Brokerages Anticipate Akamai Technologies, Inc. (AKAM) Will Post Earnings of $0.63 Per Share

Wall Street analysts predict that Akamai Technologies, Inc. (NASDAQ:AKAM) will post earnings per share of $0.63 for the current fiscal quarter, according to Zacks. Eleven analysts have provided estimates for Akamai Technologies’ earnings. The highest EPS estimate is $0.66 and the lowest is $0.60. Akamai Technologies posted earnings of $0.72 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 12.5%. The firm is expected to announce its next quarterly earnings report after the market closes on Tuesday, February 6th.

On average, analysts expect that Akamai Technologies will report full year earnings of $2.56 per share for the current financial year, with EPS estimates ranging from $2.54 to $2.59. For the next fiscal year, analysts expect that the business will report earnings of $2.60 per share, with EPS estimates ranging from $2.43 to $2.78. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover 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, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.03. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The business had revenue of $621.00 million during the quarter, compared to analyst estimates of $610.66 million. During the same period in the previous year, the firm earned $0.68 EPS. Akamai Technologies’s quarterly revenue was up 6.3% compared to the same quarter last year.

Several equities analysts recently issued reports on AKAM shares. TheStreet upgraded Akamai Technologies from a “c” rating to a “b-” rating in a research report on Tuesday, November 14th. Morgan Stanley reiterated a “sell” rating and issued a $52.00 price objective on shares of Akamai Technologies in a research report on Wednesday, December 27th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $75.00 price objective (up from $58.00) on shares of Akamai Technologies in a research report on Wednesday, January 10th. Zacks Investment Research lowered Akamai Technologies from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Finally, Wells Fargo & Co set a $57.00 price objective on Akamai Technologies and gave the company a “hold” rating in a research report on Tuesday, October 10th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $63.84.

In related news, 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 value of $150,865.00. Following the sale, the insider now owns 37,010 shares in the company, valued at approximately $2,035,550. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 owns 32,319 shares in the company, valued at approximately $2,142,426.51. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,971 shares of company stock worth $4,141,642. Company insiders own 3.20% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its stake in Akamai Technologies by 4.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 846,317 shares of the technology infrastructure company’s stock valued at $55,045,000 after acquiring an additional 37,303 shares during the period. Koshinski Asset Management Inc. bought a new stake in Akamai Technologies in the 4th quarter valued at $541,000. Creative Planning bought a new stake in Akamai Technologies in the 4th quarter valued at $247,000. Atria Investments LLC bought a new stake in Akamai Technologies in the 4th quarter valued at $284,000. Finally, Hexavest Inc. bought a new stake in Akamai Technologies in the 4th quarter valued at $39,344,000. Institutional investors and hedge funds own 86.36% of the company’s stock.

Shares of Akamai Technologies (NASDAQ AKAM) traded up $0.90 on Wednesday, hitting $65.40. The company had a trading volume of 1,144,932 shares, compared to its average volume of 2,910,000. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.01 and a quick ratio of 3.01. Akamai Technologies has a 1-year low of $44.65 and a 1-year high of $71.34. The firm has a market cap of $11,060.00, a price-to-earnings ratio of 39.16, a PEG ratio of 2.65 and a beta of 0.68.

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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.

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

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