William Blair Issues Pessimistic Estimate for AKAM Earnings

Akamai Technologies, Inc. (NASDAQ:AKAM - Free Report) - Equities research analysts at William Blair cut their FY2024 earnings per share estimates for Akamai Technologies in a report released on Thursday, December 5th. William Blair analyst J. Ho now expects that the technology infrastructure company will post earnings of $4.26 per share for the year, down from their prior estimate of $4.30. The consensus estimate for Akamai Technologies' current full-year earnings is $4.31 per share. William Blair also issued estimates for Akamai Technologies' Q4 2024 earnings at $0.98 EPS.

Other equities analysts have also issued reports about the stock. Tigress Financial reiterated a "strong-buy" rating and set a $140.00 target price on shares of Akamai Technologies in a research report on Thursday, August 29th. Royal Bank of Canada reissued a "sector perform" rating and issued a $100.00 target price on shares of Akamai Technologies in a research note on Thursday, August 15th. DA Davidson reaffirmed a "buy" rating and set a $115.00 price target on shares of Akamai Technologies in a research note on Friday, August 9th. TD Cowen lifted their target price on shares of Akamai Technologies from $129.00 to $131.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Finally, Robert W. Baird cut their price target on shares of Akamai Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Akamai Technologies currently has an average rating of "Moderate Buy" and an average target price of $117.61.

Akamai Technologies Price Performance

NASDAQ AKAM traded up $0.66 on Friday, hitting $98.06. 1,467,700 shares of the company were exchanged, compared to its average volume of 1,680,587. Akamai Technologies has a 1-year low of $84.70 and a 1-year high of $129.17. The firm has a 50 day moving average of $98.39 and a two-hundred day moving average of $96.30. 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 company has a market cap of $14.73 billion, a P/E ratio of 29.03, a P/E/G ratio of 3.72 and a beta of 0.65.

Insider Activity at Akamai Technologies

In other news, CTO Robert Blumofe sold 2,500 shares of Akamai Technologies stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $88.61, for a total value of $221,525.00. Following the completion of the transaction, the chief technology officer now owns 19,510 shares of the company's stock, valued at $1,728,781.10. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the firm's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $97.30, for a total transaction of $389,200.00. Following the sale, the executive vice president now owns 30,703 shares of the company's stock, valued at approximately $2,987,401.90. This represents a 11.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,500 shares of company stock worth $1,058,625 in the last ninety days. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Akamai Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Park Avenue Securities LLC increased its holdings in Akamai Technologies by 1.9% in the 2nd quarter. Park Avenue Securities LLC now owns 7,237 shares of the technology infrastructure company's stock worth $652,000 after buying an additional 134 shares in the last quarter. CX Institutional lifted its holdings in shares of Akamai Technologies by 5.3% during the 2nd quarter. CX Institutional now owns 8,667 shares of the technology infrastructure company's stock valued at $781,000 after buying an additional 439 shares during the period. Czech National Bank boosted its stake in shares of Akamai Technologies by 9.4% in the 2nd quarter. Czech National Bank now owns 29,025 shares of the technology infrastructure company's stock worth $2,615,000 after buying an additional 2,486 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Akamai Technologies by 36.4% in the second quarter. Diversified Trust Co now owns 9,013 shares of the technology infrastructure company's stock worth $812,000 after acquiring an additional 2,407 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in Akamai Technologies by 6.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,661 shares of the technology infrastructure company's stock valued at $510,000 after acquiring an additional 328 shares during the last quarter. 94.28% of the stock is owned by 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.