Research Analysts Set Expectations for Akamai Technologies, Inc.'s FY2022 Earnings (NASDAQ:AKAM) – MarketBeat

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Akamai Technologies, Inc. (NASDAQ:AKAM – Get Rating) – Analysts at DA Davidson decreased their FY2022 earnings estimates for shares of Akamai Technologies in a research note issued on Wednesday, November 9th. DA Davidson analyst R. Kessinger now forecasts that the technology infrastructure company will post earnings of $4.17 per share for the year, down from their previous forecast of $4.21. The consensus estimate for Akamai Technologies’ current full-year earnings is $4.19 per share. DA Davidson also issued estimates for Akamai Technologies’ Q4 2022 earnings at $1.00 EPS and FY2023 earnings at $4.32 EPS.
AKAM has been the subject of several other research reports. KeyCorp lowered their price target on Akamai Technologies from $116.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday. Morgan Stanley lowered their target price on shares of Akamai Technologies from $98.00 to $92.00 and set an “equal weight” rating for the company in a research note on Wednesday. StockNews.com lowered shares of Akamai Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, October 20th. Cowen decreased their price target on shares of Akamai Technologies from $164.00 to $137.00 in a report on Wednesday. Finally, Citigroup dropped their price objective on shares of Akamai Technologies from $105.00 to $98.00 in a report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $113.87.

Akamai Technologies Stock Up 6.2 %

Shares of AKAM stock opened at $89.08 on Thursday. The stock’s fifty day moving average price is $85.33 and its 200 day moving average price is $92.55. Akamai Technologies has a 1-year low of $76.28 and a 1-year high of $123.25. The company has a market cap of $14.16 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 1.67 and a beta of 0.71. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.92 and a quick ratio of 1.92.
Akamai Technologies (NASDAQ:AKAM – Get Rating) last released its quarterly earnings results on Tuesday, November 8th. The technology infrastructure company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.04. Akamai Technologies had a net margin of 16.18% and a return on equity of 16.97%. The business had revenue of $881.90 million for the quarter, compared to analyst estimates of $875.99 million. During the same period in the previous year, the company earned $1.20 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis.

Institutional Trading of Akamai Technologies

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Akamai Technologies by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 17,880,191 shares of the technology infrastructure company’s stock valued at $2,134,716,000 after buying an additional 254,437 shares in the last quarter. Legal & General Group Plc grew its position in shares of Akamai Technologies by 5.8% in the second quarter. Legal & General Group Plc now owns 2,737,721 shares of the technology infrastructure company’s stock valued at $250,036,000 after purchasing an additional 149,461 shares during the period. Champlain Investment Partners LLC increased its stake in shares of Akamai Technologies by 24.1% during the second quarter. Champlain Investment Partners LLC now owns 2,106,855 shares of the technology infrastructure company’s stock worth $192,419,000 after purchasing an additional 408,535 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its position in shares of Akamai Technologies by 2.1% during the 1st quarter. Disciplined Growth Investors Inc. MN now owns 1,600,852 shares of the technology infrastructure company’s stock worth $191,126,000 after purchasing an additional 32,413 shares during the last quarter. Finally, LGT Capital Partners LTD. lifted its stake in Akamai Technologies by 12.8% in the 2nd quarter. LGT Capital Partners LTD. now owns 1,386,396 shares of the technology infrastructure company’s stock valued at $126,620,000 after buying an additional 157,865 shares in the last quarter. 92.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CTO Robert Blumofe sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $94.25, for a total transaction of $471,250.00. Following the sale, the chief technology officer now directly owns 14,835 shares of the company’s stock, valued at $1,398,198.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CTO Robert Blumofe sold 5,000 shares of the firm’s stock in a transaction 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 sale, the chief technology officer now owns 14,835 shares in the company, valued at $1,398,198.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Paul C. Joseph sold 1,500 shares of Akamai Technologies stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $80.79, for a total transaction of $121,185.00. Following the completion of the transaction, the executive vice president now directly owns 31,183 shares of the company’s stock, valued at approximately $2,519,274.57. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Akamai Technologies Company Profile

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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.

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