Shares of Akamai Technologies, Inc (NASDAQ:AKAM) tumbled by over 18% on Thursday to settle at $33.91, as investors smashed the company for its unsatisfactory revenue results and guidance.
The Internet content-delivery technology corporation reported that it earned 54 cents per share on revenue of $378 million, while analysts had estimate the company to earn 50 cents per share on revenue of $381 million.
Janney Capital Markets and Jefferies analysts lower their stock ratings on Akamai stock following the results.
Akamai reported that it projects to earn 50 cents to 52 cents per share on revenue in a range of $352 million to $362 million for the fiscal first quarter.
Thomson Reuters analysts poll most recently forecasted earlier estimate Akamai to earn 47 cents per share on sales of $370.1 million in three months period.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Limelight Networks, Inc. (NASDAQ:LLNW) fell -5.00% to settle at $2.28, Rackspace Hosting, Inc. (NYSE:RAX) moved down -2.68% to end at $73.11 while Brightcove Inc (NASDAQ:BCOV) jumped +1.68% to finish at $6.64 on Thursday.
Akamai Technologies, Inc. (NASDAQ:AKAM) on Feb 07, 2013 decreased -15.20% to the closing price of $35.26. The overall volume in the last trading session was 27.21 million shares. Its fifty two weeks range was $25.90 – $42.53. The total market capitalization remained at $6.26 billion.
AKAM is ahead of its 52-week low with 36.14% and lagging behind from its 52-week high price with -17.09%. AKAM’s last month’s stock price volatility remained 2.06%. In its share capital AKAM has 177.47 million outstanding shares, among them 172.10 million shares have been floated in market exchange. AKAM’s stock’s institutional ownership remained 83.83% while insider ownership included 0.28%.
The stock price of AKAM is moving down from its 20 days moving average with -12.61% and remote negatively from 50 days moving average with -11.10%. AKAM’s current year’s earnings per share experienced an addition with 18.54% while its current quarter performance remained at -9.29%. Company’s beta coefficient included 0.82. Beta factors measure the amount of market risk associated with market trade.
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