Brokerages expect Akamai Technologies, Inc. (NASDAQ:AKAM) to announce earnings of $0.70 per share for the current fiscal quarter, Zacks reports. Eleven analysts have provided estimates for Akamai Technologies’ earnings, with the lowest EPS estimate coming in at $0.68 and the highest estimate coming in at $0.75. Akamai Technologies reported earnings of $0.69 per share in the same quarter last year, which indicates a positive year over year growth rate of 1.4%. The business is scheduled to issue its next earnings results after the market closes on Monday, April 30th.

According to Zacks, analysts expect that Akamai Technologies will report full-year earnings of $3.02 per share for the current financial year, with EPS estimates ranging from $2.92 to $3.20. For the next year, analysts forecast that the company will post earnings of $3.57 per share, with EPS estimates ranging from $3.22 to $3.95. Zacks’ EPS averages are an average based on a survey of analysts that cover Akamai Technologies.

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Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.06. Akamai Technologies had a return on equity of 9.90% and a net margin of 8.72%. The company had revenue of $663.50 million during the quarter, compared to analysts’ expectations of $649.08 million. During the same quarter in the previous year, the firm posted $0.72 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year.

A number of brokerages have commented on AKAM. Credit Suisse Group lifted their price target on Akamai Technologies from $75.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Nomura lifted their price target on Akamai Technologies from $50.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. KeyCorp lifted their price target on Akamai Technologies from $51.00 to $57.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 7th. Deutsche Bank reaffirmed a “buy” rating and set a $75.00 price target on shares of Akamai Technologies in a research report on Wednesday, January 3rd. Finally, DA Davidson lifted their price target on Akamai Technologies from $57.00 to $64.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $69.96.

In related news, insider William Wheaton sold 5,000 shares of Akamai Technologies stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the transaction, the insider now owns 39,465 shares in the company, valued at approximately $2,762,550. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James Gemmell sold 8,430 shares of Akamai Technologies stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $67.00, for a total value of $564,810.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,427 shares of company stock valued at $2,388,359. 3.20% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its stake in shares of Akamai Technologies by 1.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 81,950 shares of the technology infrastructure company’s stock valued at $5,329,000 after purchasing an additional 788 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in shares of Akamai Technologies by 2.7% in the 4th quarter. GHP Investment Advisors Inc. now owns 31,445 shares of the technology infrastructure company’s stock valued at $2,045,000 after purchasing an additional 825 shares in the last quarter. Suntrust Banks Inc. increased its stake in shares of Akamai Technologies by 19.6% in the 4th quarter. Suntrust Banks Inc. now owns 5,054 shares of the technology infrastructure company’s stock valued at $328,000 after purchasing an additional 829 shares in the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Akamai Technologies by 2.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 32,822 shares of the technology infrastructure company’s stock valued at $2,135,000 after purchasing an additional 937 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Akamai Technologies by 4.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 27,513 shares of the technology infrastructure company’s stock worth $1,346,000 after buying an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

AKAM traded up $0.62 on Thursday, reaching $72.26. 120,746 shares of the stock were exchanged, compared to its average volume of 1,777,416. Akamai Technologies has a fifty-two week low of $44.65 and a fifty-two week high of $78.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.82 and a current ratio of 2.82. The stock has a market cap of $12,141.51, a P/E ratio of 38.02, a P/E/G ratio of 2.51 and a beta of 0.67.

Akamai Technologies declared that its Board of Directors has authorized a stock buyback plan on Thursday, March 8th that allows the company to repurchase $417.00 million in shares. This repurchase authorization allows the technology infrastructure company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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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 is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.

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

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