Akamai Technologies, Inc. (NASDAQ:AKAM) Expected to Post Quarterly Sales of $702.42 Million

Analysts predict that Akamai Technologies, Inc. (NASDAQ:AKAM) will post sales of $702.42 million for the current quarter, according to Zacks. Ten analysts have issued estimates for Akamai Technologies’ earnings. The highest sales estimate is $709.90 million and the lowest is $698.24 million. Akamai Technologies posted sales of $669.63 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.9%. The firm is expected to report its next earnings report 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 year, analysts anticipate that the company will post sales of $3.07 billion, with estimates ranging from $3.02 billion to $3.12 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Akamai Technologies.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data 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. Akamai Technologies had a return on equity of 15.29% and a net margin of 12.78%. The firm had revenue of $705.07 million for the quarter, compared to analysts’ expectations of $695.88 million. During the same period last year, the firm earned $0.83 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year.

Several analysts recently issued reports on AKAM shares. Craig Hallum reissued a “buy” rating and issued a $97.00 target price (up from $92.00) on shares of Akamai Technologies in a research note on Wednesday. Needham & Company LLC initiated coverage on Akamai Technologies in a research note on Monday, April 22nd. They issued a “buy” rating and a $95.00 target price on the stock. KeyCorp raised their price objective on shares of Akamai Technologies from $80.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Nomura raised their price objective on shares of Akamai Technologies from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, DA Davidson restated a “buy” rating and issued a $95.00 price objective on shares of Akamai Technologies in a report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Akamai Technologies currently has a consensus rating of “Buy” and an average target price of $85.53.

In other Akamai Technologies news, Director Frederic V. Salerno sold 3,000 shares of Akamai Technologies stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $77.74, for a total value of $233,220.00. Following the completion of the sale, the director now owns 68,919 shares of the company’s stock, valued at approximately $5,357,763.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Adam Karon sold 3,500 shares of Akamai Technologies stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $80.00, for a total transaction of $280,000.00. Following the completion of the sale, the executive vice president now directly owns 12,918 shares of the company’s stock, valued at approximately $1,033,440. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,500 shares of company stock valued at $1,129,220. 2.40% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. Squar Milner Financial Services LLC bought a new stake in shares of Akamai Technologies during the 2nd quarter valued at $26,000. Mcmillion Capital Management Inc. bought a new stake in shares of Akamai Technologies during the 2nd quarter valued at $31,000. Truvestments Capital LLC bought a new stake in shares of Akamai Technologies during the 1st quarter valued at $29,000. Destination Wealth Management grew its position in shares of Akamai Technologies by 215.8% during the 2nd quarter. Destination Wealth Management now owns 439 shares of the technology infrastructure company’s stock valued at $35,000 after acquiring an additional 300 shares during the period. Finally, Liberty Wealth Management LLC bought a new stake in shares of Akamai Technologies during the 4th quarter valued at $32,000. 87.72% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ AKAM traded up $1.98 during trading hours on Thursday, hitting $90.11. The company’s stock had a trading volume of 2,621,386 shares, compared to its average volume of 1,232,989. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.19 and a current ratio of 3.19. The stock has a market capitalization of $14.79 billion, a PE ratio of 32.65, a price-to-earnings-growth ratio of 1.76 and a beta of 0.63. Akamai Technologies has a 12 month low of $57.18 and a 12 month high of $90.76. The stock has a 50-day moving average price of $81.50.

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.

Further Reading: Investing in Growth Stocks

Get a free copy of the Zacks research report on Akamai Technologies (AKAM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Akamai Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akamai Technologies and related companies with MarketBeat.com's FREE daily email newsletter.