Q1 2018 EPS Estimates for Akamai Technologies, Inc. Boosted by Analyst (AKAM)

Akamai Technologies, Inc. (NASDAQ:AKAM) – Research analysts at DA Davidson lifted their Q1 2018 earnings per share (EPS) estimates for Akamai Technologies in a note issued to investors on Wednesday. DA Davidson analyst M. Kelleher now expects that the technology infrastructure company will post earnings per share of $0.52 for the quarter, up from their prior forecast of $0.47. DA Davidson currently has a “Neutral” rating and a $64.00 target price on the stock. DA Davidson also issued estimates for Akamai Technologies’ Q2 2018 earnings at $0.51 EPS, Q3 2018 earnings at $0.54 EPS, Q4 2018 earnings at $0.62 EPS, FY2018 earnings at $2.20 EPS, Q1 2019 earnings at $0.61 EPS, Q2 2019 earnings at $0.63 EPS, Q3 2019 earnings at $0.65 EPS, Q4 2019 earnings at $0.74 EPS and FY2019 earnings at $2.64 EPS.

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

A number of other equities research analysts also 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. Piper Jaffray Companies reiterated a “buy” rating and issued a $60.00 target price on shares of Akamai Technologies in a report on Wednesday, October 25th. B. Riley reiterated a “buy” rating and issued a $70.00 target price (up from $60.00) on shares of Akamai Technologies in a report on Wednesday, October 25th. Wells Fargo & Co reiterated a “market perform” rating and issued a $62.00 target price (up from $57.00) on shares of Akamai Technologies in a report on Wednesday, October 25th. Finally, SunTrust Banks reiterated a “hold” rating on shares of Akamai Technologies in a report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $68.95.

Shares of Akamai Technologies (AKAM) opened at $64.13 on Monday. The firm has a market capitalization of $10,850.00, a P/E ratio of 50.90, a price-to-earnings-growth ratio of 2.68 and a beta of 0.70. The company has a quick ratio of 3.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.20. Akamai Technologies has a 1-year low of $44.65 and a 1-year high of $69.56.

In related news, insider Rick M. Mcconnell sold 48,369 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $56.83, for a total transaction of $2,748,810.27. Following the transaction, the insider now owns 45,974 shares of the company’s stock, valued at $2,612,702.42. 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 that occurred on Wednesday, November 15th. The shares were bought at an average cost of $53.91 per share, for a total transaction of $999,760.95. Following the transaction, 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 90 days, insiders have sold 61,112 shares of company stock valued at $3,562,575. Corporate insiders own 3.20% of the company’s stock.

Several large investors have recently made changes to their positions in AKAM. Ark Investment Management LLC boosted its position in shares of Akamai Technologies by 1,559.0% during the second quarter. Ark Investment Management LLC now owns 101,449 shares of the technology infrastructure company’s stock valued at $5,053,000 after buying an additional 95,334 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Akamai Technologies by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 897,471 shares of the technology infrastructure company’s stock valued at $44,705,000 after buying an additional 5,944 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Akamai Technologies by 19.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,696 shares of the technology infrastructure company’s stock valued at $334,000 after buying an additional 1,078 shares during the last quarter. Nomura Holdings Inc. boosted its position in shares of Akamai Technologies by 758.8% during the second quarter. Nomura Holdings Inc. now owns 29,190 shares of the technology infrastructure company’s stock valued at $1,453,000 after buying an additional 25,791 shares during the last quarter. Finally, Westwood Holdings Group Inc. purchased a new position in shares of Akamai Technologies during the second quarter valued at approximately $117,000. 86.52% of the stock is currently owned by institutional investors.

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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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