Equities Analysts Offer Predictions for Akamai Technologies, Inc.’s Q1 2018 Earnings (AKAM)

Akamai Technologies, Inc. (NASDAQ:AKAM) – Equities researchers at DA Davidson lowered their Q1 2018 EPS estimates for Akamai Technologies in a research note issued to investors on Wednesday. DA Davidson analyst M. Kelleher now expects that the brokerage will earn $0.67 per share for the quarter, down from their previous estimate of $0.68.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, February 7th. The technology infrastructure company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.04. Akamai Technologies had a return on equity of 11.45% and a net margin of 13.51%. The company had revenue of $616 million for the quarter, compared to analysts’ expectations of $605.57 million. During the same quarter last year, the business earned $0.72 earnings per share. Akamai Technologies’s revenue was up 6.4% on a year-over-year basis.

ILLEGAL ACTIVITY WARNING: This report was posted by sleekmoney and is the property of of sleekmoney. If you are viewing this report on another website, it was copied illegally and republished in violation of US and international copyright & trademark law. The original version of this report can be accessed at http://sleekmoney.com/equities-analysts-offer-predictions-for-akamai-technologies-inc-s-q1-2018-earnings-akam/1656437.html.

Earnings History and Estimates for Akamai Technologies (NASDAQ:AKAM)

AKAM has been the topic of a number of other reports. FBR & Co upgraded Akamai Technologies from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $42.00 to $55.00 in a research note on Wednesday, October 26th. Deutsche Bank AG boosted their price objective on Akamai Technologies from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, October 26th. Piper Jaffray Companies reiterated a “buy” rating and set a $74.00 price objective on shares of Akamai Technologies in a research note on Wednesday. Wells Fargo & Company reiterated an “outperform” rating and set a $77.00 price objective (up from $73.00) on shares of Akamai Technologies in a research note on Wednesday, December 21st. Finally, Royal Bank Of Canada boosted their price objective on Akamai Technologies from $59.00 to $67.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $67.51.

Akamai Technologies (NASDAQ:AKAM) opened at 63.95 on Friday. The company has a 50 day moving average price of $68.37 and a 200-day moving average price of $60.80. The company has a market cap of $11.08 billion, a PE ratio of 35.73 and a beta of 0.95. Akamai Technologies has a 12 month low of $47.80 and a 12 month high of $71.64.

Hedge funds have recently bought and sold shares of the company. William Blair Investment Management LLC increased its position in Akamai Technologies by 19.7% in the second quarter. William Blair Investment Management LLC now owns 4,428,561 shares of the technology infrastructure company’s stock worth $247,689,000 after buying an additional 728,294 shares during the period. Airain ltd increased its position in Akamai Technologies by 219.5% in the second quarter. Airain ltd now owns 51,052 shares of the technology infrastructure company’s stock worth $2,855,000 after buying an additional 35,074 shares during the period. Obermeyer Wood Investment Counsel Lllp purchased a new position in Akamai Technologies during the second quarter worth about $26,058,000. New Amsterdam Partners LLC NY increased its position in Akamai Technologies by 14.7% in the second quarter. New Amsterdam Partners LLC NY now owns 6,747 shares of the technology infrastructure company’s stock worth $377,000 after buying an additional 865 shares during the period. Finally, Putnam FL Investment Management Co. increased its position in Akamai Technologies by 3.4% in the second quarter. Putnam FL Investment Management Co. now owns 179,985 shares of the technology infrastructure company’s stock worth $10,067,000 after buying an additional 5,977 shares during the period. 90.83% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: This report was posted by sleekmoney and is the property of of sleekmoney. If you are viewing this report on another website, it was copied illegally and republished in violation of US and international copyright & trademark law. The original version of this report can be accessed at http://sleekmoney.com/equities-analysts-offer-predictions-for-akamai-technologies-inc-s-q1-2018-earnings-akam/1656437.html.

In related news, EVP James Gemmell sold 2,297 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $63.83, for a total transaction of $146,617.51. Following the completion of the transaction, the executive vice president now owns 8,738 shares of the company’s stock, valued at approximately $557,746.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Melanie Haratunian sold 2,164 shares of Akamai Technologies stock in a transaction on Friday, February 10th. The stock was sold at an average price of $63.83, for a total value of $138,128.12. Following the completion of the sale, the executive vice president now directly owns 80,785 shares of the company’s stock, valued at approximately $5,156,506.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,386 shares of company stock valued at $3,058,604. 2.70% of the stock is owned by corporate insiders.

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’s across the globe distributed platform comprises approximately 200,000 servers in over 1,400 networks in over 120 countries. It is involved in offering content delivery network (CDN) services.

5 Day Chart for NASDAQ:AKAM

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/equities-analysts-offer-predictions-for-akamai-technologies-inc-s-q1-2018-earnings-akam/1656437.html

Receive News & Ratings for Akamai Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *