FY2024 Earnings Estimate for AKAM Issued By Scotiabank

Akamai Technologies, Inc. (NASDAQ:AKAM) – Equities research analysts at Scotiabank issued their FY2024 earnings estimates for shares of Akamai Technologies in a note issued to investors on Wednesday, January 8th. Scotiabank analyst P. Colville expects that the technology infrastructure company will earn $4.30 per share for the year. Scotiabank currently has a “Sector Outperform” rating and a $112.00 target price on the stock. The consensus estimate for Akamai Technologies’ current full-year earnings is $4.29 per share. Scotiabank also issued estimates for Akamai Technologies’ FY2025 earnings at $4.55 EPS.

A number of other research firms also recently issued reports on AKAM. Evercore ISI restated an “outperform” rating and set a $110.00 price objective on shares of Akamai Technologies in a report on Tuesday, December 17th. Hsbc Global Res raised Akamai Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. HSBC raised Akamai Technologies from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Monday, November 11th. Oppenheimer upgraded shares of Akamai Technologies from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research report on Monday, December 2nd. Finally, UBS Group began coverage on Akamai Technologies in a research report on Monday, December 16th. They issued a “neutral” rating and a $110.00 price target for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Akamai Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $116.85.

Akamai Technologies Stock Up 1.1 %

AKAM stock opened at $90.58 on Monday. The stock has a market cap of $13.61 billion, a P/E ratio of 26.80, a P/E/G ratio of 3.83 and a beta of 0.64. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock’s fifty day simple moving average is $94.75 and its two-hundred day simple moving average is $97.35. Akamai Technologies has a 1-year low of $84.70 and a 1-year high of $129.17.

Insider Activity

In other Akamai Technologies news, Director William Raymond Wagner sold 1,000 shares of Akamai Technologies stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $93.38, for a total value of $93,380.00. Following the completion of the sale, the director now owns 15,719 shares of the company’s stock, valued at approximately $1,467,840.22. This trade represents a 5.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Edward J. Mcgowan sold 10,782 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $98.71, for a total value of $1,064,291.22. Following the completion of the transaction, the chief financial officer now directly owns 12,716 shares of the company’s stock, valued at approximately $1,255,196.36. This trade represents a 45.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,282 shares of company stock worth $1,733,716 in the last quarter. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC grew its position in shares of Akamai Technologies by 85.7% during the third quarter. Farther Finance Advisors LLC now owns 247 shares of the technology infrastructure company’s stock worth $25,000 after purchasing an additional 114 shares in the last quarter. Bruce G. Allen Investments LLC raised its position in shares of Akamai Technologies by 38.8% during the fourth quarter. Bruce G. Allen Investments LLC now owns 554 shares of the technology infrastructure company’s stock valued at $53,000 after buying an additional 155 shares during the last quarter. Eastern Bank purchased a new position in shares of Akamai Technologies in the third quarter worth $71,000. Covestor Ltd lifted its holdings in shares of Akamai Technologies by 67.7% in the third quarter. Covestor Ltd now owns 887 shares of the technology infrastructure company’s stock worth $90,000 after buying an additional 358 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Akamai Technologies during the third quarter worth $102,000. Institutional investors own 94.28% 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.