Akamai Technologies, Inc. (NASDAQ:AKAM) – Stock analysts at Piper Jaffray Companies boosted their Q2 2019 earnings estimates for Akamai Technologies in a research note issued on Tuesday, April 30th. Piper Jaffray Companies analyst A. Nowinski now expects that the technology infrastructure company will post earnings per share of $0.78 for the quarter, up from their previous estimate of $0.74. Piper Jaffray Companies currently has a “Overweight” rating and a $96.00 target price on the stock. Piper Jaffray Companies also issued estimates for Akamai Technologies’ FY2019 earnings at $3.25 EPS, Q1 2020 earnings at $0.87 EPS, Q2 2020 earnings at $0.85 EPS and Q3 2020 earnings at $0.97 EPS.
Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, April 30th. The technology infrastructure company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.09. The business had revenue of $706.51 million for the quarter, compared to analyst estimates of $698.33 million. Akamai Technologies had a return on equity of 15.29% and a net margin of 12.78%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the company posted $0.79 EPS.
Several other research analysts have also weighed in on AKAM. Zacks Investment Research lowered Akamai Technologies from a “buy” rating to a “sell” rating in a research report on Tuesday, April 16th. ValuEngine raised Akamai Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday. Craig Hallum reissued a “buy” rating and issued a $92.00 price objective (up from $82.00) on shares of Akamai Technologies in a research report on Wednesday. Needham & Company LLC assumed coverage on Akamai Technologies in a research report on Monday, April 22nd. They issued a “buy” rating and a $95.00 price objective on the stock. Finally, Tigress Financial reissued a “strong-buy” rating on shares of Akamai Technologies in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $82.47.
Shares of AKAM traded down $0.24 during trading hours on Friday, hitting $80.03. The stock had a trading volume of 1,029,922 shares, compared to its average volume of 1,236,511. The company has a current ratio of 3.19, a quick ratio of 2.09 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $13.12 billion, a P/E ratio of 29.00, a price-to-earnings-growth ratio of 1.65 and a beta of 0.60. Akamai Technologies has a 12-month low of $57.18 and a 12-month high of $86.19.
In other news, insider Rick M. Mcconnell sold 1,362 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $78.00, for a total transaction of $106,236.00. Following the completion of the sale, the insider now directly owns 20,031 shares in the company, valued at $1,562,418. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Wheaton sold 6,000 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $71.22, for a total value of $427,320.00. Following the sale, the insider now owns 27,848 shares of the company’s stock, valued at $1,983,334.56. The disclosure for this sale can be found here. Insiders have sold 112,930 shares of company stock valued at $8,185,826 over the last 90 days. Insiders own 2.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Truvestments Capital LLC acquired a new position in Akamai Technologies in the first quarter valued at approximately $29,000. Focused Wealth Management Inc purchased a new position in shares of Akamai Technologies during the 4th quarter valued at $29,000. Liberty Wealth Management LLC purchased a new position in shares of Akamai Technologies during the 4th quarter valued at $32,000. Private Capital Group LLC grew its holdings in shares of Akamai Technologies by 148.5% during the 4th quarter. Private Capital Group LLC now owns 661 shares of the technology infrastructure company’s stock valued at $40,000 after acquiring an additional 395 shares in the last quarter. Finally, Horan Capital Advisors LLC. acquired a new stake in shares of Akamai Technologies in the 1st quarter valued at $57,000. Institutional investors own 88.44% of the company’s stock.
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. 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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