Akamai Technologies, Inc. (NASDAQ:AKAM) – Stock analysts at Oppenheimer raised their Q1 2018 EPS estimates for Akamai Technologies in a research report issued on Thursday. Oppenheimer analyst T. Horan now forecasts that the technology infrastructure company will post earnings per share of $0.50 for the quarter, up from their previous estimate of $0.49. Oppenheimer currently has a “Outperform” rating and a $80.00 price target on the stock. Oppenheimer also issued estimates for Akamai Technologies’ Q2 2018 earnings at $0.49 EPS and Q3 2018 earnings at $0.55 EPS.
Akamai Technologies (NASDAQ:AKAM) last posted its earnings results on Tuesday, February 6th. The technology infrastructure company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.06. The company had revenue of $663.50 million during the quarter, compared to the consensus estimate of $649.08 million. Akamai Technologies had a net margin of 8.72% and a return on equity of 9.90%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 earnings per share.
Shares of Akamai Technologies (NASDAQ:AKAM) opened at $76.07 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.82 and a quick ratio of 2.82. The company has a market cap of $12,870.00, a P/E ratio of 53.95, a price-to-earnings-growth ratio of 2.72 and a beta of 0.68. Akamai Technologies has a 1 year low of $44.65 and a 1 year high of $78.28.
Hedge funds have recently made changes to their positions in the company. CenterStar Asset Management LLC acquired a new position in shares of Akamai Technologies in the 4th quarter valued at $114,000. Avestar Capital LLC acquired a new position in shares of Akamai Technologies in the 4th quarter valued at $131,000. We Are One Seven LLC acquired a new position in shares of Akamai Technologies in the 4th quarter valued at $160,000. Delpha Capital Management LLC acquired a new position in shares of Akamai Technologies in the 4th quarter valued at $177,000. Finally, Wealth Architects LLC acquired a new position in shares of Akamai Technologies in the 4th quarter valued at $202,000. Institutional investors own 88.94% of the company’s stock.
In other news, insider Rick M. Mcconnell sold 48,369 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $56.83, for a total value of $2,748,810.27. Following the completion of the transaction, the insider now owns 45,974 shares in the company, valued at approximately $2,612,702.42. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider William Wheaton sold 5,000 shares of the stock in a transaction on Monday, March 5th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the transaction, the insider now owns 39,465 shares of the company’s stock, valued at approximately $2,762,550. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,799 shares of company stock valued at $4,326,520. Corporate insiders own 3.20% of the company’s stock.
Akamai Technologies declared that its Board of Directors has initiated a share repurchase plan on Thursday, March 8th that allows the company to repurchase $417.00 million in shares. This repurchase authorization allows the technology infrastructure company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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Akamai Technologies Company Profile
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.
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