Zacks: Brokerages Anticipates Akamai Technologies, Inc. (NASDAQ: AKAM) to Report Earnings of $ 1.42 Per Share
Brokerage firms expect Akamai Technologies, Inc. (NASDAQ: AKAM) to post earnings per share (EPS) of $ 1.42 for the current quarter, Zack reports. Seven analysts have estimated Akamai Technologies’ earnings. The lowest EPS estimate is $ 1.39 and the highest is $ 1.44. Akamai Technologies reported earnings per share of $ 1.33 for the same quarter last year, suggesting a positive growth rate of 6.8% year-over-year. The company is expected to announce its next earnings report on Tuesday, February 8.
On average, analysts predict that Akamai Technologies will report annual earnings of $ 5.67 per share for the current fiscal year, with EPS estimates ranging from $ 5.66 to $ 5.70. For next year, analysts predict the company will report earnings of $ 6.02 per share, with EPS estimates ranging from $ 5.67 to $ 6.52. Zacks earnings per share averages are an average based on a survey of analysts who cover Akamai Technologies.
Akamai Technologies (NASDAQ: AKAM) last released its quarterly results on Tuesday, November 2. The tech infrastructure company reported earnings per share of $ 1.45 for the quarter, beating Thomson Reuters’ consensus estimate of $ 1.39 of $ 0.06. Akamai Technologies reported a return on equity of 16.98% and a net margin of 17.77%. During the same period of the previous year, the company reported earnings per share of $ 1.11.
Several stock analysts recently commented on the title. The Royal Bank of Canada began hedging Akamai Technologies shares in a report on Thursday, October 14. They set an “outperform” rating and a price target of $ 140.00 for the stock. Morgan Stanley raised its price target for Akamai Technologies shares from $ 119.00 to $ 130.00 and gave the company an “equal weight” rating in a research report released on Wednesday, November 3. Oppenheimer downgraded Akamai Technologies shares from an “outperformance” rating to a “market performance” rating in a research report released on Monday, November 15. Finally, Needham & Company LLC reissued a “hold” rating on Akamai Technologies shares in a research report on Wednesday, November 3. Seven investment analysts rated the stock with a conservation rating and eight gave the stock a buy rating. According to MarketBeat data, the company currently has a consensus rating of “Buy” and a consensus target price of $ 127.73.
In other news, CTO Robert blumofe sold 6,000 shares of the company in a transaction dated Friday, October 29. The stock was sold for an average price of $ 104.15, for a total value of $ 624,900.00. The sale was disclosed in a legal file with the Securities & Exchange Commission, which is available at the SEC website. Additionally, Executive Vice President Anthony P. Williams sold 925 shares of the company in a transaction dated Monday, December 6. The stock was sold for an average price of $ 111.23, for a total value of $ 102,887.75. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 13,089 shares of the company valued at $ 1,406,567. Company insiders own 2.40% of the company’s shares.
A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Mutual Advisors LLC increased its stake in Akamai Technologies by 2.9% in the 2nd quarter. Mutual Advisors LLC now owns 3,324 shares of the technology infrastructure company valued at $ 388,000 after purchasing 93 additional shares during the period. Mutual of America Capital Management LLC increased its stake in Akamai Technologies by 0.4% in the 3rd quarter. Mutual of America Capital Management LLC now owns 21,365 shares of the technology infrastructure company valued at $ 2,235,000 after purchasing 94 additional shares during the period. Nicollet Investment Management Inc. increased its stake in Akamai Technologies by 0.5% in the 3rd quarter. Nicollet Investment Management Inc. now owns 19,886 shares of the technology infrastructure company valued at $ 2,080,000 after purchasing 96 additional shares during the period. Great Valley Advisor Group Inc. increased its stake in Akamai Technologies by 4.6% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 2,329 shares of the technology infrastructure company valued at $ 270,000 after purchasing 102 more shares in the last quarter. Finally, Menard Financial Group LLC increased its stake in Akamai Technologies by 4.0% during the second quarter. Menard Financial Group LLC now owns 2,887 shares of the technology infrastructure company valued at $ 337,000 after purchasing 111 more shares in the last quarter. 90.13% of the shares are held by institutional investors.
Akamai Technologies Actions opened at $ 113.01 on Friday. The company has a market cap of $ 18.36 billion, a PE ratio of 31.05, a price / earnings-growth ratio of 2.06, and a beta of 0.54. Akamai Technologies has a twelve month low of $ 92.64 and a twelve month high of $ 124.91. The company’s 50-day mobile average price is $ 108.34, and its 200-day mobile average price is $ 112.51. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt ratio of 0.43.
Akamai Technologies said its board of directors launched a share buyback program on Tuesday, November 2 that allows the company to repurchase $ 1.80 billion worth of shares. This buyback authorization authorizes the technology infrastructure company to buy back up to 10% of its shares through open market purchases. Share buyback programs typically indicate that company management believes its shares are undervalued.
Akamai Technologies Company Profile
Akamai Technologies, Inc is committed to providing cloud services for the delivery, optimization and security of content and business applications over the Internet. Its products include security, web performance, media streaming, and network operator. The company was founded by Frank T. Leighton, Jonathan Seelig, Randall S.
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