Today: Today, Akamai Technologies Inc. (AKAM) Forecasted to Post Q4 2016 Earnings of $0.52 Per Share

Today, Akamai Technologies Inc. (AKAM) Forecasted to Post Q4 2016 Earnings of $0.52 Per Share

Akamai Technologies Inc. (NASDAQ:AKAM) – Oppenheimer Holdings decreased their Q4 2016 earnings per share (EPS) estimates for shares of Akamai Technologies in a research report issued to clients and investors on Friday. Oppenheimer Holdings analyst T. Horan now anticipates that the firm will earn $0.52 per share for the quarter, down from their prior forecast of $0.53.

Other analysts also recently issued research reports about the stock. MKM Partners reiterated a “buy” rating and issued a $68.00 price objective on shares of Akamai Technologies in a report on Saturday, July 9th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Akamai Technologies in a report on Sunday, July 17th. B. Riley reiterated a “buy” rating and issued a $62.00 price objective on shares of Akamai Technologies in a report on Monday, August 1st. FBR & Co cut their price objective on shares of Akamai Technologies from $43.00 to $42.00 and set an “underperform” rating for the company in a report on Wednesday, July 27th. Finally, Piper Jaffray Cos. cut their price objective on shares of Akamai Technologies from $69.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Akamai Technologies currently has an average rating of “Hold” and an average price target of $61.50.

Akamai Technologies (NASDAQ:AKAM) opened at 54.94 on Monday. Akamai Technologies has a 12 month low of $39.43 and a 12 month high of $76.39. The stock has a market cap of $9.60 billion, a price-to-earnings ratio of 30.15 and a beta of 1.49. The firm’s 50 day moving average price is $53.53 and its 200 day moving average price is $53.20.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, July 26th. The technology infrastructure company reported $0.64 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.64. Akamai Technologies had a return on equity of 11.82% and a net margin of 14.31%. The company had revenue of $572 million for the quarter, compared to analysts’ expectations of $574.86 million. During the same period in the previous year, the firm posted $0.57 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis.

In other news, CEO F Thomson Leighton acquired 19,003 shares of Akamai Technologies stock in a transaction that occurred on Monday, August 15th. The shares were acquired at an average price of $52.61 per share, with a total value of $999,747.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Gemmell sold 1,869 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $50.45, for a total transaction of $94,291.05. Following the transaction, the executive vice president now directly owns 7,148 shares in the company, valued at approximately $360,616.60. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of AKAM. Acrospire Investment Management LLC raised its position in shares of 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 valued at $101,000 after buying an additional 900 shares during the period. Advisory Services Network LLC raised its position in shares of 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 valued at $102,000 after buying an additional 175 shares during the period. Mizuho Asset Management Co. Ltd. raised its position in shares of 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 valued at $149,000 after buying an additional 1,562 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of 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 valued at $154,000 after buying an additional 250 shares during the period. Finally, Checchi Capital Advisers LLC raised its position in shares of 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 valued at $159,000 after buying an additional 24 shares during the period. 89.89% of the stock is owned by hedge funds and other institutional investors.

About Akamai Technologies

Related posts

Leave a Comment