Akamai Technologies (NASDAQ:AKAM – Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 6.200-6.400 for the period, compared to the consensus earnings per share estimate of 6.730. The company issued revenue guidance of $4.0 billion-$4.0 billion, compared to the consensus revenue estimate of $4.1 billion. Akamai Technologies also updated its FY24 guidance to $6.20-6.40 EPS.
Akamai Technologies Stock Up 0.3 %
NASDAQ:AKAM traded up $0.34 during midday trading on Thursday, reaching $102.46. The company had a trading volume of 3,626,649 shares, compared to its average volume of 1,610,275. The firm has a market capitalization of $15.53 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 2.81 and a beta of 0.72. The stock’s fifty day simple moving average is $105.68 and its 200-day simple moving average is $111.90. 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.
Akamai Technologies (NASDAQ:AKAM – Get Free Report) last released its earnings results on Thursday, May 9th. The technology infrastructure company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.03. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The firm 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 posted $1.01 earnings per share. Akamai Technologies’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Akamai Technologies will post 4.84 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
View Our Latest Stock Report on AKAM
Insider Transactions at Akamai Technologies
In other news, COO Adam Karon sold 8,394 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.26, for a total transaction of $908,734.44. Following the sale, the chief operating officer now owns 21,046 shares of the company’s stock, valued at approximately $2,278,439.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Adam Karon sold 8,394 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $108.26, for a total transaction of $908,734.44. Following the sale, the chief operating officer now owns 21,046 shares of the company’s stock, valued at approximately $2,278,439.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Anthony P. Williams sold 3,510 shares of Akamai Technologies stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $112.55, for a total value of $395,050.50. Following the transaction, the executive vice president now owns 4,299 shares of the company’s stock, valued at $483,852.45. The disclosure for this sale can be found here. Insiders have sold 30,753 shares of company stock valued at $3,368,303 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.
About Akamai Technologies
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.
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