Research Analysts Issue Forecasts for AKAM FY2024 Earnings

Akamai Technologies, Inc. (NASDAQ:AKAM) – Investment analysts at DA Davidson cut their FY2024 EPS estimates for Akamai Technologies in a report issued on Thursday, December 19th. DA Davidson analyst R. Kessinger now anticipates that the technology infrastructure company will earn $4.26 per share for the year, down from their previous estimate of $4.31. The consensus estimate for Akamai Technologies’ current full-year earnings is $4.29 per share. DA Davidson also issued estimates for Akamai Technologies’ Q4 2024 earnings at $0.99 EPS.

Other equities analysts have also recently issued reports about the company. Tigress Financial reissued a “strong-buy” rating and set a $140.00 price objective on shares of Akamai Technologies in a report on Thursday, August 29th. UBS Group began coverage on Akamai Technologies in a research note on Monday, December 16th. They set a “neutral” rating and a $110.00 price objective on the stock. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Monday, November 11th. Scotiabank reduced their price target on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating on the stock in a research report on Friday, November 8th. Finally, Oppenheimer raised Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research note on Monday, December 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Akamai Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $116.85.

Akamai Technologies Trading Up 1.4 %

Shares of AKAM stock opened at $95.89 on Friday. The business has a 50-day moving average price of $97.68 and a two-hundred day moving average price of $96.62. Akamai Technologies has a 12-month low of $84.70 and a 12-month high of $129.17. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a market cap of $14.41 billion, a P/E ratio of 28.37, a price-to-earnings-growth ratio of 3.83 and a beta of 0.65.

Hedge Funds Weigh In On Akamai Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its holdings in shares of Akamai Technologies by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 200,458 shares of the technology infrastructure company’s stock valued at $20,236,000 after buying an additional 6,785 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in Akamai Technologies by 9.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 5,201 shares of the technology infrastructure company’s stock worth $524,000 after purchasing an additional 432 shares during the period. Retirement Systems of Alabama lifted its position in Akamai Technologies by 20.0% during 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 purchasing an additional 139,760 shares in the last quarter. Tidal Investments LLC grew its holdings in Akamai Technologies by 15.6% during 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. Finally, Cim Investment Management Inc. grew its holdings 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 valued at $2,171,000 after purchasing an additional 11,943 shares during the period. Institutional investors own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the completion of the sale, the chief financial officer now directly owns 12,716 shares in the company, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s 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 sale, the director now directly owns 15,719 shares of the company’s stock, valued at $1,467,840.22. This trade represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,282 shares of company stock valued at $1,733,716. Insiders own 2.00% of the company’s stock.

Akamai Technologies Company Profile

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.