Akamai Technologies, Inc. (NASDAQ:AKAM) – Stock analysts at Oppenheimer raised their FY2019 earnings estimates for shares of Akamai Technologies in a research note issued on Monday. Oppenheimer analyst T. Horan now expects that the technology infrastructure company will earn $2.04 per share for the year, up from their prior estimate of $2.01.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Tuesday, October 24th. The technology infrastructure company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.03. Akamai Technologies had a return on equity of 10.28% and a net margin of 11.84%. The firm had revenue of $621.00 million for the quarter, compared to analysts’ expectations of $610.66 million. During the same period last year, the business posted $0.68 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis.

Other equities analysts have also recently issued reports about the company. BidaskClub cut Akamai Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 19th. Piper Jaffray Companies restated a “buy” rating and set a $60.00 price objective on shares of Akamai Technologies in a research note on Wednesday, October 25th. SunTrust Banks restated a “hold” rating on shares of Akamai Technologies in a research note on Wednesday, October 25th. DA Davidson set a $57.00 price objective on Akamai Technologies and gave the stock a “hold” rating in a research note on Thursday, October 12th. Finally, Nomura reduced their price objective on Akamai Technologies from $48.00 to $47.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $59.59.

Shares of Akamai Technologies (NASDAQ AKAM) traded up $0.10 on Wednesday, reaching $56.76. The company had a trading volume of 1,750,115 shares, compared to its average volume of 2,176,480. Akamai Technologies has a 52-week low of $44.65 and a 52-week high of $71.64. The company has a market capitalization of $9,645.03, a PE ratio of 29.70, a PEG ratio of 2.26 and a beta of 0.68. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.01 and a quick ratio of 3.01.

Several institutional investors and hedge funds have recently modified their holdings of AKAM. Alyeska Investment Group L.P. acquired a new position in shares of Akamai Technologies during the third quarter valued at $65,270,000. Janus Henderson Group PLC increased its holdings in shares of Akamai Technologies by 5,158.8% during the second quarter. Janus Henderson Group PLC now owns 1,202,110 shares of the technology infrastructure company’s stock valued at $59,877,000 after purchasing an additional 1,179,251 shares during the period. Fairpointe Capital LLC grew its holdings in Akamai Technologies by 44.0% during the second quarter. Fairpointe Capital LLC now owns 3,212,227 shares of the technology infrastructure company’s stock worth $160,001,000 after acquiring an additional 981,069 shares during the period. ETF Managers Group LLC acquired a new position in Akamai Technologies during the second quarter worth about $45,156,000. Finally, Thrivent Financial For Lutherans grew its holdings in Akamai Technologies by 83.4% during the second quarter. Thrivent Financial For Lutherans now owns 1,908,864 shares of the technology infrastructure company’s stock worth $95,080,000 after acquiring an additional 867,795 shares during the period. 86.56% of the stock is currently owned by institutional investors.

In other news, insider Rick M. Mcconnell sold 2,743 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $55.00, for a total transaction of $150,865.00. Following the transaction, the insider now directly owns 37,010 shares of the company’s stock, valued at $2,035,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO F Thomson Leighton purchased 18,545 shares of the stock in a transaction dated Wednesday, November 15th. The shares were acquired at an average cost of $53.91 per share, for a total transaction of $999,760.95. Following the completion of the acquisition, the chief executive officer now directly owns 226,950 shares of the company’s stock, valued at approximately $12,234,874.50. The disclosure for this purchase can be found here. Insiders sold 31,181 shares of company stock worth $1,614,560 over the last quarter. 3.20% of the stock is currently owned by company insiders.

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About Akamai Technologies

Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Company is involved in offering content delivery network (CDN) services. Its services include the delivery of content, applications and software over the Internet, as well as mobile and security solutions.

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

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