Akamai Technologies, Inc. to Post FY2018 Earnings of $1.88 Per Share, KeyCorp Forecasts (AKAM)
Akamai Technologies, Inc. (NASDAQ:AKAM) – Equities researchers at KeyCorp raised their FY2018 earnings estimates for Akamai Technologies in a report released on Wednesday. KeyCorp analyst B. Nispel now expects that the technology infrastructure company will post earnings per share of $1.88 for the year, up from their previous forecast of $1.86. KeyCorp has a “Underweight” rating and a $51.00 price objective on the stock.
A number of other equities analysts also recently commented on AKAM. Guggenheim raised shares of 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 note on Monday, October 2nd. Instinet reaffirmed a “neutral” rating and set a $47.00 target price on shares of Akamai Technologies in a research note on Friday, October 6th. Wells Fargo & Co set a $57.00 target price on shares of Akamai Technologies and gave the stock a “hold” rating in a research note on Tuesday, October 10th. B. Riley reaffirmed a “buy” rating and set a $66.00 target price on shares of Akamai Technologies in a research note on Thursday, October 12th. Finally, DA Davidson set a $57.00 target price on shares of Akamai Technologies and gave the stock a “hold” rating in a research note on Thursday, October 12th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Akamai Technologies currently has an average rating of “Hold” and an average target price of $63.20.
Akamai Technologies (NASDAQ:AKAM) traded down $1.02 during trading hours on Monday, hitting $64.50. 3,753,800 shares of the stock traded hands, compared to its average volume of 2,860,000. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $10,910.00, a P/E ratio of 38.62, a P/E/G ratio of 2.65 and a beta of 0.68. Akamai Technologies has a 12-month low of $44.65 and a 12-month high of $71.34.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.03. The firm had revenue of $621.00 million for the quarter, compared to the consensus estimate of $610.66 million. Akamai Technologies had a net margin of 11.84% and a return on equity of 10.28%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share.
In other Akamai Technologies news, insider Rick M. Mcconnell sold 48,369 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $56.83, for a total transaction of $2,748,810.27. Following the completion of the transaction, the insider now owns 45,974 shares in the company, valued at approximately $2,612,702.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO F Thomson Leighton purchased 18,545 shares of the stock in a transaction on Wednesday, November 15th. The shares were purchased at an average price of $53.91 per share, with a total value of $999,760.95. Following the acquisition, the chief executive officer now directly owns 226,950 shares in the company, valued at $12,234,874.50. The disclosure for this purchase can be found here. Insiders sold 71,971 shares of company stock valued at $4,141,642 in the last 90 days. Company insiders own 3.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC grew its holdings in Akamai Technologies by 9.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,025 shares of the technology infrastructure company’s stock worth $101,000 after acquiring an additional 168 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in Akamai Technologies during the 2nd quarter worth approximately $117,000. BB&T Investment Services Inc. acquired a new position in Akamai Technologies during the 2nd quarter worth approximately $119,000. FTB Advisors Inc. grew its holdings in Akamai Technologies by 2.4% during the 2nd quarter. FTB Advisors Inc. now owns 2,538 shares of the technology infrastructure company’s stock worth $125,000 after acquiring an additional 59 shares in the last quarter. Finally, Griffin Asset Management Inc. acquired a new position in Akamai Technologies during the 2nd quarter worth approximately $209,000. Institutional investors own 86.36% of the company’s stock.
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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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