Akamai Technologies, Inc. (NASDAQ:AKAM) – Research analysts at William Blair lowered their FY2017 earnings per share estimates for shares of Akamai Technologies in a research note issued to investors on Sunday. William Blair analyst J. Breen now anticipates that the technology infrastructure company will post earnings per share of $1.78 for the year, down from their previous estimate of $1.83. William Blair also issued estimates for Akamai Technologies’ Q4 2017 earnings at $0.39 EPS and FY2018 earnings at $1.81 EPS.

A number of other research firms have also issued reports on AKAM. Wells Fargo & Company set a $57.00 target price on Akamai Technologies and gave the stock a “hold” rating in a report on Tuesday, October 10th. B. Riley reaffirmed a “buy” rating and set a $66.00 target price on shares of Akamai Technologies in a report on Thursday, October 12th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $57.00 target price on shares of Akamai Technologies in a report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $46.00 target price (down from $52.00) on shares of Akamai Technologies in a report on Friday, June 30th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $56.00 target price (down from $58.00) on shares of Akamai Technologies in a report on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, twelve have issued 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 an average price target of $59.64.

COPYRIGHT VIOLATION WARNING: This article was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was illegally stolen and reposted in violation of US and international copyright law. The original version of this article can be read at https://www.americanbankingnews.com/2017/10/17/fy2017-eps-estimates-for-akamai-technologies-inc-akam-reduced-by-william-blair.html.

Shares of Akamai Technologies (NASDAQ:AKAM) opened at 50.73 on Tuesday. Akamai Technologies has a 52 week low of $44.65 and a 52 week high of $71.64. The company has a 50-day moving average of $48.10 and a 200-day moving average of $50.46. The firm has a market capitalization of $8.70 billion, a PE ratio of 28.97 and a beta of 0.65.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $608.90 million for the quarter, compared to analysts’ expectations of $604.51 million. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 EPS.

A number of institutional investors and hedge funds have recently modified their holdings of AKAM. Advisory Services Network LLC increased its holdings in Akamai Technologies by 9.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after purchasing an additional 168 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in Akamai Technologies during the 2nd quarter worth approximately $117,000. BB&T Investment Services Inc. bought a new stake in Akamai Technologies during the 2nd quarter worth approximately $119,000. FTB Advisors Inc. increased its holdings in Akamai Technologies by 2.4% during the 2nd quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after purchasing an additional 59 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in Akamai Technologies by 79.4% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock worth $139,000 after purchasing an additional 1,032 shares in the last quarter. 84.40% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Frederic V. Salerno acquired 5,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was purchased at an average cost of $46.83 per share, with a total value of $234,150.00. Following the acquisition, the director now owns 62,192 shares of the company’s stock, valued at approximately $2,912,451.36. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Rick M. Mcconnell sold 7,579 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $51.00, for a total value of $386,529.00. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.

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 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.

Earnings History and Estimates for Akamai Technologies (NASDAQ:AKAM)

Receive News & Ratings for Akamai Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.