Research Analysts Offer Predictions for Akamai Technologies Inc.’s Q4 2016 Earnings (AKAM)
Akamai Technologies Inc. (NASDAQ:AKAM) – Investment analysts at Oppenheimer Holdings lowered their Q4 2016 earnings per share (EPS) estimates for Akamai Technologies in a research report issued to clients and investors on Friday. Oppenheimer Holdings analyst T. Horan now anticipates that the firm will earn $0.52 per share for the quarter, down from their prior estimate of $0.53.
A number of other equities analysts also recently commented on AKAM. Zacks Investment Research downgraded Akamai Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. Mizuho reissued a “buy” rating and set a $65.00 target price on shares of Akamai Technologies in a research note on Monday, October 3rd. Wells Fargo & Co. raised 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 note on Friday, August 12th. Piper Jaffray Cos. reissued a “buy” rating and set a $64.00 target price on shares of Akamai Technologies in a research note on Tuesday, August 9th. Finally, Pacific Crest reissued a “hold” rating on shares of Akamai Technologies in a research note on Tuesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Akamai Technologies presently has an average rating of “Hold” and an average target price of $61.50.
Akamai Technologies (NASDAQ:AKAM) opened at 55.92 on Monday. The company’s 50-day moving average is $53.56 and its 200 day moving average is $53.21. The firm has a market cap of $9.77 billion, a PE ratio of 30.69 and a beta of 1.49. Akamai Technologies has a one year low of $39.43 and a one year high of $76.39.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, July 26th. The technology infrastructure company reported $0.64 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.64. Akamai Technologies had a net margin of 14.31% and a return on equity of 11.82%. The company earned $572 million during the quarter, compared to the consensus estimate of $574.86 million. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year.
A number of institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC boosted its position in shares of Akamai Technologies by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the technology infrastructure company’s stock worth $101,000 after buying an additional 900 shares in the last quarter. Advisory Services Network LLC boosted its stake in Akamai Technologies by 10.6% in the second quarter. Advisory Services Network LLC now owns 1,825 shares of the technology infrastructure company’s stock worth $102,000 after buying an additional 175 shares during the period. Mizuho Asset Management Co. Ltd. boosted its stake in Akamai Technologies by 142.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,659 shares of the technology infrastructure company’s stock worth $149,000 after buying an additional 1,562 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Akamai Technologies by 10.0% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,750 shares of the technology infrastructure company’s stock worth $154,000 after buying an additional 250 shares during the period. Finally, Checchi Capital Advisers LLC boosted its stake in Akamai Technologies by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,834 shares of the technology infrastructure company’s stock worth $159,000 after buying an additional 24 shares during the period. 89.89% of the stock is currently owned by hedge funds and other institutional investors.
In other Akamai Technologies news, Director Jill A. Greenthal sold 12,500 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $55.36, for a total value of $692,000.00. Following the transaction, the director now owns 46,162 shares of the company’s stock, valued at $2,555,528.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Melanie Haratunian sold 2,575 shares of the firm’s stock in a transaction dated Tuesday, October 18th. The stock was sold at an average price of $56.00, for a total transaction of $144,200.00. Following the completion of the transaction, the executive vice president now directly owns 91,699 shares in the company, valued at approximately $5,135,144. The disclosure for this sale can be found here. 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.
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