Analysts expect that Akamai Technologies, Inc. (NASDAQ:AKAM) will report $695.38 million in sales for the current quarter, Zacks Investment Research reports. Eleven analysts have provided estimates for Akamai Technologies’ earnings. The lowest sales estimate is $689.02 million and the highest is $701.00 million. Akamai Technologies reported sales of $662.76 million in the same quarter last year, which indicates a positive year over year growth rate of 4.9%. The business is scheduled to announce its next earnings results on Tuesday, July 30th.
According to Zacks, analysts expect that Akamai Technologies will report full-year sales of $2.85 billion for the current fiscal year, with estimates ranging from $2.81 billion to $2.86 billion. For the next financial year, analysts forecast that the firm will post sales of $3.05 billion, with estimates ranging from $2.98 billion to $3.10 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Akamai Technologies.
Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings results on Tuesday, April 30th. The technology infrastructure company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.79 by $0.09. The company had revenue of $706.51 million during the quarter, compared to analysts’ expectations of $698.33 million. Akamai Technologies had a return on equity of 15.29% and a net margin of 12.78%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 EPS.
AKAM has been the topic of several research reports. BidaskClub raised Akamai Technologies from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 30th. KeyCorp increased their price objective on Akamai Technologies from $80.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Evercore ISI started coverage on Akamai Technologies in a research note on Thursday, March 21st. They issued an “in-line” rating and a $70.00 price objective for the company. Credit Suisse Group reduced their price objective on Akamai Technologies from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, February 13th. Finally, Morgan Stanley increased their price objective on Akamai Technologies from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $82.47.
Shares of NASDAQ:AKAM traded up $1.19 during trading on Friday, reaching $79.09. 39,313 shares of the stock were exchanged, compared to its average volume of 1,290,632. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.19 and a current ratio of 3.19. Akamai Technologies has a 12-month low of $57.18 and a 12-month high of $86.19. The stock has a market capitalization of $12.61 billion, a P/E ratio of 28.62, a PEG ratio of 1.65 and a beta of 0.60.
In other Akamai Technologies news, CFO Edward J. Mcgowan sold 5,520 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $72.40, for a total value of $399,648.00. Following the sale, the chief financial officer now owns 15,134 shares of the company’s stock, valued at approximately $1,095,701.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Gemmell sold 10,356 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $70.37, for a total value of $728,751.72. Following the completion of the sale, the executive vice president now directly owns 11,504 shares in the company, valued at approximately $809,536.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,194 shares of company stock worth $6,237,808. Insiders own 2.40% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Focused Wealth Management Inc bought a new stake in shares of Akamai Technologies in the fourth quarter valued at about $29,000. Truvestments Capital LLC bought a new stake in Akamai Technologies in the first quarter worth $29,000. Liberty Wealth Management LLC bought a new stake in Akamai Technologies in the fourth quarter worth $32,000. Oregon Public Employees Retirement Fund lifted its stake in Akamai Technologies by 5,021.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,029,933 shares of the technology infrastructure company’s stock worth $33,000 after purchasing an additional 1,990,300 shares during the last quarter. Finally, Private Capital Group LLC lifted its stake in Akamai Technologies by 148.5% in the fourth quarter. Private Capital Group LLC now owns 661 shares of the technology infrastructure company’s stock worth $40,000 after purchasing an additional 395 shares during the last quarter. 88.56% of the stock is currently owned by hedge funds and other institutional investors.
Akamai Technologies Company Profile
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.
Recommended Story: What is a Real Estate Investment Trust (REIT)?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Akamai Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies and related companies with MarketBeat.com's FREE daily email newsletter.