FY2016 EPS Estimates for Akamai Technologies Inc. (AKAM) Reduced by Analyst
Akamai Technologies Inc. (NASDAQ:AKAM) – Research analysts at Credit Agricole SA cut their FY2016 earnings estimates for Akamai Technologies in a note issued to investors on Tuesday. Credit Agricole SA analyst E. Maguire now expects that the firm will post earnings per share of $2.10 for the year, down from their previous estimate of $2.12. Credit Agricole SA also issued estimates for Akamai Technologies’ Q4 2016 earnings at $0.56 EPS, Q4 2017 earnings at $0.67 EPS, FY2017 earnings at $2.46 EPS, Q1 2018 earnings at $0.70 EPS, Q2 2018 earnings at $0.72 EPS and FY2018 earnings at $3.03 EPS.
Several other equities analysts also recently commented on the company. Wells Fargo & Co. upgraded Akamai Technologies from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $59.20 to $51.41 in a research report on Friday, August 12th. Zacks Investment Research upgraded Akamai Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, September 27th. Mizuho reiterated a “buy” rating and issued a $65.00 price objective on shares of Akamai Technologies in a research report on Monday. Pacific Crest reiterated a “hold” rating on shares of Akamai Technologies in a research report on Tuesday, August 2nd. Finally, KeyCorp downgraded Akamai Technologies to an “overweight” rating in a research report on Wednesday, July 27th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $61.50.
Akamai Technologies (NASDAQ:AKAM) traded up 1.08% during trading on Wednesday, hitting $55.23. The company had a trading volume of 914,559 shares. The firm has a 50-day moving average of $53.15 and a 200 day moving average of $53.23. Akamai Technologies has a 12-month low of $39.43 and a 12-month high of $76.39. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of 30.31 and a beta of 1.49.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings results on Tuesday, July 26th. The technology infrastructure company reported $0.64 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.64. Akamai Technologies had a return on equity of 11.82% and a net margin of 14.31%. The business earned $572 million during the quarter, compared to analyst estimates of $574.86 million. During the same quarter last year, the company posted $0.57 EPS. Akamai Technologies’s revenue for the quarter was up 5.8% on a year-over-year basis.
Institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its position in Akamai Technologies by 108.5% in the third quarter. BNP Paribas Arbitrage SA now owns 125,445 shares of the technology infrastructure company’s stock valued at $6,647,000 after buying an additional 65,276 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Akamai Technologies during the second quarter valued at approximately $397,000. Kentucky Retirement Systems purchased a new position in Akamai Technologies during the second quarter valued at approximately $835,000. Mason Street Advisors LLC purchased a new position in Akamai Technologies during the second quarter valued at approximately $1,323,000. Finally, Gagnon Securities LLC increased its position in Akamai Technologies by 0.5% in the second quarter. Gagnon Securities LLC now owns 18,727 shares of the technology infrastructure company’s stock valued at $1,047,000 after buying an additional 100 shares during the last quarter. 89.88% of the stock is currently owned by institutional investors.
In other news, insider Rick M. Mcconnell sold 3,550 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $58.00, for a total value of $205,900.00. Following the transaction, the insider now owns 48,926 shares of the company’s stock, valued at $2,837,708. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Sagan sold 23,255 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $51.33, for a total value of $1,193,679.15. Following the completion of the transaction, the director now directly owns 65,077 shares in the company, valued at approximately $3,340,402.41. The disclosure for this sale can be found here. 2.70% of the stock is owned by company 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.
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