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 (EPS) guidance of $1.51-1.56 for the period, compared to the consensus 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 Stock Performance
NASDAQ:AKAM opened at $102.46 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.16 and a quick ratio of 2.16. The firm has a market capitalization of $15.53 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 2.81 and a beta of 0.72. The company’s 50-day moving average is $105.68 and its two-hundred day moving average is $111.90. Akamai Technologies has a 1-year low of $83.12 and a 1-year high of $129.17.
Akamai Technologies (NASDAQ:AKAM – Get Free Report) last posted its earnings results on Thursday, May 9th. The technology infrastructure company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.03). The firm had revenue of $986.97 million during the quarter, compared to analyst estimates of $989.03 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 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. Analysts forecast that Akamai Technologies will post 4.84 EPS for the current year.
Analysts Set New Price Targets
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Insiders Place Their Bets
In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the transaction, the chief operating officer now owns 6,697 shares in the company, valued at approximately $735,196.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Akamai Technologies news, COO Adam Karon sold 14,349 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total transaction of $1,575,233.22. Following the completion of the transaction, the chief operating officer now owns 6,697 shares in the company, valued at approximately $735,196.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Anthony P. Williams sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $108.73, for a total transaction of $489,285.00. Following the transaction, the executive vice president now owns 14,938 shares of the company’s stock, valued at approximately $1,624,208.74. The disclosure for this sale can be found here. Insiders sold 30,753 shares of company stock worth $3,368,303 in the last 90 days. Corporate 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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