the second quarter valued at approximately $117,000. BB&T Investment Services Inc. bought a new stake in shares of Akamai Technologies during the second quarter valued at approximately $119,000. FTB Advisors Inc. grew its stake in shares of Akamai Technologies by 2.4% during the second quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock valued at $125,000 after purchasing an additional 59 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in shares of Akamai Technologies by 79.4% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock valued at $139,000 after purchasing an additional 1,032 shares during the last quarter. 84.40% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO F Thomson Leighton purchased 21,554 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were acquired at an average cost of $46.91 per share, with a total value of $1,011,098.14. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frederic V. Salerno purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were bought at an average cost of $46.83 per share, for a total transaction of $234,150.00. Following the completion of the purchase, the director now directly owns 62,192 shares of the company’s stock, valued at $2,912,451.36. The disclosure for this purchase can be found here. 3.20% of the stock is currently owned by corporate insiders.
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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