Wall Street brokerages expect Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) to post sales of $898.59 million for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Akamai Technologies’ earnings. The lowest sales estimate is $892.10 million and the highest is $905.02 million. Akamai Technologies reported sales of $852.82 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.4%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Akamai Technologies will report full-year sales of $3.67 billion for the current year, with estimates ranging from $3.63 billion to $3.70 billion. For the next year, analysts anticipate that the company will post sales of $4.01 billion, with estimates ranging from $3.94 billion to $4.13 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Akamai Technologies.
Akamai Technologies (NASDAQ:AKAM – Get Rating) last released its 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 firm had revenue of $903.65 million during the quarter, compared to analyst estimates of $904.89 million. Akamai Technologies had a net margin of 17.46% and a return on equity of 17.42%. Akamai Technologies’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 EPS.
AKAM stock opened at $100.87 on Friday. The company’s fifty day simple moving average is $111.34 and its 200 day simple moving average is $111.69. Akamai Technologies has a 12-month low of $93.74 and a 12-month high of $123.25. The firm has a market cap of $16.17 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 1.90 and a beta of 0.60. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.53.
In related news, Director Bernardus Johannes M. Verwaayen sold 2,000 shares of Akamai Technologies stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $108.51, for a total transaction of $217,020.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Robert Blumofe sold 5,000 shares of Akamai Technologies stock in a transaction on Friday, May 13th. The stock was sold at an average price of $97.68, for a total value of $488,400.00. Following the sale, the chief technology officer now owns 19,725 shares in the company, valued at $1,926,738. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,825 shares of company stock valued at $6,312,296. 1.70% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. Johnson Financial Group Inc. bought a new stake in Akamai Technologies during the fourth quarter worth $25,000. Newbridge Financial Services Group Inc. raised its stake in shares of Akamai Technologies by 866.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 232 shares of the technology infrastructure company’s stock valued at $27,000 after buying an additional 208 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Akamai Technologies in the fourth quarter valued at $29,000. Karlinski Andrew C bought a new stake in shares of Akamai Technologies in the first quarter valued at $30,000. Finally, Ancora Advisors LLC raised its stake in shares of Akamai Technologies by 103.3% in the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock valued at $25,000 after buying an additional 127 shares during the period. Institutional investors and hedge funds own 91.05% of the company’s stock.
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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