Akamai Technologies, Inc. (AKAM) Releases Q4 Earnings Guidance
Akamai Technologies, Inc. (NASDAQ:AKAM) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.60-0.65 for the period, compared to the Thomson Reuters consensus estimate of $0.60. The company issued revenue guidance of $638-656 million, compared to the consensus revenue estimate of $641.17 million.
A number of research firms have recently weighed in on AKAM. Zacks Investment Research downgraded Akamai Technologies from a hold rating to a sell rating in a report on Monday, October 16th. B. Riley reissued a buy rating and set a $60.00 target price on shares of Akamai Technologies in a report on Friday, July 28th. Guggenheim raised Akamai Technologies from a neutral rating to a buy rating and lifted their target price for the stock from $53.00 to $54.00 in a report on Monday, October 2nd. Stifel Nicolaus reissued a hold rating and set a $56.00 target price (down previously from $58.00) on shares of Akamai Technologies in a report on Wednesday, July 26th. Finally, BidaskClub downgraded Akamai Technologies from a strong-buy rating to a buy rating in a report on Saturday, August 19th. Three 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 stock. The stock currently has a consensus rating of Hold and a consensus target price of $59.64.
Shares of Akamai Technologies, Inc. (NASDAQ:AKAM) traded up 0.87% on Tuesday, reaching $51.91. The company’s stock had a trading volume of 4,786,329 shares. The stock has a market cap of $8.90 billion, a P/E ratio of 29.65 and a beta of 0.65. The firm’s 50-day moving average price is $48.89 and its 200-day moving average price is $50.12. Akamai Technologies, Inc. has a 12 month low of $44.65 and a 12 month high of $71.64.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Monday, October 23rd. The technology infrastructure company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. The firm had revenue of $621.00 million for the quarter, compared to analysts’ expectations of $610.66 million. During the same quarter last year, the firm posted $0.68 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. On average, analysts forecast that Akamai Technologies, Inc. will post $2.50 earnings per share for the current fiscal year.
In other news, Director Frederic V. Salerno acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were bought 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 in the company, valued at approximately $2,912,451.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Wheaton sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $49.81, for a total value of $498,100.00. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 46,224 shares of company stock worth $2,245,074. Insiders own 3.20% of the company’s stock.
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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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