$663.26 Million in Sales Expected for Akamai Technologies, Inc. (AKAM) This Quarter

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Wall Street analysts expect that Akamai Technologies, Inc. (NASDAQ:AKAM) will report sales of $663.26 million for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have provided estimates for Akamai Technologies’ earnings. The highest sales estimate is $670.11 million and the lowest is $657.88 million. Akamai Technologies posted sales of $621.40 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.7%. The firm is expected to issue its next earnings results after the market closes on Monday, October 29th.

On average, analysts expect that Akamai Technologies will report full year sales of $2.70 billion for the current fiscal year, with estimates ranging from $2.69 billion to $2.72 billion. For the next fiscal year, analysts expect that the business will report sales of $2.92 billion, with estimates ranging from $2.87 billion to $2.96 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Akamai Technologies.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Tuesday, July 31st. The technology infrastructure company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.03. The company had revenue of $663.00 million for the quarter, compared to analysts’ expectations of $661.13 million. Akamai Technologies had a net margin of 6.74% and a return on equity of 10.63%. Akamai Technologies’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 earnings per share.

Several research analysts recently weighed in on the stock. Credit Suisse Group restated a “neutral” rating and issued a $84.00 price objective (down from $88.00) on shares of Akamai Technologies in a research report on Monday, August 13th. TheStreet cut shares of Akamai Technologies from a “b-” rating to a “c+” rating in a research report on Friday, August 10th. ValuEngine cut shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. DA Davidson upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $82.00 to $93.00 in a research report on Monday, September 10th. Finally, BidaskClub cut shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $79.47.

In other news, SVP Aaron Ahola sold 1,123 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $73.63, for a total value of $82,686.49. Following the transaction, the senior vice president now owns 4,035 shares in the company, valued at $297,097.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Blumofe sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $71.20, for a total transaction of $284,800.00. Following the completion of the transaction, the executive vice president now owns 19,951 shares in the company, valued at approximately $1,420,511.20. The disclosure for this sale can be found here. Insiders sold 44,215 shares of company stock worth $3,306,814 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Several institutional investors have recently modified their holdings of AKAM. Principal Financial Group Inc. grew its holdings in shares of Akamai Technologies by 1.5% in the first quarter. Principal Financial Group Inc. now owns 260,048 shares of the technology infrastructure company’s stock worth $18,458,000 after purchasing an additional 3,904 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Akamai Technologies by 80.5% in the first quarter. Commonwealth Equity Services LLC now owns 12,468 shares of the technology infrastructure company’s stock worth $884,000 after purchasing an additional 5,560 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Akamai Technologies by 5.9% in the first quarter. LPL Financial LLC now owns 78,209 shares of the technology infrastructure company’s stock worth $5,551,000 after purchasing an additional 4,386 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Akamai Technologies by 125.3% in the first quarter. Cubist Systematic Strategies LLC now owns 12,353 shares of the technology infrastructure company’s stock worth $877,000 after purchasing an additional 6,869 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Akamai Technologies by 146.5% in the first quarter. Millennium Management LLC now owns 221,824 shares of the technology infrastructure company’s stock worth $15,745,000 after purchasing an additional 131,837 shares during the last quarter. Hedge funds and other institutional investors own 85.66% of the company’s stock.

Shares of AKAM stock traded down $1.32 during trading on Friday, hitting $61.97. The company had a trading volume of 1,617,021 shares, compared to its average volume of 1,859,625. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.25. The stock has a market cap of $11.05 billion, a price-to-earnings ratio of 32.62, a price-to-earnings-growth ratio of 1.80 and a beta of 0.47. Akamai Technologies has a 52 week low of $51.79 and a 52 week high of $83.08.

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. The company offers Web and mobile performance solutions, such as Ion, a situational performance solution; Dynamic Site Accelerator that helps in consistent Website performance; Image Manager that automatically optimizes online images; CloudTest to conduct load testing and other analysis of Websites in a pre-production environment; mPulse that provides real-time Website performance data to provide insight about end-user experiences on a Website; and Global Traffic Management, a fault-tolerant solution.

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