Today: The Akamai Technologies Inc. (AKAM) to Post FY2016 Earnings of $2.13 Per Share, DA Davidson Forecasts

The Akamai Technologies Inc. (AKAM) to Post FY2016 Earnings of $2.13 Per Share, DA Davidson Forecasts

Akamai Technologies Inc. (NASDAQ:AKAM) – DA Davidson boosted their FY2016 earnings per share estimates for Akamai Technologies in a research report issued on Wednesday. DA Davidson analyst M. Kelleher now forecasts that the brokerage will post earnings per share of $2.13 for the year, up from their prior estimate of $2.08.

A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Akamai Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Wells Fargo & Co. raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $59.20 to $51.41 in a report on Friday, August 12th. Mizuho reissued a “buy” rating and set a $65.00 target price on shares of Akamai Technologies in a report on Monday, October 3rd. Pacific Crest reissued a “hold” rating on shares of Akamai Technologies in a report on Tuesday, August 2nd. Finally, KeyCorp cut shares of Akamai Technologies to an “overweight” rating in a report on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Akamai Technologies currently has a consensus rating of “Hold” and an average price target of $63.97.

Shares of Akamai Technologies (NASDAQ:AKAM) opened at 69.91 on Monday. The stock has a market cap of $12.16 billion, a P/E ratio of 39.70 and a beta of 1.49. Akamai Technologies has a one year low of $39.43 and a one year high of $70.10. The firm has a 50 day moving average of $55.18 and a 200 day moving average of $53.70.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, October 25th. The technology infrastructure company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. The firm had revenue of $584.10 million for the quarter, compared to the consensus estimate of $571.92 million. Akamai Technologies had a net margin of 13.59% and a return on equity of 11.61%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 earnings per share.

In other news, EVP James Gemmell sold 1,869 shares of Akamai Technologies stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $67.79, for a total value of $126,699.51. Following the transaction, the executive vice president now owns 7,148 shares of the company’s stock, valued at $484,562.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Rick M. Mcconnell sold 20,000 shares of Akamai Technologies stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $67.50, for a total transaction of $1,350,000.00. Following the completion of the transaction, the insider now directly owns 38,482 shares in the company, valued at approximately $2,597,535. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC raised its position in Akamai Technologies by 100.0% in the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the technology infrastructure company’s stock worth $101,000 after buying an additional 900 shares in the last quarter. Advisory Services Network LLC raised its position in Akamai Technologies by 10.6% in the second quarter. Advisory Services Network LLC now owns 1,825 shares of the technology infrastructure company’s stock worth $102,000 after buying an additional 175 shares in the last quarter. Mizuho Asset Management Co. Ltd. raised its position in Akamai Technologies by 142.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,659 shares of the technology infrastructure company’s stock worth $149,000 after buying an additional 1,562 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Akamai Technologies by 10.0% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,750 shares of the technology infrastructure company’s stock worth $154,000 after buying an additional 250 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its position in Akamai Technologies by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,834 shares of the technology infrastructure company’s stock worth $159,000 after buying an additional 24 shares in the last quarter. 89.73% of the stock is currently owned by institutional investors.

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