Equities research analysts expect that Akamai Technologies, Inc. (NASDAQ:AKAM) will announce $701.70 million in sales for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for Akamai Technologies’ earnings, with estimates ranging from $698.24 million to $706.30 million. Akamai Technologies posted sales of $669.63 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.8%. The business is scheduled to issue its next quarterly earnings results on Monday, November 4th.

According to Zacks, analysts expect that Akamai Technologies will report full-year sales of $2.86 billion for the current financial year, with estimates ranging from $2.85 billion to $2.87 billion. For the next fiscal year, analysts expect that the business will report sales of $3.07 billion, with estimates ranging from $3.02 billion to $3.11 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Akamai Technologies.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, July 30th. The technology infrastructure company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.30. The business had revenue of $705.07 million for the quarter, compared to the consensus estimate of $695.88 million. Akamai Technologies had a return on equity of 16.32% and a net margin of 15.12%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 EPS.

AKAM has been the topic of several recent research reports. ValuEngine cut shares of Akamai Technologies from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Morgan Stanley boosted their price target on shares of Akamai Technologies from $94.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Oppenheimer upped their price target on shares of Akamai Technologies from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Credit Suisse Group upped their price target on shares of Akamai Technologies from $75.00 to $81.00 and gave the stock a “sell” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada set a $83.00 price objective on shares of Akamai Technologies and gave the company a “hold” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Akamai Technologies presently has a consensus rating of “Buy” and an average price target of $87.81.

In related news, CFO Edward J. Mcgowan sold 3,247 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $89.08, for a total transaction of $289,242.76. Following the transaction, the chief financial officer now directly owns 8,795 shares of the company’s stock, valued at approximately $783,458.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Adam Karon sold 3,500 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $85.00, for a total value of $297,500.00. Following the completion of the sale, the executive vice president now owns 9,418 shares of the company’s stock, valued at $800,530. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. River & Mercantile Asset Management LLP acquired a new stake in Akamai Technologies in the 2nd quarter worth approximately $4,375,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Akamai Technologies during the 2nd quarter valued at approximately $239,000. Hancock Whitney Corp increased its stake in Akamai Technologies by 37.9% during the 2nd quarter. Hancock Whitney Corp now owns 27,369 shares of the technology infrastructure company’s stock valued at $2,193,000 after purchasing an additional 7,526 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in Akamai Technologies by 1.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 67,130 shares of the technology infrastructure company’s stock valued at $5,380,000 after purchasing an additional 640 shares in the last quarter. Finally, Verition Fund Management LLC raised its holdings in shares of Akamai Technologies by 10.9% in the second quarter. Verition Fund Management LLC now owns 32,850 shares of the technology infrastructure company’s stock worth $2,633,000 after buying an additional 3,237 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Shares of AKAM stock traded up $1.32 on Friday, hitting $89.60. The stock had a trading volume of 1,232,593 shares, compared to its average volume of 1,302,694. Akamai Technologies has a one year low of $57.18 and a one year high of $93.12. The business has a 50 day moving average price of $87.58 and a 200 day moving average price of $79.28. The company has a market cap of $14.57 billion, a PE ratio of 32.46, a P/E/G ratio of 1.84 and a beta of 0.62. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.35.

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. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.

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