Akamai Technologies, Inc. (NASDAQ:AKAM) – Equities research analysts at Oppenheimer lowered their Q2 2019 earnings estimates for shares of Akamai Technologies in a research report issued to clients and investors on Tuesday, April 9th. Oppenheimer analyst T. Horan now anticipates that the technology infrastructure company will post earnings of $0.71 per share for the quarter, down from their prior forecast of $0.74. Oppenheimer also issued estimates for Akamai Technologies’ Q3 2019 earnings at $0.75 EPS and Q4 2019 earnings at $0.82 EPS.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Tuesday, February 12th. The technology infrastructure company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. The company had revenue of $713.36 million during the quarter, compared to the consensus estimate of $703.74 million. Akamai Technologies had a net margin of 10.99% and a return on equity of 13.81%. Akamai Technologies’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS.

Several other research analysts also recently weighed in on the stock. BidaskClub raised shares of Akamai Technologies from a “hold” rating to a “buy” rating in a report on Wednesday. Tigress Financial reaffirmed a “strong-buy” rating on shares of Akamai Technologies in a report on Thursday, April 4th. Deutsche Bank downgraded shares of Akamai Technologies from a “hold” rating to a “sell” rating and set a $58.00 target price for the company. in a report on Monday, March 25th. Evercore ISI assumed coverage on shares of Akamai Technologies in a report on Thursday, March 21st. They issued an “in-line” rating and a $70.00 target price for the company. Finally, Zacks Investment Research raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a report on Monday, February 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $80.47.

Shares of Akamai Technologies stock opened at $74.32 on Wednesday. The firm has a market capitalization of $12.12 billion, a P/E ratio of 26.93, a PEG ratio of 1.62 and a beta of 0.56. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.27. Akamai Technologies has a fifty-two week low of $57.18 and a fifty-two week high of $83.08.

In other Akamai Technologies news, SVP Aaron Ahola sold 2,157 shares of the stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $70.16, for a total transaction of $151,335.12. Following the completion of the transaction, the senior vice president now owns 4,035 shares of the company’s stock, valued at approximately $283,095.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Wheaton sold 6,000 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $71.22, for a total transaction of $427,320.00. Following the transaction, the insider now directly owns 27,848 shares of the company’s stock, valued at approximately $1,983,334.56. The disclosure for this sale can be found here. Insiders have sold a total of 94,872 shares of company stock valued at $6,754,765 in the last three months. Insiders own 3.20% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Focused Wealth Management Inc bought a new position in shares of Akamai Technologies during the 4th quarter valued at about $29,000. Liberty Wealth Management LLC purchased a new stake in shares of Akamai Technologies during the 4th quarter valued at about $32,000. Oregon Public Employees Retirement Fund raised its position in shares of Akamai Technologies by 5,021.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,029,933 shares of the technology infrastructure company’s stock valued at $33,000 after buying an additional 1,990,300 shares in the last quarter. Private Capital Group LLC raised its position 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 buying an additional 395 shares in the last quarter. Finally, Fort L.P. purchased a new stake in shares of Akamai Technologies during the 4th quarter valued at about $82,000. 88.67% of the stock is owned by institutional investors and hedge funds.

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

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