Wall Street analysts expect that Akamai Technologies, Inc. (NASDAQ:AKAM) will announce $663.63 million in sales for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have provided estimates for Akamai Technologies’ earnings, with the highest sales estimate coming in at $670.11 million and the lowest estimate coming in at $661.90 million. Akamai Technologies posted sales of $621.40 million in the same quarter last year, which suggests a positive year over year growth rate of 6.8%. The firm is expected to issue its next earnings report on Tuesday, October 23rd.

According to Zacks, analysts expect that Akamai Technologies will report full-year sales of $2.70 billion for the current fiscal year, with estimates ranging from $2.69 billion to $2.72 billion. For the next fiscal year, analysts expect that the business will post sales of $2.93 billion per share, with estimates ranging from $2.87 billion to $2.96 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Akamai Technologies.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings results on Tuesday, July 31st. The technology infrastructure company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.03. The company had revenue of $663.00 million for the quarter, compared to the consensus estimate of $661.13 million. Akamai Technologies had a return on equity of 10.63% and a net margin of 6.74%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $0.62 EPS.

Several equities research analysts have weighed in on AKAM shares. B. Riley cut their price target on Akamai Technologies from $99.00 to $97.00 and set a “$79.75” rating on the stock in a research report on Monday, July 23rd. TheStreet raised Akamai Technologies from a “c+” rating to a “b-” rating in a research report on Wednesday, May 9th. Zacks Investment Research raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Friday, May 4th. ValuEngine raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, JPMorgan Chase & Co. increased their price target on Akamai Technologies from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, May 1st. Thirteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $75.87.

Shares of AKAM opened at $72.00 on Tuesday. The stock has a market cap of $12.66 billion, a price-to-earnings ratio of 36.07, a P/E/G ratio of 2.09 and a beta of 0.54. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.19 and a current ratio of 2.19. Akamai Technologies has a fifty-two week low of $44.65 and a fifty-two week high of $83.08.

In related news, Director Paul Sagan sold 39,092 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $75.19, for a total value of $2,939,327.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Aaron Ahola sold 4,500 shares of the firm’s stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $74.00, for a total transaction of $333,000.00. Following the completion of the transaction, the senior vice president now directly owns 8,578 shares in the company, valued at $634,772. The disclosure for this sale can be found here. Over the last three months, insiders have sold 158,190 shares of company stock worth $12,118,375. Corporate insiders own 3.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of AKAM. IFP Advisors Inc lifted its stake in Akamai Technologies by 143.4% in the 1st quarter. IFP Advisors Inc now owns 1,743 shares of the technology infrastructure company’s stock valued at $124,000 after buying an additional 1,027 shares in the last quarter. Whittier Trust Co. lifted its stake in Akamai Technologies by 61.7% in the 2nd quarter. Whittier Trust Co. now owns 2,266 shares of the technology infrastructure company’s stock valued at $138,000 after buying an additional 865 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in Akamai Technologies in the 2nd quarter valued at about $142,000. Synovus Financial Corp purchased a new position in Akamai Technologies in the 1st quarter valued at about $188,000. Finally, Cornerstone Wealth Management LLC purchased a new position in Akamai Technologies in the 2nd quarter valued at about $200,000. 87.56% of the stock is currently owned by hedge funds and other institutional investors.

About Akamai Technologies

Akamai Technologies, Inc provides cloud services for delivering, optimizing, and securing content and business applications over the Internet in the United States and internationally. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.

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

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