Wall Street brokerages forecast that Akamai Technologies, Inc. (NASDAQ:AKAM) will post $701.70 million in sales for the current fiscal quarter, according to Zacks. Ten analysts have provided estimates for Akamai Technologies’ earnings. The lowest sales estimate is $698.24 million and the highest is $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 firm is scheduled to issue its next 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 year, with estimates ranging from $2.85 billion to $2.87 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.07 billion, with estimates ranging from $3.02 billion to $3.11 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side 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 for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.30. The firm had revenue of $705.07 million during the quarter, compared to analysts’ expectations of $695.88 million. Akamai Technologies had a return on equity of 16.32% and a net margin of 15.12%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 earnings per share.
Akamai Technologies stock traded down $1.73 during mid-day trading on Friday, reaching $86.99. 896,836 shares of the stock traded hands, compared to its average volume of 2,108,636. The business’s 50-day moving average is $85.15 and its 200-day moving average is $77.43. Akamai Technologies has a 12-month low of $57.18 and a 12-month high of $90.76. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.95 and a quick ratio of 2.95. The stock has a market capitalization of $14.66 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 1.84 and a beta of 0.62.
In related news, EVP Adam Karon sold 8,000 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $77.00, for a total transaction of $616,000.00. Following the completion of the transaction, the executive vice president now directly owns 16,418 shares of the company’s stock, valued at $1,264,186. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Edward J. Mcgowan sold 3,247 shares of the 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 $783,458.60. The disclosure for this sale can be found here. Insiders have sold 18,247 shares of company stock valued at $1,482,743 in the last quarter. Insiders own 2.40% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Bessemer Group Inc. boosted its position in Akamai Technologies by 259.3% during the second quarter. Bessemer Group Inc. now owns 1,581 shares of the technology infrastructure company’s stock worth $126,000 after acquiring an additional 1,141 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Akamai Technologies by 0.9% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 42,139 shares of the technology infrastructure company’s stock valued at $3,022,000 after purchasing an additional 377 shares during the last quarter. Wakefield Asset Management LLLP boosted its holdings in shares of Akamai Technologies by 9.7% in the 1st quarter. Wakefield Asset Management LLLP now owns 33,902 shares of the technology infrastructure company’s stock valued at $2,431,000 after purchasing an additional 3,007 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of Akamai Technologies by 20.6% during the 1st quarter. Advisor Group Inc. now owns 56,209 shares of the technology infrastructure company’s stock valued at $4,030,000 after acquiring an additional 9,617 shares in the last quarter. Finally, S&CO Inc. acquired a new position in shares of Akamai Technologies during the 1st quarter valued at $513,000. 87.30% of the stock is owned by institutional investors and hedge funds.
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.
Featured Story: Producer Price Index (PPI)
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.