Akamai Technologies, Inc. (NASDAQ:AKAM) – Analysts at KeyCorp lowered their Q2 2018 earnings per share estimates for shares of Akamai Technologies in a note issued to investors on Tuesday, June 26th. KeyCorp analyst B. Nispel now forecasts that the technology infrastructure company will post earnings of $0.60 per share for the quarter, down from their prior forecast of $0.62. KeyCorp has a “Sector Weight” rating and a $57.00 price objective on the stock. KeyCorp also issued estimates for Akamai Technologies’ Q3 2018 earnings at $0.62 EPS, FY2018 earnings at $2.50 EPS and FY2019 earnings at $2.84 EPS.
Get Akamai Technologies alerts:Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Monday, April 30th. The technology infrastructure company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.70 by $0.09. The company had revenue of $669.00 million during the quarter, compared to the consensus estimate of $654.37 million. Akamai Technologies had a net margin of 7.46% and a return on equity of 10.04%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS.
Other analysts also recently issued research reports about the stock. Craig Hallum reaffirmed a “buy” rating and set a $91.00 price objective (up previously from $84.00) on shares of Akamai Technologies in a research report on Tuesday, May 1st. ValuEngine raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. BidaskClub downgraded shares of Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 18th. DA Davidson set a $80.00 price objective on shares of Akamai Technologies and gave the stock a “hold” rating in a research report on Tuesday, May 1st. Finally, SunTrust Banks raised their price objective on shares of Akamai Technologies to $78.00 and gave the stock a “hold” rating in a research report on Tuesday, May 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Akamai Technologies has an average rating of “Buy” and a consensus target price of $73.91.
Shares of AKAM stock opened at $72.48 on Friday. The company has a market cap of $12.36 billion, a PE ratio of 38.15, a P/E/G ratio of 2.05 and a beta of 0.64. Akamai Technologies has a 52 week low of $44.65 and a 52 week high of $83.08.
Large investors have recently modified their holdings of the business. IFP Advisors Inc lifted its stake in Akamai Technologies by 143.4% during the 1st quarter. IFP Advisors Inc now owns 1,743 shares of the technology infrastructure company’s stock valued at $124,000 after acquiring an additional 1,027 shares in the last quarter. Avestar Capital LLC bought a new position in Akamai Technologies during the 4th quarter valued at $131,000. We Are One Seven LLC bought a new position in Akamai Technologies during the 4th quarter valued at $160,000. Delpha Capital Management LLC bought a new position in Akamai Technologies during the 4th quarter valued at $177,000. Finally, Synovus Financial Corp bought a new position in Akamai Technologies during the 1st quarter valued at $188,000. Institutional investors and hedge funds own 91.44% of the company’s stock.
In other Akamai Technologies news, EVP Robert Blumofe sold 8,379 shares of the firm’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $70.81, for a total transaction of $593,316.99. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Rick M. Mcconnell sold 7,382 shares of the firm’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $72.64, for a total value of $536,228.48. Following the transaction, the insider now owns 25,052 shares in the company, valued at $1,819,777.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,879 shares of company stock worth $3,600,647. Company insiders own 3.20% of the company’s stock.
Akamai Technologies declared that its Board of Directors has authorized a stock repurchase plan on Thursday, March 8th that authorizes the company to buyback $417.00 million in outstanding shares. This buyback authorization authorizes the technology infrastructure company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
About Akamai Technologies
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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