Akamai Technologies (NASDAQ:AKAM) Issues Q4 2024 Earnings Guidance

Akamai Technologies (NASDAQ:AKAM) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.490-1.560 for the period, compared to the consensus EPS estimate of 1.620. The company issued revenue guidance of $995.0 million-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion. Akamai Technologies also updated its FY 2024 guidance to 6.310-6.380 EPS.

Analyst Ratings Changes

AKAM has been the subject of a number of recent research reports. Guggenheim upgraded shares of Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective for the company in a research note on Monday, July 29th. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a report on Friday, August 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 target price on shares of Akamai Technologies in a report on Thursday, August 15th. Hsbc Global Res raised shares of Akamai Technologies from a “moderate sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Piper Sandler decreased their price target on shares of Akamai Technologies from $114.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.29.

Akamai Technologies Stock Performance

Shares of NASDAQ AKAM traded down $15.03 during midday trading on Friday, reaching $89.37. 9,015,282 shares of the company traded hands, compared to its average volume of 1,449,704. The stock has a 50-day moving average price of $100.87 and a 200 day moving average price of $97.19. The company has a market cap of $13.54 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 3.36 and a beta of 0.68. Akamai Technologies has a 52 week low of $87.59 and a 52 week high of $129.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.32 and a quick ratio of 1.32.

Akamai Technologies (NASDAQ:AKAM) last issued its quarterly earnings results on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. The company had revenue of $979.60 million for the quarter, compared to the consensus estimate of $977.67 million. Akamai Technologies had a return on equity of 14.78% and a net margin of 16.01%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.01 EPS. Sell-side analysts anticipate that Akamai Technologies will post 4.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the transaction, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $100.73, for a total value of $100,730.00. Following the transaction, the director now owns 16,719 shares of the company’s stock, valued at $1,684,104.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $97.30, for a total value of $389,200.00. Following the completion of the sale, the executive vice president now directly owns 30,703 shares in the company, valued at approximately $2,987,401.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,500 shares of company stock worth $741,655 in the last 90 days. Company insiders own 1.80% of the company’s stock.

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.