Revenue Update on Akamai Technologies(NASDAQ:AKAM)

Akamai Technologies(NASDAQ:AKAM) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 26, 2016. Company reported revenue of $572.13M. Analysts estimated a revenue of $574.86M. Earnings per share were $0.64. Analysts had estimated an EPS of $0.64.

In a different note, SunTrust Robinson Humphrey said it Initiates Coverage on Akamai Technologies, according to a research note issued on Jul 21, 2016. The shares have been rated ‘Buy’ by the firm.

Akamai Technologies (AKAM) shares turned negative on Fridays trading session with the shares closing down -0.16 points or -0.32% at a volume of 36,22,526. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $50.83. The peak price level was also seen at $50.83 while the days lowest was $49.76. Finally the shares closed at $50.53. The 52-week high of the shares is $76.98 while the 52-week low is $39.43. According to the latest information available, the market cap of the company is $8,873 M.

Several Insider Transactions has been reported to the SEC. On Jul 18, 2016, F Thomson Leighton (CEO) purchased 17,456 shares at $57.28 per share price.Also, 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 Company’s 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 Company’s core content and application delivery technologies of the Company to make the Internet work better. Service and Support Solutions offer professional services and solutions.

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