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

Akamai Technologies (NASDAQ:AKAM) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. 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.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AKAM shares. HSBC upgraded Akamai Technologies from a “reduce” rating to a “hold” rating and set a $96.00 price target for the company in a research note on Wednesday, July 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 target price on shares of Akamai Technologies in a research note on Thursday, August 15th. Hsbc Global Res upgraded Akamai Technologies from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, July 24th. DA Davidson reaffirmed a “buy” rating and set a $115.00 price objective on shares of Akamai Technologies in a report on Friday, August 9th. Finally, Scotiabank dropped their target price on shares of Akamai Technologies from $115.00 to $112.00 and set a “sector outperform” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.29.

Akamai Technologies Stock Down 14.4 %

AKAM stock traded down $15.03 on Friday, hitting $89.37. 9,015,282 shares of the company’s stock were exchanged, compared to its average volume of 1,449,704. The firm has a 50 day moving average price of $100.87 and a two-hundred day moving average price of $97.19. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.32. Akamai Technologies has a 12-month low of $87.59 and a 12-month high of $129.17. The stock has a market cap of $13.54 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 3.36 and a beta of 0.68.

Akamai Technologies (NASDAQ:AKAM) last announced its quarterly earnings data on Thursday, August 8th. The technology infrastructure company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.53 by $0.05. The firm had revenue of $979.60 million during the quarter, compared to analyst estimates of $977.67 million. Akamai Technologies had a net margin of 16.01% and a return on equity of 14.78%. Akamai Technologies’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $1.01 EPS. As a group, equities research analysts expect that Akamai Technologies will post 4.42 EPS 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 on 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director William Raymond Wagner sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the transaction, the director now directly owns 16,719 shares of the company’s stock, valued at approximately $1,684,104.87. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Paul C. Joseph sold 4,000 shares of the 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 completion of the sale, the executive vice president now owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,500 shares of company stock valued at $741,655. Insiders own 1.80% of the company’s stock.

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.