Akamai Technologies, Inc. (AKAM) Expected to Post Quarterly Sales of $695.38 Million
Analysts expect that Akamai Technologies, Inc. (NASDAQ:AKAM) will report sales of $695.38 million for the current fiscal quarter, Zacks reports. Eleven analysts have made estimates for Akamai Technologies’ earnings. The highest sales estimate is $701.00 million and the lowest is $689.02 million. Akamai Technologies reported sales of $662.76 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.9%. The firm is scheduled to announce its next earnings report on Tuesday, July 30th.
On average, analysts expect that Akamai Technologies will report full year sales of $2.85 billion for the current fiscal year, with estimates ranging from $2.81 billion to $2.86 billion. For the next fiscal year, analysts anticipate that the business will post sales of $3.05 billion, with estimates ranging from $2.98 billion to $3.10 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Akamai Technologies.
Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Tuesday, April 30th. The technology infrastructure company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. The company had revenue of $706.51 million during the quarter, compared to the consensus estimate of $698.33 million. Akamai Technologies had a net margin of 12.78% and a return on equity of 15.29%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the firm earned $0.79 EPS.
Shares of NASDAQ:AKAM traded up $0.13 during midday trading on Friday, reaching $77.89. 732,990 shares of the company’s stock were exchanged, compared to its average volume of 1,281,733. The company has a market capitalization of $12.78 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 1.65 and a beta of 0.60. Akamai Technologies has a 12 month low of $57.18 and a 12 month high of $86.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.19 and a current ratio of 3.19.
In related news, insider Rick M. Mcconnell sold 22,775 shares of Akamai Technologies stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $70.88, for a total transaction of $1,614,292.00. Following the completion of the transaction, the insider now directly owns 26,533 shares of the company’s stock, valued at approximately $1,880,659.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Gemmell sold 10,356 shares of Akamai Technologies stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $70.37, for a total transaction of $728,751.72. Following the transaction, the executive vice president now directly owns 11,504 shares of the company’s stock, valued at $809,536.48. The disclosure for this sale can be found here. Insiders have sold a total of 85,194 shares of company stock valued at $6,237,808 over the last three months. 2.40% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in AKAM. Belpointe Asset Management LLC increased its position in Akamai Technologies by 12.3% in the 4th quarter. Belpointe Asset Management LLC now owns 1,730 shares of the technology infrastructure company’s stock valued at $106,000 after acquiring an additional 190 shares in the last quarter. Gideon Capital Advisors Inc. increased its position in Akamai Technologies by 173.3% in the 4th quarter. Gideon Capital Advisors Inc. now owns 25,108 shares of the technology infrastructure company’s stock valued at $1,534,000 after acquiring an additional 15,921 shares in the last quarter. Vanguard Group Inc increased its position in Akamai Technologies by 0.4% in the 3rd quarter. Vanguard Group Inc now owns 17,093,767 shares of the technology infrastructure company’s stock valued at $1,250,409,000 after acquiring an additional 63,759 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in Akamai Technologies in the 4th quarter valued at about $507,000. Finally, Nomura Asset Management Co. Ltd. increased its position in Akamai Technologies by 4.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 41,762 shares of the technology infrastructure company’s stock valued at $2,551,000 after acquiring an additional 1,670 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.
Akamai Technologies Company Profile
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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