Q3 2017 EPS Estimates for Akamai Technologies, Inc. Lowered by SunTrust Banks (AKAM)

Akamai Technologies, Inc. (NASDAQ:AKAM) – Stock analysts at SunTrust Banks dropped their Q3 2017 earnings per share (EPS) estimates for Akamai Technologies in a research note issued on Wednesday. SunTrust Banks analyst G. Miller now anticipates that the firm will post earnings per share of $0.57 for the quarter, down from their prior forecast of $0.58. SunTrust Banks also issued estimates for Akamai Technologies’ Q4 2017 earnings at $0.62 EPS, FY2017 earnings at $2.25 EPS, Q1 2018 earnings at $0.56 EPS, Q2 2018 earnings at $0.61 EPS and FY2018 earnings at $2.56 EPS.

Other research analysts have also issued reports about the company. B. Riley reiterated a “buy” rating and issued a $75.00 price objective on shares of Akamai Technologies in a research report on Tuesday, November 1st. Zacks Investment Research upgraded Akamai Technologies from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Tuesday, December 6th. MKM Partners reiterated a “buy” rating and issued a $65.00 price objective on shares of Akamai Technologies in a research report on Sunday, October 23rd. Deutsche Bank AG raised their price target on Akamai Technologies from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, October 26th. Finally, Guggenheim assumed coverage on Akamai Technologies in a research report on Thursday, December 22nd. They set a “buy” rating and a $75.00 price target for the company. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $67.51.

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

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Shares of Akamai Technologies (NASDAQ:AKAM) opened at 63.60 on Monday. Akamai Technologies has a 52 week low of $47.80 and a 52 week high of $71.64. The company has a 50-day moving average price of $68.25 and a 200-day moving average price of $60.99. The company has a market capitalization of $11.00 billion, a PE ratio of 35.53 and a beta of 0.95.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, February 7th. The technology infrastructure company reported $0.72 earnings per share (EPS) for the quarter, beating 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 business had revenue of $616 million for the quarter, compared to analysts’ expectations of $605.57 million. During the same period in the previous year, the business posted $0.72 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year.

In other news, CEO F Thomson Leighton purchased 14,828 shares of the firm’s stock in a transaction dated Thursday, December 15th. The shares were acquired at an average price of $67.43 per share, with a total value of $999,852.04. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul Sagan sold 23,258 shares of the business’s stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $64.84, for a total value of $1,508,048.72. Following the sale, the director now directly owns 65,080 shares in the company, valued at approximately $4,219,787.20. The disclosure for this sale can be found here. Insiders have sold a total of 46,386 shares of company stock worth $3,058,604 in the last three months. Corporate insiders own 2.70% of the company’s stock.

This report was first published by sleekmoney and is the sole property of of sleekmoney. If you are viewing this report on another publication, it was copied illegally and republished in violation of United States and international copyright law. The correct version of this report can be viewed at http://sleekmoney.com/q3-2017-eps-estimates-for-akamai-technologies-inc-lowered-by-suntrust-banks-akam/1660066.html.

Several large investors have recently made changes to their positions in the company. Acrospire Investment Management LLC raised its stake in shares of 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 valued at $111,000 after buying an additional 300 shares during the period. Massmutual Trust Co. FSB ADV purchased a new stake in shares of Akamai Technologies during the fourth quarter valued at approximately $134,000. Parallel Advisors LLC purchased a new stake in shares of Akamai Technologies during the fourth quarter valued at approximately $140,000. Private Advisor Group LLC purchased a new stake in shares of Akamai Technologies during the fourth quarter valued at approximately $205,000. Finally, Wall Street Associates purchased a new stake in shares of Akamai Technologies during the fourth quarter valued at approximately $220,000. 91.07% of the stock is currently owned by institutional investors and hedge funds.

About Akamai Technologies

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

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