Q3 2017 EPS Estimates for Akamai Technologies, Inc. Cut by Analyst (AKAM)
Akamai Technologies, Inc. (NASDAQ:AKAM) – Equities research analysts at Oppenheimer Holdings dropped their Q3 2017 earnings per share (EPS) estimates for shares of Akamai Technologies in a research note issued on Friday. Oppenheimer Holdings analyst T. Horan now anticipates that the technology infrastructure company will post earnings per share of $0.43 for the quarter, down from their previous estimate of $0.44. Oppenheimer Holdings currently has a “Outperform” rating and a $60.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Akamai Technologies’ Q4 2017 earnings at $0.42 EPS, FY2018 earnings at $1.67 EPS and FY2019 earnings at $1.96 EPS.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $608.90 million during the quarter, compared to the consensus estimate of $604.51 million. Akamai Technologies had a return on equity of 10.97% and a net margin of 12.67%. Akamai Technologies’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 earnings per share.
Several other equities research analysts also recently issued reports on the company. DA Davidson set a $57.00 price target on Akamai Technologies and gave the company a “hold” rating in a research report on Thursday. B. Riley reissued a “buy” rating and set a $66.00 target price on shares of Akamai Technologies in a research report on Thursday. Wells Fargo & Company set a $57.00 target price on Akamai Technologies and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Instinet reissued a “neutral” rating and set a $47.00 target price on shares of Akamai Technologies in a research report on Friday, October 6th. Finally, Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $53.00 to $54.00 in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $59.64.
Akamai Technologies (NASDAQ:AKAM) opened at 50.76 on Monday. Akamai Technologies has a one year low of $44.65 and a one year high of $71.64. The stock has a market cap of $8.70 billion, a P/E ratio of 28.99 and a beta of 0.65. The company has a 50-day moving average price of $48.10 and a 200-day moving average price of $50.46.
In related news, CEO F Thomson Leighton acquired 21,554 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was purchased at an average price of $46.91 per share, for a total transaction of $1,011,098.14. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William Wheaton sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $49.81, for a total transaction of $498,100.00. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC raised its position in Akamai Technologies by 9.0% in the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after purchasing an additional 168 shares during the last quarter. Westwood Holdings Group Inc. bought a new position in Akamai Technologies in the 2nd quarter worth approximately $117,000. BB&T Investment Services Inc. bought a new position in Akamai Technologies in the 2nd quarter worth approximately $119,000. FTB Advisors Inc. raised its position in Akamai Technologies by 2.4% in the 2nd quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after purchasing an additional 59 shares during the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Akamai Technologies by 79.4% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,332 shares of the technology infrastructure company’s stock worth $139,000 after purchasing an additional 1,032 shares during the last quarter. Hedge funds and other institutional investors own 84.49% 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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