Research Analysts Set Expectations for AKAM FY2024 Earnings

Akamai Technologies, Inc. (NASDAQ:AKAM) – Stock analysts at Zacks Research decreased their FY2024 EPS estimates for shares of Akamai Technologies in a report released on Monday, January 13th. Zacks Research analyst A. Chatterjee now anticipates that the technology infrastructure company will earn $4.29 per share for the year, down from their prior forecast of $4.30. The consensus estimate for Akamai Technologies’ current full-year earnings is $4.29 per share. Zacks Research also issued estimates for Akamai Technologies’ Q4 2024 earnings at $1.03 EPS.

Several other equities analysts have also recently issued reports on AKAM. Evercore ISI restated an “outperform” rating and issued a $110.00 price target on shares of Akamai Technologies in a research report on Tuesday, December 17th. Scotiabank dropped their target price on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research report on Monday, December 2nd. Finally, HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $116.85.

Akamai Technologies Trading Up 1.1 %

NASDAQ AKAM opened at $90.58 on Wednesday. Akamai Technologies has a one year low of $84.70 and a one year high of $129.17. The firm has a market cap of $13.61 billion, a PE ratio of 26.80, a P/E/G ratio of 3.83 and a beta of 0.64. The firm’s fifty day moving average is $94.75 and its two-hundred day moving average is $97.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.33.

Insider Buying and Selling

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $98.71, for a total value of $1,064,291.22. Following the sale, the chief financial officer now owns 12,716 shares of the company’s stock, valued at $1,255,196.36. This represents a 45.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total transaction of $93,380.00. Following the completion of the sale, the director now owns 15,719 shares in the company, valued at $1,467,840.22. This represents a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,282 shares of company stock worth $1,733,716 in the last quarter. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Akamai Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of AKAM. Farther Finance Advisors LLC increased its position in Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after buying an additional 114 shares in the last quarter. Bruce G. Allen Investments LLC boosted its stake in shares of Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after acquiring an additional 155 shares during the last quarter. Eastern Bank acquired a new stake in shares of Akamai Technologies during the third quarter valued at $71,000. Covestor Ltd increased its position in Akamai Technologies by 67.7% during the 3rd quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after purchasing an additional 358 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in Akamai Technologies in the 3rd quarter valued at about $102,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.

About Akamai Technologies

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.