Akamai Technologies, Inc. to Post FY2018 Earnings of $2.16 Per Share, Oppenheimer Forecasts (AKAM)

Akamai Technologies, Inc. (NASDAQ:AKAM) – Analysts at Oppenheimer lifted their FY2018 earnings estimates for shares of Akamai Technologies in a research note issued to investors on Wednesday. Oppenheimer analyst T. Horan now forecasts that the technology infrastructure company will post earnings per share of $2.16 for the year, up from their previous estimate of $1.72. Oppenheimer has a “Outperform” rating and a $80.00 price target on the stock.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.06. The company had revenue of $663.50 million for 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 firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 earnings per share.

Other research analysts also recently issued research reports about the stock. Credit Suisse Group increased their price objective on shares of Akamai Technologies from $75.00 to $78.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Vetr upgraded shares of Akamai Technologies from a “buy” rating to a “strong-buy” rating and set a $71.78 price objective on the stock in a research report on Monday. Nomura increased their price objective on shares of Akamai Technologies from $50.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. KeyCorp upped their target price on shares of Akamai Technologies from $51.00 to $57.00 and gave the company an “underweight” rating in a report on Wednesday, February 7th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $60.00 target price on shares of Akamai Technologies in a report on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $68.95.

Akamai Technologies (NASDAQ AKAM) opened at $64.13 on Monday. The firm has a market cap of $10,847.70, a P/E ratio of 51.30, a P/E/G ratio of 2.37 and a beta of 0.71. Akamai Technologies has a 52-week low of $44.65 and a 52-week high of $69.56. The company has a current ratio of 2.82, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC increased 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 purchasing an additional 168 shares in the last quarter. Nisa Investment Advisors LLC increased its stake 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 worth $5,329,000 after purchasing an additional 788 shares in the last quarter. Suntrust Banks Inc. increased its stake in shares of Akamai Technologies by 19.6% in the fourth quarter. Suntrust Banks Inc. now owns 5,054 shares of the technology infrastructure company’s stock worth $328,000 after purchasing an additional 829 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Akamai Technologies by 2.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 32,822 shares of the technology infrastructure company’s stock worth $2,135,000 after purchasing an additional 937 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Akamai Technologies by 19.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,696 shares of the technology infrastructure company’s stock worth $334,000 after purchasing an additional 1,078 shares in the last quarter. 86.29% of the stock is owned by hedge funds and other institutional investors.

In other news, insider William Wheaton sold 10,000 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $66.29, for a total value of $662,900.00. Following the completion of the sale, the insider now directly owns 32,319 shares of the company’s stock, valued at $2,142,426.51. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Rick M. Mcconnell sold 2,743 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $55.00, for a total transaction of $150,865.00. Following the completion of the sale, the insider now directly owns 37,010 shares of the company’s stock, valued at $2,035,550. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,112 shares of company stock valued at $3,562,575. Corporate 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.

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

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