FY2024 Earnings Estimate for AKAM Issued By Scotiabank

Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) - Scotiabank issued their FY2024 earnings per share estimates for Akamai Technologies in a research note issued on Wednesday, January 8th. Scotiabank analyst P. Colville expects that the technology infrastructure company will post earnings per share of $4.30 for the year. Scotiabank has a "Sector Outperform" rating and a $112.00 price target 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.

Other equities analysts also recently issued reports about the stock. Robert W. Baird decreased their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, November 11th. Oppenheimer raised Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 target price for the company in a research report on Monday, December 2nd. 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 reiterated an "outperform" rating and issued a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Finally, HSBC raised 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 research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Akamai Technologies presently has an average rating of "Moderate Buy" and an average target price of $116.85.

Akamai Technologies Trading Down 4.7 %

NASDAQ:AKAM opened at $88.93 on Monday. The company has a 50-day moving average price of $94.96 and a 200-day moving average price of $97.35. The stock has a market cap of $13.36 billion, a price-to-earnings ratio of 26.31, a P/E/G ratio of 3.83 and a beta of 0.64. 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.

Institutional Trading of Akamai Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in shares of Akamai Technologies by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 4,197,009 shares of the technology infrastructure company's stock worth $423,066,000 after acquiring an additional 202,746 shares during the last quarter. Nordea Investment Management AB lifted its position in Akamai Technologies by 6.9% during the fourth quarter. Nordea Investment Management AB now owns 2,140,257 shares of the technology infrastructure company's stock valued at $205,743,000 after purchasing an additional 138,380 shares in the last quarter. Earnest Partners LLC grew its holdings in Akamai Technologies by 1.3% during the second quarter. Earnest Partners LLC now owns 2,131,061 shares of the technology infrastructure company's stock valued at $191,966,000 after purchasing an additional 28,135 shares during the period. Dimensional Fund Advisors LP increased its position in Akamai Technologies by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,732,750 shares of the technology infrastructure company's stock worth $156,088,000 after buying an additional 347,626 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its stake in shares of Akamai Technologies by 6.3% in the third quarter. Disciplined Growth Investors Inc. MN now owns 1,499,760 shares of the technology infrastructure company's stock worth $151,401,000 after buying an additional 88,732 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Edward J. Mcgowan sold 10,782 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the transaction, the chief financial officer now directly owns 12,716 shares in the company, valued at $1,255,196.36. This trade represents a 45.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the transaction, the director now directly owns 15,719 shares in the company, valued at approximately $1,467,840.22. This represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,282 shares of company stock valued at $1,733,716 in the last 90 days. 1.80% of the stock is currently owned by insiders.

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.