Zacks: Analysts Expect Akamai Technologies, Inc. (NASDAQ:AKAM) Will Post Earnings of $1.39 Per Share

Wall Street brokerages forecast that Akamai Technologies, Inc. (NASDAQ:AKAMGet Rating) will announce earnings per share (EPS) of $1.39 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Akamai Technologies’ earnings. The lowest EPS estimate is $1.28 and the highest is $1.50. Akamai Technologies posted earnings of $1.42 per share during the same quarter last year, which would indicate a negative year over year growth rate of 2.1%. The business is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Akamai Technologies will report full-year earnings of $5.92 per share for the current financial year, with EPS estimates ranging from $5.86 to $6.01. For the next financial year, analysts anticipate that the firm will report earnings of $6.61 per share, with EPS estimates ranging from $6.38 to $6.92. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Akamai Technologies.

Akamai Technologies (NASDAQ:AKAMGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The technology infrastructure company reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.03). The company had revenue of $903.65 million for the quarter, compared to analyst estimates of $904.89 million. Akamai Technologies had a net margin of 17.46% and a return on equity of 17.42%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 EPS.

A number of brokerages have recently commented on AKAM. Morgan Stanley lowered their price objective on Akamai Technologies from $130.00 to $118.00 in a report on Wednesday. Piper Sandler lowered their price objective on Akamai Technologies from $126.00 to $118.00 in a report on Wednesday. Royal Bank of Canada lowered their target price on Akamai Technologies from $140.00 to $135.00 in a report on Wednesday. Cowen lowered their target price on Akamai Technologies from $186.00 to $164.00 in a report on Wednesday. Finally, Tigress Financial raised their target price on Akamai Technologies from $157.00 to $168.00 in a report on Wednesday, January 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Akamai Technologies has a consensus rating of “Hold” and an average price target of $127.50.

In other Akamai Technologies news, Director Bernardus Johannes M. Verwaayen sold 2,000 shares of Akamai Technologies stock in a transaction on Friday, February 25th. The stock was sold at an average price of $105.12, for a total value of $210,240.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Edward J. Mcgowan sold 3,805 shares of Akamai Technologies stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $120.00, for a total value of $456,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 42,325 shares of company stock valued at $4,843,886 in the last 90 days. 1.70% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Johnson Financial Group Inc. acquired a new stake in shares of Akamai Technologies in the 4th quarter valued at $25,000. Newbridge Financial Services Group Inc. increased its stake in shares of Akamai Technologies by 866.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 232 shares of the technology infrastructure company’s stock valued at $27,000 after buying an additional 208 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of Akamai Technologies in the 4th quarter valued at $29,000. Baystate Wealth Management LLC increased its stake in shares of Akamai Technologies by 33.3% in the 1st quarter. Baystate Wealth Management LLC now owns 400 shares of the technology infrastructure company’s stock valued at $48,000 after buying an additional 100 shares during the period. Finally, UMB Bank N A MO acquired a new stake in shares of Akamai Technologies in the 4th quarter valued at $47,000. 91.05% of the stock is owned by institutional investors.

Shares of NASDAQ AKAM opened at $95.37 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.43 and a current ratio of 1.68. The firm has a market cap of $15.35 billion, a price-to-earnings ratio of 25.64, a P/E/G ratio of 1.79 and a beta of 0.60. The business’s 50-day simple moving average is $114.91 and its 200-day simple moving average is $112.56. Akamai Technologies has a 52 week low of $95.08 and a 52 week high of $123.25.

Akamai Technologies Company Profile (Get Rating)

Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.

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