KeyCorp Brokers Raise Earnings Estimates for Akamai Technologies, Inc. (AKAM)

Akamai Technologies, Inc. (NASDAQ:AKAM) – Investment analysts at KeyCorp upped their Q3 2018 earnings per share (EPS) estimates for shares of Akamai Technologies in a research note issued on Tuesday. KeyCorp analyst B. Nispel now forecasts that the technology infrastructure company will post earnings per share of $0.57 for the quarter, up from their previous forecast of $0.45. KeyCorp has a “Underweight” rating and a $57.00 price objective on the stock. KeyCorp also issued estimates for Akamai Technologies’ Q4 2018 earnings at $0.66 EPS.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, February 6th. The technology infrastructure company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.63 by $0.06. The company had revenue of $663.50 million during the quarter, compared to the consensus estimate of $649.08 million. Akamai Technologies had a net margin of 8.72% and a return on equity of 9.90%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS.

AKAM has been the topic of a number of other reports. TheStreet upgraded Akamai Technologies from a “c” rating to a “b-” rating in a research note on Tuesday, November 14th. Morgan Stanley reaffirmed a “sell” rating and set a $52.00 target price on shares of Akamai Technologies in a report on Wednesday, December 27th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $75.00 price objective (up previously from $58.00) on shares of Akamai Technologies in a report on Wednesday, January 10th. Vetr lowered Akamai Technologies from a “buy” rating to a “hold” rating and set a $68.08 price objective for the company. in a report on Monday, January 22nd. Finally, BidaskClub raised Akamai Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 30th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $68.95.

Akamai Technologies (AKAM) traded up $0.04 during midday trading on Friday, hitting $62.53. The stock had a trading volume of 587,249 shares, compared to its average volume of 2,082,041. The company has a market cap of $10,570.00, a PE ratio of 49.63, a price-to-earnings-growth ratio of 2.60 and a beta of 0.70. Akamai Technologies has a 12 month low of $44.65 and a 12 month high of $69.56. The company has a quick ratio of 3.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.20.

Hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC grew its stake 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 worth $101,000 after acquiring an additional 168 shares during the last quarter. CenterStar Asset Management LLC purchased a new stake in shares of Akamai Technologies during the fourth quarter valued at $114,000. Westwood Holdings Group Inc. purchased a new stake in shares of Akamai Technologies during the second quarter valued at $117,000. BB&T Investment Services Inc. purchased a new stake in shares of Akamai Technologies during the second quarter valued at $119,000. Finally, Wealth Architects LLC purchased a new stake in shares of Akamai Technologies during the fourth quarter valued at $202,000. Hedge funds and other institutional investors own 86.52% of the company’s stock.

In other Akamai Technologies news, insider Rick M. Mcconnell sold 2,743 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $55.00, for a total value of $150,865.00. Following the completion of the sale, the insider now owns 37,010 shares of the company’s stock, valued at $2,035,550. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO F Thomson Leighton bought 18,545 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was purchased at an average cost of $53.91 per share, with a total value of $999,760.95. Following the purchase, the chief executive officer now owns 226,950 shares of the company’s stock, valued at $12,234,874.50. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 61,112 shares of company stock valued at $3,562,575. 3.20% of the stock is owned by insiders.

TRADEMARK VIOLATION WARNING: “KeyCorp Brokers Raise Earnings Estimates for Akamai Technologies, Inc. (AKAM)” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another site, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The legal version of this story can be viewed at https://www.americanbankingnews.com/2018/02/09/keycorp-brokers-raise-earnings-estimates-for-akamai-technologies-inc-akam.html.

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.

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

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

Leave a Reply