Wall Street analysts expect Akamai Technologies, Inc. (NASDAQ:AKAM) to post $749.76 million in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Akamai Technologies’ earnings. The highest sales estimate is $755.70 million and the lowest is $745.00 million. Akamai Technologies posted sales of $713.36 million during the same quarter last year, which suggests a positive year over year growth rate of 5.1%. The company is expected to announce its next quarterly earnings results on Tuesday, February 11th.
According to Zacks, analysts expect that Akamai Technologies will report full year sales of $2.87 billion for the current financial year, with estimates ranging from $2.87 billion to $2.88 billion. For the next financial year, analysts forecast that the firm will report sales of $3.08 billion, with estimates ranging from $3.03 billion to $3.12 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Akamai Technologies.
Akamai Technologies (NASDAQ:AKAM) last released its earnings results on Monday, October 28th. The technology infrastructure company reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.10. The business had revenue of $709.91 million for the quarter, compared to analysts’ expectations of $701.25 million. Akamai Technologies had a return on equity of 16.76% and a net margin of 15.98%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 earnings per share.
A number of research firms recently commented on AKAM. ValuEngine cut Akamai Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Tigress Financial reissued a “buy” rating on shares of Akamai Technologies in a research note on Monday, September 23rd. Royal Bank of Canada increased their target price on Akamai Technologies from $83.00 to $91.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 29th. FBN Securities increased their target price on Akamai Technologies from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, B. Riley increased their target price on Akamai Technologies from $102.00 to $111.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $92.19.
AKAM traded up $1.35 during trading on Monday, reaching $84.69. The stock had a trading volume of 966,779 shares, compared to its average volume of 1,185,026. The stock has a market cap of $13.55 billion, a PE ratio of 30.68, a PEG ratio of 2.03 and a beta of 0.59. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.74 and a current ratio of 3.74. Akamai Technologies has a one year low of $57.18 and a one year high of $93.12. The business has a 50-day moving average of $86.71 and a 200-day moving average of $85.65.
In other news, CFO Ewout L. Steenbergen sold 1,760 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $251.19, for a total transaction of $442,094.40. Also, EVP Robert Blumofe sold 9,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $86.87, for a total value of $781,830.00. Following the transaction, the executive vice president now directly owns 11,874 shares in the company, valued at $1,031,494.38. The disclosure for this sale can be found here. Insiders have sold 49,004 shares of company stock worth $4,567,719 over the last ninety days. Insiders own 2.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. HM Payson & Co. bought a new stake in shares of Akamai Technologies in the second quarter worth about $29,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Akamai Technologies in the second quarter worth about $30,000. North Star Investment Management Corp. bought a new stake in shares of Akamai Technologies in the third quarter worth about $30,000. Motco bought a new stake in shares of Akamai Technologies in the second quarter worth about $34,000. Finally, Commonwealth Bank of Australia grew its stake in shares of Akamai Technologies by 56.0% in the second quarter. Commonwealth Bank of Australia now owns 549 shares of the technology infrastructure company’s stock worth $43,000 after purchasing an additional 197 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.
About Akamai Technologies
Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.
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