Q3 2017 EPS Estimates for Akamai Technologies, Inc. Cut by SunTrust Banks (NASDAQ:AKAM)

Akamai Technologies, Inc. (NASDAQ:AKAM) – Equities research analysts at SunTrust Banks cut their Q3 2017 earnings per share (EPS) estimates for Akamai Technologies in a note issued to investors on Wednesday. SunTrust Banks analyst G. Miller now anticipates that the technology infrastructure company will earn $0.43 per share for the quarter, down from their previous estimate of $0.47. SunTrust Banks currently has a “Hold” rating and a $82.00 price objective on the stock. SunTrust Banks also issued estimates for Akamai Technologies’ Q1 2018 earnings at $0.44 EPS, Q2 2018 earnings at $0.46 EPS and Q3 2018 earnings at $0.51 EPS.

Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, July 25th. The technology infrastructure company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The company had revenue of $608.90 million for the quarter, compared to analyst estimates of $604.51 million. Akamai Technologies had a net margin of 12.67% and a return on equity of 10.97%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $0.64 earnings per share. WARNING: “Q3 2017 EPS Estimates for Akamai Technologies, Inc. Cut by SunTrust Banks (NASDAQ:AKAM)” was originally posted by BBNS and is the sole property of of BBNS. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The correct version of this report can be read at https://baseballnewssource.com/markets/q3-2017-eps-estimates-for-akamai-technologies-inc-cut-by-suntrust-banks-nasdaqakam-updated-updated/1308972.html.

AKAM has been the topic of a number of other reports. Morgan Stanley lowered shares of Akamai Technologies from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $68.00 to $54.00 in a research note on Thursday, April 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $46.00 price objective (down from $52.00) on shares of Akamai Technologies in a research note on Friday, June 30th. Guggenheim lowered shares of Akamai Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $70.00 to $60.00 in a research note on Wednesday, May 3rd. Zacks Investment Research raised shares of Akamai Technologies from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 11th. Finally, Robert W. Baird lowered shares of Akamai Technologies from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $60.00 to $55.00 in a research note on Friday, May 5th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Akamai Technologies has a consensus rating of “Hold” and an average target price of $62.76.

Shares of Akamai Technologies (AKAM) opened at 46.89 on Friday. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 25.62 and a beta of 0.67. Akamai Technologies has a 12-month low of $45.41 and a 12-month high of $71.64. The firm has a 50-day moving average of $49.99 and a 200 day moving average of $57.61.

Hedge funds have recently made changes to their positions in the stock. CAPROCK Group Inc. purchased a new stake in shares of Akamai Technologies during the second quarter valued at approximately $264,000. CIBC Asset Management Inc increased its stake in shares of Akamai Technologies by 2.6% in the second quarter. CIBC Asset Management Inc now owns 26,065 shares of the technology infrastructure company’s stock valued at $1,298,000 after buying an additional 650 shares in the last quarter. Nicolet Bankshares Inc. increased its stake in shares of Akamai Technologies by 5.1% in the second quarter. Nicolet Bankshares Inc. now owns 5,390 shares of the technology infrastructure company’s stock valued at $268,000 after buying an additional 260 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its stake in shares of Akamai Technologies by 111.0% in the second quarter. Kornitzer Capital Management Inc. KS now owns 343,294 shares of the technology infrastructure company’s stock valued at $17,099,000 after buying an additional 180,565 shares in the last quarter. Finally, Reliance Trust Co. of Delaware increased its stake in shares of Akamai Technologies by 3.3% in the second quarter. Reliance Trust Co. of Delaware now owns 18,790 shares of the technology infrastructure company’s stock valued at $936,000 after buying an additional 607 shares in the last quarter. Institutional investors own 87.15% of the company’s stock.

In other news, Director Paul Sagan sold 17,889 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $49.53, for a total value of $886,042.17. Following the completion of the sale, the director now owns 64,147 shares in the company, valued at $3,177,200.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO F Thomson Leighton bought 21,196 shares of the stock in a transaction dated Wednesday, May 31st. The stock was purchased at an average price of $47.17 per share, with a total value of $999,815.32. Following the acquisition, the chief executive officer now owns 227,057 shares of the company’s stock, valued at $10,710,278.69. The disclosure for this purchase can be found here. In the last quarter, insiders bought 66,410 shares of company stock valued at $3,233,594. 3.20% of the stock is currently owned by corporate insiders.

Akamai Technologies Company Profile

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.

Earnings History and Estimates for Akamai Technologies (NASDAQ:AKAM)

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