Akamai Technologies (NASDAQ:AKAM) Issues FY19 Earnings Guidance
Akamai Technologies (NASDAQ:AKAM) updated its FY19 earnings guidance on Tuesday. The company provided EPS guidance of $4.23-4.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.18. The company issued revenue guidance of $2.84-2.87 billion, compared to the consensus revenue estimate of $2.85 billion.Akamai Technologies also updated its Q3 guidance to $0.98-1.02 EPS.
Several research analysts have issued reports on the stock. Tigress Financial restated a strong-buy rating on shares of Akamai Technologies in a research report on Thursday, April 4th. BidaskClub lowered shares of Woodward, Inc.Common Stock from a strong-buy rating to a buy rating in a research report on Saturday. Zacks Investment Research upgraded shares of FirstService from a strong sell rating to a hold rating and set a $110.00 price target on the stock in a research report on Tuesday, June 25th. KeyCorp restated a hold rating on shares of Clearwater Paper in a research report on Wednesday, May 1st. Finally, Piper Jaffray Companies lifted their price objective on shares of DexCom to $173.00 and gave the stock an overweight rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $82.93.
Shares of Akamai Technologies stock traded up $0.51 on Tuesday, hitting $84.03. 1,268,460 shares of the company traded hands, compared to its average volume of 1,196,813. The stock’s 50-day moving average is $81.10. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.19 and a current ratio of 3.19. Akamai Technologies has a 12-month low of $57.18 and a 12-month high of $86.19. The company has a market cap of $13.60 billion, a P/E ratio of 30.45, a PEG ratio of 1.77 and a beta of 0.63.
In other news, EVP Robert Blumofe sold 5,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $80.95, for a total transaction of $404,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Adam Karon sold 3,500 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $80.00, for a total transaction of $280,000.00. Following the transaction, the executive vice president now owns 12,918 shares in the company, valued at $1,033,440. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,670 shares of company stock worth $1,707,961. 2.40% of the stock is currently owned by corporate insiders.
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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