Akamai Technologies (AKAM) was Downgraded by Pacific Crest to ” Sector Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. Pacific Crest advised their investors in a research report released on Jul 27, 2016.
On the company’s financial health, Akamai Technologies reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.63. The company had revenue of $567.73 million for the quarter, compared to analysts expectations of $564.26 million. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS.
Akamai Technologies opened for trading at $50.45 and hit $51.125 on the upside on Thursday, eventually ending the session at $50.69, with a gain of 0.36% or 0.18 points. The heightened volatility saw the trading volume jump to 47,23,027 shares. Company has a market cap of $8,901 M.
In a different news, on Jul 18, 2016, F Thomson Leighton (CEO) purchased 17,456 shares at $57.28 per share price. According to the SEC, on Jul 15, 2016, Rick M Mcconnell (President Prods & Development) sold 3,550 shares at $58.00 per share price. On Jun 15, 2016, Paul Sagan (director) sold 23,255 shares at $52.34 per share price, according to the Form-4 filing with the securities and exchange commission.
Akamai Technologies Inc. is a provider of cloud services for delivering optimizing and securing online content and business applications. Its solutions include delivery of conventional content on Websites tools that support the delivery and operation of cloud-based applications as well as security solutions and live and on-demand streaming video capabilities. The Companys solutions include Media Delivery Solutions Performance and Security Solutions and Service and Support Solutions. Media Delivery Solutions are designed to enable enterprises to execute their digital media distribution strategies. Performance and Security Solutions are designed to utilize the Companys core content and application delivery technologies of the Company to make the Internet work better. Service and Support Solutions offer professional services and solutions.