Akamai Technologies (NASDAQ:AKAM) Releases Q2 Earnings Guidance

Akamai Technologies (NASDAQ:AKAM) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.51-1.56 for the period, compared to the consensus estimate of $1.63. The company issued revenue guidance of $967-986 million, compared to the consensus revenue estimate of $1.00 billion. Akamai Technologies also updated its FY 2024 guidance to 6.200-6.400 EPS.

Analysts Set New Price Targets

AKAM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Akamai Technologies from $78.00 to $81.00 and gave the stock an underweight rating in a research note on Wednesday, February 14th. Royal Bank of Canada reissued a sector perform rating and issued a $115.00 target price on shares of Akamai Technologies in a research note on Wednesday, February 14th. Citigroup dropped their price target on Akamai Technologies from $140.00 to $117.00 and set a neutral rating for the company in a research note on Thursday, April 25th. KeyCorp boosted their target price on Akamai Technologies from $134.00 to $138.00 and gave the stock an overweight rating in a research report on Friday, January 19th. Finally, StockNews.com upgraded shares of Akamai Technologies from a hold rating to a buy rating in a research report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has assigned 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 an average price target of $121.60.

Akamai Technologies Stock Up 0.3 %

Akamai Technologies stock traded up $0.34 during mid-day trading on Thursday, hitting $102.46. The company had a trading volume of 3,626,649 shares, compared to its average volume of 1,610,275. Akamai Technologies has a 12 month low of $83.12 and a 12 month high of $129.17. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77. The stock’s 50 day moving average price is $105.68 and its two-hundred day moving average price is $111.90. The company has a market capitalization of $15.53 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 2.81 and a beta of 0.72.

Akamai Technologies (NASDAQ:AKAM) last released its quarterly earnings data on Thursday, May 9th. The technology infrastructure company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.03. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The business had revenue of $986.97 million during the quarter, compared to analyst estimates of $989.03 million. During the same period last year, the business earned $1.01 EPS. Akamai Technologies’s revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Akamai Technologies will post 4.84 earnings per share for the current fiscal year.

Insider Transactions at Akamai Technologies

In related news, COO Adam Karon sold 14,349 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the sale, the chief operating officer now owns 6,697 shares in the company, valued at $735,196.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Adam Karon sold 14,349 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the transaction, the chief operating officer now owns 6,697 shares in the company, valued at approximately $735,196.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Anthony P. Williams sold 3,510 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $112.55, for a total transaction of $395,050.50. Following the sale, the executive vice president now directly owns 4,299 shares of the company’s stock, valued at $483,852.45. The disclosure for this sale can be found here. Insiders sold 30,753 shares of company stock worth $3,368,303 over the last quarter. 2.00% 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.