Akamai Technologies, Inc. (NASDAQ:AKAM) – Equities researchers at Oppenheimer Holdings reduced their FY2017 earnings per share (EPS) estimates for Akamai Technologies in a research note issued on Wednesday. Oppenheimer Holdings analyst T. Horan now anticipates that the technology infrastructure company will post earnings of $2.02 per share for the year, down from their prior estimate of $2.12. Oppenheimer Holdings also issued estimates for Akamai Technologies’ Q4 2017 earnings at $0.53 EPS, FY2018 earnings at $2.23 EPS and FY2019 earnings at $2.46 EPS.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, May 2nd. The technology infrastructure company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The firm had revenue of $609.24 million for the quarter, compared to the consensus estimate of $604.94 million. Akamai Technologies had a net margin of 13.51% and a return on equity of 11.45%.
Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Akamai Technologies from a “hold” rating to a “strong sell” rating in a research report on Monday. B. Riley reiterated a “buy” rating and issued a $66.00 price objective on shares of Akamai Technologies in a research report on Monday. Robert W. Baird lowered shares of Akamai Technologies from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $60.00 to $55.00 in a research report on Friday, May 5th. MKM Partners reiterated a “buy” rating and issued a $67.00 price objective (down from $79.00) on shares of Akamai Technologies in a research report on Thursday, May 4th. Finally, JMP Securities reiterated an “outperform” rating and issued a $75.00 price objective (down from $77.00) on shares of Akamai Technologies in a research report on Thursday, May 4th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $66.85.
Akamai Technologies (NASDAQ:AKAM) traded down 1.280% during trading on Monday, hitting $49.755. 1,692,695 shares of the stock traded hands. Akamai Technologies has a 52-week low of $47.80 and a 52-week high of $71.64. The stock has a market cap of $8.61 billion, a P/E ratio of 27.189 and a beta of 0.95. The company’s 50 day moving average price is $59.80 and its 200-day moving average price is $64.55.
In related news, EVP Melanie Haratunian sold 2,164 shares of the stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $63.83, for a total transaction of $138,128.12. Following the completion of the sale, the executive vice president now owns 80,785 shares of the company’s stock, valued at approximately $5,156,506.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James M. Benson sold 22,155 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $65.00, for a total transaction of $1,440,075.00. Following the sale, the chief financial officer now directly owns 64,200 shares of the company’s stock, valued at approximately $4,173,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,662 shares of company stock worth $8,814,645. Insiders own 2.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Advantage Investment Management LLC acquired a new stake in Akamai Technologies during the fourth quarter worth about $105,000. Acrospire Investment Management LLC increased its stake in Akamai Technologies by 16.7% in the third quarter. Acrospire Investment Management LLC now owns 2,100 shares of the technology infrastructure company’s stock worth $111,000 after buying an additional 300 shares during the period. Advisory Services Network LLC acquired a new stake in Akamai Technologies during the first quarter worth about $111,000. Massmutual Trust Co. FSB ADV acquired a new stake in Akamai Technologies during the fourth quarter worth about $134,000. Finally, Whittier Trust Co. increased its stake in 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 period. 91.07% of the stock is owned by hedge funds and other institutional investors.
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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