Akamai Technologies (NASDAQ:AKAM) Releases Q2 Earnings Guidance

Akamai Technologies (NASDAQ:AKAM) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.51-1.56 for the period, compared to the consensus EPS 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.

Wall Street Analyst Weigh In

A number of analysts recently commented on AKAM shares. Royal Bank of Canada reiterated a sector perform rating and set a $115.00 price target on shares of Akamai Technologies in a report on Wednesday, February 14th. Citigroup lowered their price objective on Akamai Technologies from $140.00 to $117.00 and set a neutral rating on the stock in a research note on Thursday, April 25th. StockNews.com upgraded shares of Akamai Technologies from a hold rating to a buy rating in a research report on Thursday, January 25th. KeyCorp boosted their price target on shares of Akamai Technologies from $134.00 to $138.00 and gave the company an overweight rating in a research report on Friday, January 19th. Finally, Piper Sandler raised their price objective on shares of Akamai Technologies from $130.00 to $136.00 and gave the stock an overweight rating in a report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $121.60.

Akamai Technologies Stock Performance

NASDAQ AKAM traded up $0.34 during trading hours on Thursday, hitting $102.46. 3,626,649 shares of the company’s stock traded hands, compared to its average volume of 1,610,275. 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 firm has a market capitalization of $15.53 billion, a P/E ratio of 29.03, a P/E/G ratio of 2.81 and a beta of 0.72. Akamai Technologies has a 52 week low of $83.12 and a 52 week high of $129.17. The business’s fifty day moving average price is $105.68 and its two-hundred day moving average price is $111.90.

Akamai Technologies (NASDAQ:AKAM) last posted its quarterly earnings data on Thursday, May 9th. The technology infrastructure company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.61 by $0.03. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The company had revenue of $986.97 million during the quarter, compared to analyst estimates of $989.03 million. During the same period in the previous year, the firm earned $1.01 earnings per share. Akamai Technologies’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that Akamai Technologies will post 4.84 EPS for the current year.

Insider Activity

In related news, EVP Anthony P. Williams sold 4,500 shares of Akamai Technologies stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total value of $489,285.00. Following the sale, the executive vice president now directly owns 14,938 shares in the company, valued at $1,624,208.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Anthony P. Williams sold 4,500 shares of Akamai Technologies stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $108.73, for a total value of $489,285.00. Following the transaction, the executive vice president now directly owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Anthony P. Williams sold 3,510 shares of the firm’s stock in a transaction 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. Over the last quarter, insiders sold 30,753 shares of company stock valued at $3,368,303. 2.00% of the stock is currently owned by company 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.