Akamai Technologies, Inc. (NASDAQ:AKAM) – Stock analysts at DA Davidson upped their FY2017 earnings estimates for shares of Akamai Technologies in a research note issued to investors on Wednesday. DA Davidson analyst M. Kelleher now expects that the technology infrastructure company will post earnings per share of $1.88 for the year, up from their prior estimate of $1.84. DA Davidson has a “Hold” rating and a $57.00 price objective on the stock. DA Davidson also issued estimates for Akamai Technologies’ Q4 2017 earnings at $0.45 EPS.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.03. The firm had revenue of $621.00 million for the quarter, compared to the consensus estimate of $610.66 million. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share.

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A number of other brokerages also recently issued reports on AKAM. Wells Fargo & Company set a $57.00 price objective on shares of Akamai Technologies and gave the stock a “hold” rating in a research report on Tuesday, October 10th. B. Riley reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Akamai Technologies in a research report on Thursday, October 12th. Credit Suisse Group lifted their price objective on shares of Akamai Technologies from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Akamai Technologies in a research report on Wednesday, July 26th. Finally, Nomura lifted their price objective on shares of Akamai Technologies from $47.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. 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 presently has an average rating of “Hold” and an average price target of $60.73.

Akamai Technologies (NASDAQ AKAM) opened at 53.00 on Monday. The company has a market cap of $9.09 billion, a P/E ratio of 30.27 and a beta of 0.65. Akamai Technologies has a 52 week low of $44.65 and a 52 week high of $71.64. The stock has a 50 day moving average of $49.55 and a 200 day moving average of $50.08.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. acquired a new position in shares of Akamai Technologies in the 3rd quarter valued at $1,057,000. Harbor Advisors LLC lifted its stake in shares of Akamai Technologies by 11.1% in the 3rd quarter. Harbor Advisors LLC now owns 20,000 shares of the technology infrastructure company’s stock valued at $974,000 after purchasing an additional 2,000 shares during the period. Calamos Advisors LLC lifted its stake in shares of Akamai Technologies by 3.6% in the 3rd quarter. Calamos Advisors LLC now owns 42,738 shares of the technology infrastructure company’s stock valued at $2,082,000 after purchasing an additional 1,466 shares during the period. Regentatlantic Capital LLC acquired a new position in shares of Akamai Technologies in the 3rd quarter valued at $218,000. Finally, First Quadrant L P CA lifted its stake in shares of Akamai Technologies by 1,301.0% in the 3rd quarter. First Quadrant L P CA now owns 173,721 shares of the technology infrastructure company’s stock valued at $8,464,000 after purchasing an additional 161,321 shares during the period. Hedge funds and other institutional investors own 84.28% of the company’s stock.

In related news, insider Rick M. Mcconnell sold 7,579 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $51.00, for a total value of $386,529.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO F Thomson Leighton bought 21,554 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was purchased at an average price of $46.91 per share, with a total value of $1,011,098.14. The disclosure for this purchase 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)

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