Zacks: Analysts Anticipate Akamai Technologies, Inc. (AKAM) to Announce $0.83 Earnings Per Share

Brokerages expect that Akamai Technologies, Inc. (NASDAQ:AKAM) will report earnings of $0.83 per share for the current quarter, according to Zacks Investment Research. Eleven analysts have made estimates for Akamai Technologies’ earnings, with the highest EPS estimate coming in at $0.85 and the lowest estimate coming in at $0.82. Akamai Technologies posted earnings per share of $0.62 in the same quarter last year, which suggests a positive year-over-year growth rate of 33.9%. The company is scheduled to report its next earnings results after the market closes on Monday, October 29th.

According to Zacks, analysts expect that Akamai Technologies will report full year earnings of $3.35 per share for the current year, with EPS estimates ranging from $3.32 to $3.39. For the next year, analysts expect that the firm will report earnings of $3.81 per share, with EPS estimates ranging from $3.68 to $3.96. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Akamai Technologies.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, July 31st. The technology infrastructure company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. The company had revenue of $663.00 million during the quarter, compared to analyst estimates of $661.13 million. Akamai Technologies had a net margin of 6.74% and a return on equity of 10.63%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 EPS.

Several analysts recently commented on AKAM shares. BidaskClub raised shares of Akamai Technologies from a “strong sell” rating to a “sell” rating in a research note on Friday. Deutsche Bank cut their target price on shares of Akamai Technologies and set a “hold” rating for the company in a research note on Thursday, October 4th. ValuEngine lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Piper Jaffray Companies reissued a “buy” rating on shares of Akamai Technologies in a research note on Monday, October 1st. Finally, DA Davidson raised shares of Akamai Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $82.00 to $93.00 in a research note on Monday, September 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $78.67.

Shares of NASDAQ:AKAM opened at $64.50 on Friday. The company has a market capitalization of $11.13 billion, a PE ratio of 33.95, a P/E/G ratio of 1.82 and a beta of 0.47. Akamai Technologies has a twelve month low of $50.83 and a twelve month high of $83.08. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.25.

In other news, EVP Robert Blumofe sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $71.20, for a total transaction of $284,800.00. Following the sale, the executive vice president now owns 19,951 shares in the company, valued at $1,420,511.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Sagan sold 39,100 shares of the business’s stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $79.51, for a total transaction of $3,108,841.00. Following the sale, the director now owns 154,278 shares in the company, valued at approximately $12,266,643.78. The disclosure for this sale can be found here. Insiders have sold 88,315 shares of company stock worth $6,815,655 in the last 90 days. 3.20% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Aperio Group LLC increased its stake in Akamai Technologies by 3.6% in the 3rd quarter. Aperio Group LLC now owns 151,455 shares of the technology infrastructure company’s stock valued at $11,079,000 after buying an additional 5,257 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd increased its stake in Akamai Technologies by 42.4% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 692,336 shares of the technology infrastructure company’s stock valued at $50,644,000 after buying an additional 206,256 shares during the period. Nisa Investment Advisors LLC increased its stake in Akamai Technologies by 1.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 82,130 shares of the technology infrastructure company’s stock valued at $6,008,000 after buying an additional 1,050 shares during the period. First Hawaiian Bank acquired a new position in Akamai Technologies in the 3rd quarter valued at approximately $652,000. Finally, Sumitomo Mitsui Asset Management Company LTD increased its stake in Akamai Technologies by 13.6% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 15,260 shares of the technology infrastructure company’s stock valued at $1,116,000 after buying an additional 1,832 shares during the period. Institutional investors and hedge funds own 85.89% of the company’s stock.

About Akamai Technologies

Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.

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