Akamai Technologies, Inc. (NASDAQ:AKAM) – Research analysts at SunTrust Banks decreased their FY2017 earnings per share (EPS) estimates for Akamai Technologies in a report issued on Wednesday. SunTrust Banks analyst G. Miller now forecasts that the technology infrastructure company will post earnings of $1.90 per share for the year, down from their prior estimate of $1.96. SunTrust Banks has a “Hold” rating and a $82.00 price objective on the stock. SunTrust Banks also issued estimates for Akamai Technologies’ Q4 2017 earnings at $0.47 EPS, Q4 2018 earnings at $0.57 EPS and FY2018 earnings at $1.98 EPS.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, July 25th. The technology infrastructure company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. The company had revenue of $608.90 million during the quarter, compared to analysts’ expectations of $604.51 million. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. Akamai Technologies’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 earnings per share.
Several other analysts also recently commented on AKAM. B. Riley reissued a “buy” rating and set a $66.00 price objective on shares of Akamai Technologies in a research report on Wednesday, May 3rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $56.00 price target (down previously from $58.00) on shares of Akamai Technologies in a report on Wednesday, July 26th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $54.00 price target (down previously from $58.00) on shares of Akamai Technologies in a report on Wednesday, July 26th. Oppenheimer Holdings, Inc. dropped their price target on shares of Akamai Technologies from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, July 26th. Finally, MKM Partners reaffirmed a “buy” rating and set a $79.00 price target on shares of Akamai Technologies in a report on Monday, April 3rd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Akamai Technologies presently has an average rating of “Hold” and an average price target of $62.76.
In other news, Director Frederic V. Salerno bought 5,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were bought at an average price of $46.83 per share, for a total transaction of $234,150.00. Following the purchase, the director now owns 62,192 shares in the company, valued at $2,912,451.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO F Thomson Leighton bought 19,817 shares of the firm’s stock in a transaction on Friday, July 14th. The shares were purchased at an average price of $50.45 per share, for a total transaction of $999,767.65. Following the purchase, the chief executive officer now owns 205,861 shares in the company, valued at approximately $10,385,687.45. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 66,410 shares of company stock worth $3,233,594. 3.20% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the company. DnB Asset Management AS boosted its stake in Akamai Technologies by 14.0% in the first quarter. DnB Asset Management AS now owns 13,006 shares of the technology infrastructure company’s stock worth $776,000 after buying an additional 1,600 shares during the last quarter. Bank of Montreal Can boosted its stake in Akamai Technologies by 85.3% in the first quarter. Bank of Montreal Can now owns 126,646 shares of the technology infrastructure company’s stock worth $7,561,000 after buying an additional 58,293 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Akamai Technologies by 17.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,916 shares of the technology infrastructure company’s stock worth $831,000 after buying an additional 2,076 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in Akamai Technologies during the first quarter worth approximately $230,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Akamai Technologies during the fourth quarter worth approximately $374,000. Institutional investors own 87.42% of the company’s stock.
About Akamai Technologies
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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