Akamai Technologies (NASDAQ:AKAM – Get Free Report) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.51-1.56 for the period, compared to the consensus earnings per share 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.
Akamai Technologies Price Performance
Shares of AKAM stock opened at $102.46 on Friday. The business’s fifty day moving average is $105.68 and its 200 day moving average is $111.90. 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 stock has a market cap of $15.53 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 2.81 and a beta of 0.72. Akamai Technologies has a twelve month low of $83.12 and a twelve month high of $129.17.
Akamai Technologies (NASDAQ:AKAM – Get Free Report) last released its earnings results on Thursday, May 9th. The technology infrastructure company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.03). The company had revenue of $986.97 million during the quarter, compared to analysts’ expectations of $989.03 million. Akamai Technologies had a return on equity of 14.90% and a net margin of 14.37%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 earnings per share. Research analysts expect that Akamai Technologies will post 4.84 EPS for the current fiscal year.
Analysts Set New Price Targets
Read Our Latest Stock Analysis on Akamai Technologies
Insider Buying and Selling at Akamai Technologies
In other Akamai Technologies news, EVP Anthony P. Williams sold 4,500 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 14,938 shares in the company, valued at approximately $1,624,208.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Anthony P. Williams sold 4,500 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $108.73, for a total value of $489,285.00. Following the completion of the transaction, the executive vice president now owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Anthony P. Williams sold 3,510 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $112.55, for a total value of $395,050.50. Following the sale, the executive vice president now owns 4,299 shares of the company’s stock, valued at approximately $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. Company insiders own 2.00% 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.
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