Akamai Technologies (NASDAQ:AKAM) Updates Q3 2022 Earnings Guidance – MarketBeat
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
Akamai Technologies (NASDAQ:AKAM – Get Rating) issued an update on its third quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.21-$1.26 for the period, compared to the consensus estimate of $1.29. The company issued revenue guidance of $868.00 million-$883.00 million, compared to the consensus revenue estimate of $900.48 million. Akamai Technologies also updated its FY 2022 guidance to $5.19-$5.37 EPS.
Analyst Ratings Changes
Several equities analysts have commented on AKAM shares. Robert W. Baird lowered their price target on Akamai Technologies from $102.00 to $95.00 and set a neutral rating on the stock in a report on Thursday, August 11th. Morgan Stanley decreased their price objective on Akamai Technologies from $110.00 to $102.00 and set an equal weight rating on the stock in a report on Wednesday, August 10th. KeyCorp dropped their target price on Akamai Technologies from $123.00 to $116.00 and set an overweight rating for the company in a research report on Wednesday, August 10th. Craig Hallum dropped their target price on Akamai Technologies from $120.00 to $90.00 in a report on Wednesday, May 4th. Finally, Citigroup reduced their price target on Akamai Technologies from $105.00 to $98.00 in a research report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $118.21.
Akamai Technologies Stock Performance
Shares of AKAM stock opened at $93.36 on Wednesday. The company has a fifty day moving average price of $92.93 and a two-hundred day moving average price of $103.30. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.92 and a quick ratio of 1.92. The stock has a market cap of $14.84 billion, a P/E ratio of 26.52, a P/E/G ratio of 1.88 and a beta of 0.64. Akamai Technologies has a one year low of $85.90 and a one year high of $123.25.
Akamai Technologies (NASDAQ:AKAM – Get Rating) last posted its earnings results on Tuesday, August 9th. The technology infrastructure company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.04. The firm had revenue of $903.33 million for the quarter, compared to analyst estimates of $898.75 million. Akamai Technologies had a net margin of 16.18% and a return on equity of 16.97%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.18 EPS. As a group, equities analysts predict that Akamai Technologies will post 4.19 EPS for the current year.
Insider Transactions at Akamai Technologies
In other Akamai Technologies news, CTO Robert Blumofe sold 5,000 shares of the stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $94.25, for a total transaction of $471,250.00. Following the transaction, the chief technology officer now directly owns 14,835 shares in the company, valued at $1,398,198.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.70% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Ancora Advisors LLC grew its holdings in Akamai Technologies by 103.3% during the first quarter. Ancora Advisors LLC now owns 250 shares of the technology infrastructure company’s stock worth $25,000 after acquiring an additional 127 shares during the period. Covestor Ltd raised its position in Akamai Technologies by 50.1% in the first quarter. Covestor Ltd now owns 635 shares of the technology infrastructure company’s stock valued at $76,000 after purchasing an additional 212 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Akamai Technologies in the first quarter valued at $105,000. Fairfield Bush & CO. acquired a new position in shares of Akamai Technologies during the 1st quarter worth about $107,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Akamai Technologies in the 1st quarter valued at about $203,000. 91.05% of the stock is currently owned by institutional investors.
About Akamai Technologies
(Get Rating)
Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.
Further Reading
- Get a free copy of the StockNews.com research report on Akamai Technologies (AKAM)
- Will the Real Palantir Please Stand Up?
- Foot Locker Just Because A Very Tempting Buy
- Are Ocugen or Amarin Good Penny Stocks to Buy?
- Are These 2 Fintechs A Buy After Q2 Earnings?
- Is Fisker Ready to Re-Emerge as the Tesla Killer?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Akamai Technologies, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Akamai Technologies wasn’t on the list.
While Akamai Technologies currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Complete the form below to receive the latest headlines and analysts’ recommendations for your stocks with our free daily email newsletter:
Strategy for maintaining your portfolio value while still making withdrawals to pay your life expenses. And most importantly, avoiding big losses.
Sign up for MarketBeat All Access to gain access to MarketBeat’s full suite of research tools:
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat’s trending stocks report.
Identify stocks that meet your criteria using seven unique stock screeners. See what’s happening in the market right now with MarketBeat’s real-time news feed. Export data to Excel for your own analysis.
MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.
Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.
Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.
As Featured By:
MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.
Twitter Facebook StockTwits Financial Juice YouTube
© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | contact@marketbeat.com | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.
Our Accessibility Statement | Terms of Service | Privacy Policy | Do Not Sell My Information | RSS Feeds
© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer.