What is William Blair’s Estimate for AKAM FY2024 Earnings?

Akamai Technologies, Inc. (NASDAQ:AKAM) – Stock analysts at William Blair decreased their FY2024 earnings per share estimates for Akamai Technologies in a research note issued on Thursday, December 5th. William Blair analyst J. Ho now expects that the technology infrastructure company will post earnings of $4.26 per share for the year, down from their prior estimate of $4.30. The consensus estimate for Akamai Technologies’ current full-year earnings is $4.31 per share. William Blair also issued estimates for Akamai Technologies’ Q4 2024 earnings at $0.98 EPS.

Other analysts have also recently issued research reports about the company. TD Cowen boosted their price target on Akamai Technologies from $129.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, August 9th. HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a report on Monday, November 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 price target on shares of Akamai Technologies in a research report on Thursday, August 15th. Craig Hallum raised shares of Akamai Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $110.00 to $125.00 in a report on Friday, August 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $117.61.

Akamai Technologies Trading Up 0.7 %

NASDAQ:AKAM opened at $98.06 on Friday. The company has a market capitalization of $14.73 billion, a P/E ratio of 29.03, a PEG ratio of 3.72 and a beta of 0.65. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Akamai Technologies has a 12 month low of $84.70 and a 12 month high of $129.17. The firm has a fifty day simple moving average of $98.39 and a 200-day simple moving average of $96.30.

Insider Activity at Akamai Technologies

In related news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction dated 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 directly owns 15,719 shares in the company, valued at approximately $1,467,840.22. This trade represents a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul C. Joseph sold 4,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the sale, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at approximately $2,987,401.90. This trade represents a 11.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,500 shares of company stock valued at $1,058,625. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Akamai Technologies

A number of hedge funds have recently modified their holdings of the business. Retirement Systems of Alabama lifted its position in Akamai Technologies by 20.0% in the third quarter. Retirement Systems of Alabama now owns 837,155 shares of the technology infrastructure company’s stock valued at $84,511,000 after buying an additional 139,760 shares during the last quarter. Tidal Investments LLC raised its position in Akamai Technologies by 15.6% in the third quarter. Tidal Investments LLC now owns 22,131 shares of the technology infrastructure company’s stock valued at $2,234,000 after purchasing an additional 2,993 shares during the period. Cim Investment Management Inc. lifted its stake in Akamai Technologies by 124.9% during the third quarter. Cim Investment Management Inc. now owns 21,502 shares of the technology infrastructure company’s stock worth $2,171,000 after purchasing an additional 11,943 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Akamai Technologies during the third quarter worth $483,000. Finally, Pine Valley Investments Ltd Liability Co grew its stake in shares of Akamai Technologies by 13.2% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 14,577 shares of the technology infrastructure company’s stock valued at $1,472,000 after buying an additional 1,700 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

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.