Analysts Anticipate Akamai Technologies, Inc. (NASDAQ:AKAM) Will Announce Quarterly Sales of $701.70 Million

Equities analysts expect Akamai Technologies, Inc. (NASDAQ:AKAM) to post $701.70 million in sales for the current fiscal quarter, Zacks reports. Ten analysts have issued 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 posted sales of $669.63 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.8%. The firm is scheduled to issue its next earnings report after the market closes on Monday, October 28th.

On average, analysts expect that Akamai Technologies will report full year sales of $2.86 billion for the current year, with estimates ranging from $2.85 billion to $2.87 billion. For the next financial year, analysts anticipate that the company will post sales of $3.07 billion, with estimates ranging from $3.02 billion to $3.11 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Akamai Technologies.

Akamai Technologies (NASDAQ:AKAM) last announced its earnings results on Tuesday, July 30th. The technology infrastructure company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.30. The firm had revenue of $705.07 million during the quarter, compared to analyst estimates of $695.88 million. Akamai Technologies had a net margin of 15.12% and a return on equity of 16.32%. Akamai Technologies’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 EPS.

AKAM has been the subject of a number of recent analyst reports. DA Davidson reiterated a “buy” rating and issued a $95.00 target price on shares of Akamai Technologies in a research report on Friday, June 14th. Royal Bank of Canada set a $83.00 target price on shares of Akamai Technologies and gave the company a “hold” rating in a research report on Wednesday, July 31st. B. Riley set a $102.00 target price on shares of Akamai Technologies and gave the company a “buy” rating in a research report on Monday, September 9th. BidaskClub upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 27th. Finally, ValuEngine lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $87.81.

In other Akamai Technologies news, EVP Aaron Ahola sold 3,117 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $90.24, for a total transaction of $281,278.08. Following the completion of the sale, the executive vice president now directly owns 4,109 shares of the company’s stock, valued at $370,796.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Adam Karon sold 3,500 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $85.00, for a total transaction of $297,500.00. Following the sale, the executive vice president now directly owns 9,418 shares of the company’s stock, valued at $800,530. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,864 shares of company stock valued at $868,021. Insiders own 2.40% of the company’s stock.

A number of hedge funds have recently bought and sold shares of AKAM. Nuveen Asset Management LLC lifted its stake in Akamai Technologies by 37,980.9% during the second quarter. Nuveen Asset Management LLC now owns 4,030,480 shares of the technology infrastructure company’s stock valued at $323,002,000 after buying an additional 4,019,896 shares in the last quarter. Nordea Investment Management AB lifted its stake in Akamai Technologies by 340.9% during the first quarter. Nordea Investment Management AB now owns 1,824,655 shares of the technology infrastructure company’s stock valued at $130,846,000 after buying an additional 1,410,848 shares in the last quarter. AQR Capital Management LLC lifted its stake in Akamai Technologies by 15.1% during the second quarter. AQR Capital Management LLC now owns 5,061,401 shares of the technology infrastructure company’s stock valued at $402,178,000 after buying an additional 664,795 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Akamai Technologies by 5.1% during the first quarter. Clearbridge Investments LLC now owns 8,392,790 shares of the technology infrastructure company’s stock valued at $601,847,000 after buying an additional 410,681 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Akamai Technologies by 1.8% during the second quarter. Vanguard Group Inc. now owns 17,132,153 shares of the technology infrastructure company’s stock valued at $1,372,971,000 after buying an additional 307,796 shares in the last quarter. 87.27% of the stock is owned by institutional investors.

AKAM traded up $0.01 on Wednesday, reaching $90.91. The company had a trading volume of 1,031,155 shares, compared to its average volume of 1,353,773. The company has a fifty day moving average of $89.29 and a 200-day moving average of $81.49. The company has a market capitalization of $15.00 billion, a P/E ratio of 32.94, a PEG ratio of 1.90 and a beta of 0.62. The company has a current ratio of 2.95, a quick ratio of 2.95 and a debt-to-equity ratio of 0.35. Akamai Technologies has a one year low of $57.18 and a one year high of $93.12.

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

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