Akamai Technologies (NASDAQ:AKAM – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $6.20-6.40 for the period, compared to the consensus EPS estimate of $6.73. The company issued revenue guidance of $3.95-4.02 billion, compared to the consensus revenue estimate of $4.08 billion. Akamai Technologies also updated its FY 2024 guidance to 6.200-6.400 EPS.
Akamai Technologies Stock Performance
Shares of Akamai Technologies stock traded up $0.34 during trading on Thursday, reaching $102.46. The company’s stock had a trading volume of 3,312,393 shares, compared to its average volume of 1,607,297. Akamai Technologies has a 52 week low of $83.12 and a 52 week high of $129.17. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.77. The business’s 50-day moving average price is $105.85 and its 200-day moving average price is $111.96. The firm has a market cap of $15.53 billion, a PE ratio of 28.93, a P/E/G ratio of 2.81 and a beta of 0.72.
Akamai Technologies (NASDAQ:AKAM – Get Free Report) last announced its earnings results on Tuesday, February 13th. The technology infrastructure company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.59 by $0.10. The company had revenue of $995.00 million for the quarter, compared to analysts’ expectations of $999.09 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $1.01 earnings per share. Equities analysts forecast that Akamai Technologies will post 4.84 earnings per share for the current year.
Analysts Set New Price Targets
Check Out Our Latest Report on AKAM
Insider Buying and Selling at Akamai Technologies
In other news, COO Adam Karon sold 8,394 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.26, for a total value of $908,734.44. Following the sale, the chief operating officer now directly owns 21,046 shares of the company’s stock, valued at $2,278,439.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Akamai Technologies news, EVP Anthony P. Williams sold 4,500 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $108.73, for a total transaction of $489,285.00. Following the completion of the sale, the executive vice president now directly owns 14,938 shares in the company, valued at approximately $1,624,208.74. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Adam Karon sold 8,394 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $108.26, for a total value of $908,734.44. Following the completion of the transaction, the chief operating officer now owns 21,046 shares in the company, valued at $2,278,439.96. 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. Corporate insiders own 2.00% 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.
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