Wall Street analysts forecast that Akamai Technologies, Inc. (NASDAQ:AKAM) will report $654.02 million in sales for the current fiscal quarter, Zacks reports. Eleven analysts have provided estimates for Akamai Technologies’ earnings. The highest sales estimate is $664.87 million and the lowest is $649.40 million. Akamai Technologies posted sales of $609.24 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.4%. The firm is expected to issue its next earnings results after the market closes on Monday, April 30th.
According to Zacks, analysts expect that Akamai Technologies will report full year sales of $2.70 billion for the current year, with estimates ranging from $2.67 billion to $2.78 billion. For the next financial year, analysts forecast that the business will report sales of $2.94 billion per share, with estimates ranging from $2.88 billion to $3.13 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Akamai Technologies.
Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.63 by $0.06. The firm had revenue of $663.50 million for the quarter, compared to the consensus estimate of $649.08 million. Akamai Technologies had a net margin of 8.72% and a return on equity of 9.90%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS.
In other Akamai Technologies news, EVP James Gemmell sold 8,430 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $67.00, for a total transaction of $564,810.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider William Wheaton sold 5,000 shares of the firm’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the sale, the insider now directly owns 39,465 shares of the company’s stock, valued at approximately $2,762,550. The disclosure for this sale can be found here. Insiders have sold a total of 34,427 shares of company stock valued at $2,388,359 in the last ninety days. Insiders own 3.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in AKAM. Hexavest Inc. acquired a new stake in shares of Akamai Technologies during the fourth quarter worth $39,344,000. Clearbridge Investments LLC lifted its holdings in shares of Akamai Technologies by 5.5% during the fourth quarter. Clearbridge Investments LLC now owns 9,105,713 shares of the technology infrastructure company’s stock worth $592,236,000 after buying an additional 474,271 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Akamai Technologies by 374.8% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 583,988 shares of the technology infrastructure company’s stock worth $37,983,000 after buying an additional 460,980 shares in the last quarter. Element Capital Management LLC acquired a new stake in shares of Akamai Technologies during the fourth quarter worth $24,754,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Akamai Technologies during the fourth quarter worth $17,747,000. 89.30% of the stock is owned by institutional investors and hedge funds.
AKAM stock traded up $0.62 during mid-day trading on Friday, hitting $72.26. 120,746 shares of the company were exchanged, compared to its average volume of 1,777,416. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.82 and a current ratio of 2.82. The company has a market capitalization of $12,141.51, a P/E ratio of 38.02, a price-to-earnings-growth ratio of 2.51 and a beta of 0.67. Akamai Technologies has a 1-year low of $44.65 and a 1-year high of $78.28.
Akamai Technologies declared that its board has authorized a stock repurchase plan on Thursday, March 8th that permits the company to repurchase $417.00 million in shares. This repurchase authorization permits the technology infrastructure company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
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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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