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Published: Thu, May 04, 2017
Economy | By Melissa Porter

Akamai Technologies, Inc. (AKAM) Releases Earnings Results, Beats Estimates By $0.01 EPS

Akamai Technologies, Inc. (AKAM) Releases Earnings Results, Beats Estimates By $0.01 EPS

Royal Bank of Canada restated a "hold" rating and set a $65.00 price objective on shares of Akamai Technologies in a report on Friday, March 31st.

Analyst mean recommendation rating on a stock by the analyst community is at 2.10. Exxonmobil Investment Management Inc sold 62,024 shares as Procter & Gamble Com Npv (PG)'s stock declined 5.17%. Akamai Technologies, Inc. (NASDAQ:AKAM) has risen 20.75% since September 26, 2016 and is uptrending. Akamai Technologies has a 1-year low of $47.80 and a 1-year high of $71.64. If we take a long term observation, shares have been trading at a distance of 0.80% from the 200-day moving average.

Akamai Technologies Inc, which helps speed up content delivery over the internet (OTT), forecast current-quarter revenue and profit below Wall Street estimates, sending its shares down about 11 percent in after-hours trading on Tuesday. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share. Akamai Technologies had a net margin of 13.51% and a return on equity of 11.45%. The firm had revenue of $609.24 million for the quarter, compared to the consensus estimate of $604.94 million.

Akamai Technologies, Inc. has a ROA of 7.40%, measuring the amount of profit the company earns on the value of its shares. "(AKAM) Downgraded to Market Perform at Wells Fargo & Co" was first posted by BBNS and is owned by of BBNS. If you are accessing this story on another site, it was copied illegally and reposted in violation of USA and worldwide copyright & trademark law. The legal version of this piece can be accessed at https://www.themarketsdaily.com/2017/05/03/akamai-technologies-inc-akam-cut-to-hold-at-suntrust-banks-inc.html. Also, CFO James M. Benson sold 22,155 shares of the firm's stock in a transaction dated Monday, March 13th. Following the completion of the transaction, the director now directly owns 22,290 shares in the company, valued at approximately $1,468,688.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

In related news, Director Paul Sagan sold 18,666 shares of the company's stock in a transaction on Wednesday, April 12th. It also reduced Becton Dickinson & Co (NYSE:BDX) stake by 3,081 shares and now owns 45,016 shares. The disclosure for this sale can be found here. OLD National Bancorp IN now owns 24,504 shares of the technology infrastructure company's stock valued at $1,298,000 after buying an additional 405 shares during the last quarter. Investors will react to these companies' recent announcement.

A number of hedge funds and other institutional investors have recently modified their holdings of the company.

Akamai noted that Performance and Security Solutions revenue rose 17% in the latest period, while Cloud Security Solutions revenue, which is a component of Performance and Security, jumped 36%. The stock has earnings growth of 75.40% yoy and showed a high EPS growth of 24.80% over the past five years. OLD National Bancorp IN raised its position in shares of Akamai Technologies by 1.7% in the third quarter. The stock increased 4.36% or $0.13 on May 2, reaching $3.11. Veritable Ltd Partnership invested 0.01% of its portfolio in Akamai Technologies, Inc.

It is significant to learn the beta of a stock ahead of investing in order to structure a portfolio with risk level that is acceptable to an investor. Finally, Janus Capital Management LLC raised its position in shares of Akamai Technologies by 207.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 5,983 shares of the technology infrastructure company's stock worth $399,000 after buying an additional 164 shares during the last quarter. Its P/Cash is valued at 12.66, allowing investors to have a useful look at the company's value in contrast to the P/E ratio.

Akamai Technologies, Inc is engaged in providing cloud services for delivering, optimizing and securing content and business applications over the Internet. The Firm is involved in offering content delivery network services.

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