Akamai Technologies, Inc. (NASDAQ:AKAM) – Stock analysts at SunTrust Banks reduced their FY2017 earnings per share (EPS) estimates for Akamai Technologies in a research report issued on Wednesday. SunTrust Banks analyst G. Miller now forecasts that the technology infrastructure company will earn $1.90 per share for the year, down from their previous forecast of $1.96. SunTrust Banks has a “Hold” rating and a $82.00 price objective on the stock. SunTrust Banks also issued estimates for Akamai Technologies’ Q4 2017 earnings at $0.47 EPS, Q4 2018 earnings at $0.57 EPS and FY2018 earnings at $1.98 EPS.
A number of other analysts have also recently issued reports on AKAM. B. Riley reissued a “buy” rating and issued a $66.00 price objective on shares of Akamai Technologies in a research note on Wednesday, May 3rd. Stifel Nicolaus reissued a “hold” rating and issued a $56.00 price objective (down from $58.00) on shares of Akamai Technologies in a research note on Wednesday, July 26th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $54.00 price objective (down from $58.00) on shares of Akamai Technologies in a research note on Wednesday, July 26th. Oppenheimer Holdings, Inc. reduced their price objective on shares of Akamai Technologies from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, July 26th. Finally, MKM Partners reissued a “buy” rating and issued a $79.00 price objective on shares of Akamai Technologies in a research note on Monday, April 3rd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $62.76.
Shares of Akamai Technologies (NASDAQ AKAM) traded up 0.244% during midday trading on Monday, hitting $47.255. 747,253 shares of the stock traded hands. The company’s 50-day moving average is $49.97 and its 200 day moving average is $57.26. The firm has a market capitalization of $8.13 billion, a PE ratio of 26.987 and a beta of 0.67. Akamai Technologies has a 52 week low of $45.41 and a 52 week high of $71.64.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The company had revenue of $608.90 million during the quarter, compared to analyst estimates of $604.51 million. During the same quarter last year, the business posted $0.64 EPS. Akamai Technologies’s quarterly revenue was up 6.4% compared to the same quarter last year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Advisory Services Network LLC purchased a new position in shares of Akamai Technologies during the first quarter worth about $111,000. Whittier Trust Co. increased its position in shares of Akamai Technologies by 28.6% in the first quarter. Whittier Trust Co. now owns 2,251 shares of the technology infrastructure company’s stock worth $134,000 after buying an additional 501 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of Akamai Technologies by 79.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock worth $139,000 after buying an additional 1,032 shares during the last quarter. SpiderRock Advisors LLC purchased a new position in shares of Akamai Technologies during the first quarter worth about $145,000. Finally, Creative Planning increased its position in shares of Akamai Technologies by 27.2% in the first quarter. Creative Planning now owns 2,674 shares of the technology infrastructure company’s stock worth $160,000 after buying an additional 572 shares during the last quarter. 87.42% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Paul Sagan sold 17,889 shares of Akamai Technologies stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $49.53, for a total value of $886,042.17. Following the transaction, the director now owns 64,147 shares of the company’s stock, valued at approximately $3,177,200.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO F Thomson Leighton acquired 19,817 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was purchased at an average cost of $50.45 per share, for a total transaction of $999,767.65. Following the transaction, the chief executive officer now owns 205,861 shares in the company, valued at $10,385,687.45. The disclosure for this purchase can be found here. Insiders have acquired a total of 66,410 shares of company stock worth $3,233,594 in the last three months. Insiders own 3.20% of the company’s stock.
Akamai Technologies Company Profile
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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