Equities research analysts forecast that Akamai Technologies, Inc. (NASDAQ:AKAM) will announce sales of $701.70 million for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Akamai Technologies’ earnings, with the highest sales estimate coming in at $706.30 million and the lowest estimate coming in at $698.24 million. Akamai Technologies reported sales of $669.63 million during the same quarter last year, which would indicate a positive year over year growth rate of 4.8%. The business is scheduled to issue its next quarterly earnings results on Monday, November 4th.
On average, analysts expect that Akamai Technologies will report full-year sales of $2.86 billion for the current fiscal year, with estimates ranging from $2.85 billion to $2.87 billion. For the next financial year, analysts anticipate that the firm will post sales of $3.07 billion, with estimates ranging from $3.02 billion to $3.11 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Akamai Technologies.
Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings data on Tuesday, July 30th. The technology infrastructure company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.30. Akamai Technologies had a net margin of 15.12% and a return on equity of 16.32%. The firm had revenue of $705.07 million for the quarter, compared to analyst estimates of $695.88 million. During the same quarter in the prior year, the firm earned $0.83 EPS. The company’s revenue was up 6.4% on a year-over-year basis.
Shares of NASDAQ:AKAM traded down $1.73 during mid-day trading on Friday, reaching $86.99. The stock had a trading volume of 896,836 shares, compared to its average volume of 2,108,636. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.35. The firm has a market cap of $14.66 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 1.84 and a beta of 0.62. The firm has a 50 day simple moving average of $85.15 and a two-hundred day simple moving average of $77.43. Akamai Technologies has a twelve month low of $57.18 and a twelve month high of $90.76.
In related news, CFO Edward J. Mcgowan sold 3,247 shares of Akamai Technologies stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $89.08, for a total value of $289,242.76. Following the completion of the sale, the chief financial officer now owns 8,795 shares of the company’s stock, valued at $783,458.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Adam Karon sold 3,500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $85.00, for a total value of $297,500.00. Following the sale, the executive vice president now directly owns 9,418 shares of the company’s stock, valued at approximately $800,530. The disclosure for this sale can be found here. Insiders sold 18,247 shares of company stock valued at $1,482,743 in the last 90 days. Company insiders own 2.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in Akamai Technologies by 259.3% during the second quarter. Bessemer Group Inc. now owns 1,581 shares of the technology infrastructure company’s stock valued at $126,000 after purchasing an additional 1,141 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Akamai Technologies by 0.9% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 42,139 shares of the technology infrastructure company’s stock valued at $3,022,000 after acquiring an additional 377 shares in the last quarter. Wakefield Asset Management LLLP boosted its position in Akamai Technologies by 9.7% during the 1st quarter. Wakefield Asset Management LLLP now owns 33,902 shares of the technology infrastructure company’s stock valued at $2,431,000 after acquiring an additional 3,007 shares in the last quarter. Advisor Group Inc. lifted its holdings in shares of Akamai Technologies by 20.6% during the 1st quarter. Advisor Group Inc. now owns 56,209 shares of the technology infrastructure company’s stock valued at $4,030,000 after purchasing an additional 9,617 shares during the last quarter. Finally, S&CO Inc. purchased a new stake in shares of Akamai Technologies during the 1st quarter valued at $513,000. 87.30% of the stock is owned by hedge funds and other institutional investors.
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. It provides cloud security solutions, including Web Application Protector to safeguard Web assets from Web application and distributed denial of service; Kona Site Defender, a cloud security solution; Bot Manager to identify bots and categorize bots based on business or IT impact; Fast DNS, which translates human-readable domain names into numerical IP addresses; Prolexic Routed to protect Web- and IP-based applications; and Client Reputation that assigns risk scores to malicious IP address and enables customers to take action on individual clients.
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