FY2024 Earnings Estimate for AKAM Issued By Zacks Research

Akamai Technologies, Inc. (NASDAQ:AKAM) – Equities research analysts at Zacks Research dropped their FY2024 earnings per share estimates for Akamai Technologies in a research report issued 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 $4.28 per share. Zacks Research also issued estimates for Akamai Technologies’ Q4 2024 earnings at $1.03 EPS.

A number of other research analysts also recently issued reports on AKAM. Scotiabank cut their price objective on Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research note on Friday, November 8th. Hsbc Global Res upgraded Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. 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. Robert W. Baird decreased their price objective on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Finally, Oppenheimer raised shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.85.

Akamai Technologies Trading Down 0.0 %

Akamai Technologies stock opened at $90.50 on Wednesday. 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 company has a market cap of $13.60 billion, a P/E ratio of 26.78, a P/E/G ratio of 3.17 and a beta of 0.64. The business has a 50-day simple moving average of $94.26 and a two-hundred day simple moving average of $97.31. Akamai Technologies has a 52-week low of $84.70 and a 52-week high of $129.17.

Insider Buying and Selling at Akamai Technologies

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $98.71, for a total transaction of $1,064,291.22. Following the sale, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,282 shares of company stock worth $2,099,996. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Akamai Technologies

Several institutional investors have recently made changes to their positions in AKAM. Farther Finance Advisors LLC grew its position in shares of Akamai Technologies by 85.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock valued at $25,000 after acquiring an additional 114 shares during the period. Bruce G. Allen Investments LLC grew its holdings in Akamai Technologies by 38.8% in the 4th quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after buying an additional 155 shares in the last quarter. Eastern Bank purchased a new stake in shares of Akamai Technologies in the third quarter valued at about $71,000. Covestor Ltd increased its holdings in shares of 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 buying an additional 358 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in Akamai Technologies during the third quarter worth $102,000. 94.28% of the stock is owned by hedge funds and other institutional investors.

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.