Equities analysts forecast that Akamai Technologies, Inc. (NASDAQ:AKAM) will post earnings of $0.70 per share for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for Akamai Technologies’ earnings, with the highest EPS estimate coming in at $0.75 and the lowest estimate coming in at $0.68. Akamai Technologies posted earnings per share of $0.69 during the same quarter last year, which indicates a positive year over year growth rate of 1.4%. The firm is expected to announce its next earnings results after the market closes on Monday, April 30th.
On average, analysts expect that Akamai Technologies will report full-year earnings of $3.02 per share for the current year, with EPS estimates ranging from $2.92 to $3.20. For the next financial year, analysts anticipate that the firm will post earnings of $3.57 per share, with EPS estimates ranging from $3.22 to $3.95. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Akamai Technologies.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.06. The firm had revenue of $663.50 million for the quarter, compared to analyst estimates of $649.08 million. Akamai Technologies had a net margin of 8.72% and a return on equity of 9.90%. Akamai Technologies’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 earnings per share.
Several equities research analysts have recently weighed in on AKAM shares. Morgan Stanley reissued a “sell” rating and issued a $52.00 target price on shares of Akamai Technologies in a research report on Wednesday, December 27th. JPMorgan Chase reaffirmed a “neutral” rating and issued a $75.00 price target (up from $58.00) on shares of Akamai Technologies in a report on Wednesday, January 10th. Vetr lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating and set a $68.08 price target for the company. in a report on Monday, January 22nd. BidaskClub raised shares of Akamai Technologies from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 30th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $88.00 price target (up from $78.00) on shares of Akamai Technologies in a report on Friday, March 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $69.96.
Shares of AKAM stock traded up $0.62 during mid-day trading on Thursday, reaching $72.26. The company’s stock had a trading volume of 120,746 shares, compared to its average volume of 1,777,416. Akamai Technologies has a 12-month low of $44.65 and a 12-month high of $78.28. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt-to-equity ratio of 0.20. The company has a market cap of $12,141.51, a PE ratio of 38.02, a P/E/G ratio of 2.51 and a beta of 0.67.
Akamai Technologies declared that its board has initiated a share repurchase plan on Thursday, March 8th that permits the company to buyback $417.00 million in shares. This buyback authorization permits the technology infrastructure company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other news, EVP Robert Blumofe sold 8,379 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $70.81, for a total value of $593,316.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Rick M. Mcconnell sold 12,618 shares of the company’s stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $69.76, for a total transaction of $880,231.68. Following the completion of the sale, the insider now directly owns 32,434 shares of the company’s stock, valued at $2,262,595.84. The disclosure for this sale can be found here. Insiders have sold a total of 34,427 shares of company stock valued at $2,388,359 over the last three months. 3.20% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of AKAM. CenterStar Asset Management LLC acquired a new stake in shares of Akamai Technologies in the 4th quarter worth approximately $114,000. Avestar Capital LLC acquired a new stake in shares of Akamai Technologies in the 4th quarter worth approximately $131,000. We Are One Seven LLC acquired a new stake in shares of Akamai Technologies in the 4th quarter worth approximately $160,000. Delpha Capital Management LLC acquired a new stake in shares of Akamai Technologies in the 4th quarter worth approximately $177,000. Finally, Wealth Architects LLC acquired a new stake in shares of Akamai Technologies in the 4th quarter worth approximately $202,000. 89.30% of the stock is 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.
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