Brokerages Expect Akamai Technologies, Inc. (AKAM) Will Announce Quarterly Sales of $647.92 Million

Wall Street brokerages expect Akamai Technologies, Inc. (NASDAQ:AKAM) to post $647.92 million in sales for the current fiscal quarter, Zacks reports. Eleven analysts have made estimates for Akamai Technologies’ earnings, with estimates ranging from $643.60 million to $655.56 million. Akamai Technologies reported sales of $616.12 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.2%. The company is scheduled to announce its next earnings report after the market closes on Tuesday, February 6th.

According to Zacks, analysts expect that Akamai Technologies will report full-year sales of $647.92 million for the current year, with estimates ranging from $2.46 billion to $2.50 billion. For the next financial year, analysts forecast that the business will post sales of $2.69 billion per share, with estimates ranging from $2.63 billion to $2.74 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Akamai Technologies.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS.

AKAM has been the topic of several research analyst reports. Guggenheim raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $53.00 to $54.00 in a research report on Monday, October 2nd. Instinet restated a “neutral” rating and set a $47.00 price objective on shares of Akamai Technologies in a research note on Friday, October 6th. Wells Fargo & Co set a $57.00 price objective on shares of Akamai Technologies and gave the company a “hold” rating in a research note on Tuesday, October 10th. B. Riley restated a “buy” rating and set a $66.00 price objective on shares of Akamai Technologies in a research note on Thursday, October 12th. Finally, DA Davidson set a $57.00 price objective on shares of Akamai Technologies and gave the company a “hold” rating in a research note on Thursday, October 12th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the company. Akamai Technologies presently has an average rating of “Hold” and a consensus target price of $63.84.

In other news, EVP Robert Blumofe sold 4,000 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $53.11, for a total transaction of $212,440.00. Following the completion of the sale, the executive vice president now owns 22,364 shares of the company’s stock, valued at $1,187,752.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Aaron Ahola sold 2,893 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $52.44, for a total transaction of $151,708.92. Following the sale, the senior vice president now directly owns 8,046 shares of the company’s stock, valued at approximately $421,932.24. The disclosure for this sale can be found here. In the last three months, insiders sold 71,971 shares of company stock valued at $4,141,642. 3.20% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. FTB Advisors Inc. grew its holdings in shares of Akamai Technologies by 2.4% in 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 period. Advisory Services Network LLC grew its holdings in shares of Akamai Technologies by 9.0% in 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 period. People s United Financial Inc. grew its holdings in shares of Akamai Technologies by 7.8% in the second quarter. People s United Financial Inc. now owns 4,822 shares of the technology infrastructure company’s stock valued at $240,000 after purchasing an additional 348 shares during the period. Norinchukin Bank The grew its holdings in shares of Akamai Technologies by 6.6% in the second quarter. Norinchukin Bank The now owns 11,997 shares of the technology infrastructure company’s stock valued at $598,000 after purchasing an additional 742 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Akamai Technologies by 1.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 81,950 shares of the technology infrastructure company’s stock valued at $5,329,000 after purchasing an additional 788 shares during the period. 86.36% of the stock is owned by hedge funds and other institutional investors.

Shares of Akamai Technologies (AKAM) opened at $65.08 on Friday. The firm has a market cap of $11,010.00, a P/E ratio of 38.97, a price-to-earnings-growth ratio of 2.60 and a beta of 0.68. Akamai Technologies has a 12-month low of $44.65 and a 12-month high of $71.34. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.01 and a current ratio of 3.01.

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

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