Zacks Research Has Pessimistic View of AKAM FY2024 Earnings

Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) - Research analysts at Zacks Research reduced their FY2024 EPS estimates for Akamai Technologies in a 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 estimate of $4.30. The consensus estimate for Akamai Technologies' current full-year earnings is $4.29 per share. Zacks Research also issued estimates for Akamai Technologies' Q4 2024 earnings at $1.03 EPS.

Other research analysts also recently issued reports about the stock. Evercore ISI reiterated an "outperform" rating and set a $110.00 price target on shares of Akamai Technologies in a report on Tuesday, December 17th. Hsbc Global Res upgraded Akamai Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. HSBC raised Akamai Technologies from a "hold" rating to a "buy" rating and set a $121.00 price target on the stock in a research note on Monday, November 11th. Oppenheimer upgraded shares of Akamai Technologies from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a report on Monday, December 2nd. Finally, Scotiabank reduced their target price on shares of Akamai Technologies from $115.00 to $112.00 and set a "sector outperform" rating on the stock in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Akamai Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $116.85.

Akamai Technologies Price Performance

AKAM stock traded down $0.06 during trading on Wednesday, reaching $90.52. 1,095,425 shares of the company were exchanged, compared to its average volume of 1,577,103. The company has a market capitalization of $13.60 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 3.83 and a beta of 0.64. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The company has a 50-day moving average of $94.55 and a two-hundred day moving average of $97.36. Akamai Technologies has a twelve month low of $84.70 and a twelve month high of $129.17.

Hedge Funds Weigh In On Akamai Technologies

A number of large investors have recently modified their holdings of the company. HB Wealth Management LLC lifted its position in Akamai Technologies by 5.5% in the 4th quarter. HB Wealth Management LLC now owns 3,102 shares of the technology infrastructure company's stock valued at $297,000 after acquiring an additional 161 shares in the last quarter. Avanza Fonder AB bought a new stake in shares of Akamai Technologies in the 4th quarter worth $1,069,000. Gateway Investment Advisers LLC raised its holdings in shares of Akamai Technologies by 1.2% in the fourth quarter. Gateway Investment Advisers LLC now owns 21,951 shares of the technology infrastructure company's stock valued at $2,100,000 after purchasing an additional 250 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of Akamai Technologies by 28.0% during the fourth quarter. Park Avenue Securities LLC now owns 7,438 shares of the technology infrastructure company's stock valued at $711,000 after purchasing an additional 1,629 shares in the last quarter. Finally, Czech National Bank boosted its holdings in Akamai Technologies by 5.5% during the fourth quarter. Czech National Bank now owns 32,573 shares of the technology infrastructure company's stock worth $3,116,000 after purchasing an additional 1,706 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CTO Robert Blumofe sold 2,500 shares of the company's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.61, for a total transaction of $221,525.00. Following the transaction, the chief technology officer now owns 19,510 shares in the company, valued at approximately $1,728,781.10. This represents a 11.36 % decrease in their ownership of the stock. The sale 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 firm's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $88.63, for a total value of $354,520.00. Following the completion of the sale, the executive vice president now owns 26,703 shares of the company's stock, valued at approximately $2,366,686.89. This represents a 13.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,282 shares of company stock valued at $2,099,996 over the last ninety days. 1.80% of the stock is owned by corporate 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.