Analysts Set Expectations for AKAM FY2024 Earnings

Akamai Technologies, Inc. (NASDAQ:AKAM) – Investment analysts at Scotiabank issued their FY2024 EPS estimates for Akamai Technologies in a note issued to investors on Wednesday, January 8th. Scotiabank analyst P. Colville expects that the technology infrastructure company will earn $4.30 per share for the year. Scotiabank currently has a “Sector Outperform” rating and a $112.00 target price on the stock. The consensus estimate for Akamai Technologies’ current full-year earnings is $4.29 per share. Scotiabank also issued estimates for Akamai Technologies’ FY2025 earnings at $4.55 EPS.

Several other equities research analysts have also recently commented on the company. Robert W. Baird cut their price target on Akamai Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Evercore ISI reissued an “outperform” rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. 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. Finally, HSBC upgraded shares of Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $116.85.

Akamai Technologies Stock Up 0.8 %

AKAM stock opened at $89.61 on Monday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average of $94.75 and a two-hundred day moving average of $97.35. Akamai Technologies has a 12 month low of $84.70 and a 12 month high of $129.17. The company has a market cap of $13.46 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 3.83 and a beta of 0.64.

Insider Buying and Selling

In other Akamai Technologies news, CFO Edward J. Mcgowan sold 10,782 shares of the stock in a transaction that occurred on 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 directly owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This represents a 45.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction on Friday, November 15th. The stock was sold at an average price of $88.61, for a total transaction of $221,525.00. Following the sale, the chief technology officer now directly owns 19,510 shares of the company’s stock, valued at approximately $1,728,781.10. This trade represents a 11.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,282 shares of company stock valued at $1,733,716 in the last three months. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC raised its holdings in Akamai Technologies by 3.7% during the second quarter. Private Advisor Group LLC now owns 6,000 shares of the technology infrastructure company’s stock worth $540,000 after purchasing an additional 216 shares in the last quarter. Dai ichi Life Insurance Company Ltd raised its stake in Akamai Technologies by 4.9% during the 2nd quarter. Dai ichi Life Insurance Company Ltd now owns 13,329 shares of the technology infrastructure company’s stock worth $1,201,000 after acquiring an additional 627 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Akamai Technologies by 2.6% in the second quarter. Envestnet Asset Management Inc. now owns 558,291 shares of the technology infrastructure company’s stock valued at $50,291,000 after acquiring an additional 14,353 shares during the last quarter. Garrison Asset Management LLC boosted its stake in Akamai Technologies by 0.6% in the second quarter. Garrison Asset Management LLC now owns 21,264 shares of the technology infrastructure company’s stock valued at $1,915,000 after acquiring an additional 120 shares in the last quarter. Finally, Rock Point Advisors LLC purchased a new position in shares of Akamai Technologies during the second quarter worth about $3,199,000. Hedge funds and other institutional investors own 94.28% 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.