Akamai Technologies, Inc. (NASDAQ:AKAM) Expected to Announce Earnings of $1.32 Per Share

Wall Street analysts forecast that Akamai Technologies, Inc. (NASDAQ:AKAMGet Rating) will announce $1.32 earnings per share for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Akamai Technologies’ earnings, with estimates ranging from $1.28 to $1.43. Akamai Technologies reported earnings per share of $1.42 during the same quarter last year, which indicates a negative year-over-year growth rate of 7%. The business is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Akamai Technologies will report full year earnings of $5.45 per share for the current financial year, with EPS estimates ranging from $5.33 to $5.88. For the next fiscal year, analysts anticipate that the business will post earnings of $6.31 per share, with EPS estimates ranging from $5.72 to $7.18. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Akamai Technologies.

Akamai Technologies (NASDAQ:AKAMGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The technology infrastructure company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.01). The company had revenue of $903.65 million during the quarter, compared to analysts’ expectations of $904.89 million. Akamai Technologies had a return on equity of 17.42% and a net margin of 17.46%. Akamai Technologies’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 EPS.

A number of equities research analysts recently weighed in on AKAM shares. DA Davidson dropped their price objective on Akamai Technologies from $143.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, March 23rd. William Blair restated an “outperform” rating on shares of Akamai Technologies in a research report on Tuesday, February 15th. Robert W. Baird reiterated a “neutral” rating and set a $102.00 price target on shares of Akamai Technologies in a research report on Friday, May 20th. Craig Hallum decreased their price target on Akamai Technologies from $120.00 to $90.00 in a research note on Wednesday, May 4th. Finally, Raymond James cut their price objective on Akamai Technologies from $118.00 to $115.00 in a report on Wednesday, May 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $127.50.

In related news, Director Bernardus Johannes M. Verwaayen sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $105.12, for a total value of $210,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Robert Blumofe sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $109.15, for a total value of $873,200.00. The disclosure for this sale can be found here. Insiders sold a total of 59,825 shares of company stock valued at $6,522,536 over the last three months. Insiders own 1.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Akamai Technologies by 0.3% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 27,821 shares of the technology infrastructure company’s stock worth $3,259,000 after purchasing an additional 89 shares during the last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of Akamai Technologies by 0.4% during the fourth quarter. Mutual of America Capital Management LLC now owns 21,458 shares of the technology infrastructure company’s stock worth $2,511,000 after purchasing an additional 93 shares during the last quarter. Appleton Partners Inc. MA boosted its holdings in shares of Akamai Technologies by 2.2% during the fourth quarter. Appleton Partners Inc. MA now owns 4,415 shares of the technology infrastructure company’s stock worth $517,000 after purchasing an additional 95 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Akamai Technologies by 1.0% during the fourth quarter. Louisiana State Employees Retirement System now owns 10,200 shares of the technology infrastructure company’s stock worth $1,194,000 after purchasing an additional 100 shares during the last quarter. Finally, Baystate Wealth Management LLC boosted its holdings in shares of Akamai Technologies by 33.3% during the first quarter. Baystate Wealth Management LLC now owns 400 shares of the technology infrastructure company’s stock worth $48,000 after purchasing an additional 100 shares during the last quarter. 91.05% of the stock is owned by institutional investors.

AKAM traded down $0.34 during trading on Wednesday, reaching $99.22. The company had a trading volume of 30,643 shares, compared to its average volume of 1,744,858. The stock has a market cap of $15.91 billion, a P/E ratio of 26.67, a PEG ratio of 1.90 and a beta of 0.60. The business has a 50 day simple moving average of $112.00 and a 200-day simple moving average of $111.83. Akamai Technologies has a 52 week low of $93.74 and a 52 week high of $123.25. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.53.

About Akamai Technologies (Get Rating)

Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.

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