Akamai Technologies (AKAM) Stock Price, News & Analysis

18 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Akamai Technologies in the last twelve months. There are currently 2 sell ratings, 6 hold ratings, 9 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" AKAM shares.
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18 equities research analysts have issued 12 month price targets for Akamai Technologies' stock. Their AKAM share price targets range from $81.00 to $135.00. On average, they anticipate the company's stock price to reach $114.00 in the next year. This suggests a possible upside of 22.5% from the stock's current price.
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Akamai Technologies' stock was trading at $118.35 at the beginning of the year. Since then, AKAM stock has decreased by 21.4% and is now trading at $93.05.
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Akamai Technologies saw a increase in short interest in May. As of May 15th, there was short interest totaling 7,800,000 shares, an increase of 6.0% from the April 30th total of 7,360,000 shares. Based on an average daily volume of 1,690,000 shares, the days-to-cover ratio is presently 4.6 days. Currently, 5.2% of the shares of the stock are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, August 13th 2024.
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Akamai Technologies, Inc. (NASDAQ:AKAM) released its earnings results on Friday, May, 10th. The technology infrastructure company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.03. The technology infrastructure company earned $986.97 million during the quarter, compared to the consensus estimate of $989.03 million. Akamai Technologies had a trailing twelve-month return on equity of 15.02% and a net margin of 16.12%. The firm's revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 EPS.
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ETFs with the largest weight of Akamai Technologies (NASDAQ:AKAM) stock in their portfolio include Global X Cloud Computing ETF (CLOU), WisdomTree Cybersecurity Fund (WCBR), SPDR S&P Internet ETF (XWEB), iShares Cybersecurity and Tech ETF (IHAK), Bitwise Web3 ETF (BWEB), First Trust Nasdaq Cybersecurity ETF (CIBR), Direxion Daily Cloud Computing Bull 2x (CLDL) and First Trust Cloud Computing ETF (SKYY).

Akamai Technologies announced that its board has initiated a stock buyback program on Thursday, May 9th 2024, which allows the company to buyback $2,000,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization allows the company to repurchase up to 13.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Akamai Technologies issued an update on its second quarter 2024 earnings guidance on Thursday, May, 9th. The company provided earnings per share guidance of 1.510-1.560 for the period, compared to the consensus earnings per share estimate of 1.630. The company issued revenue guidance of $967.0 million-$986.0 million, compared to the consensus revenue estimate of $1.0 billion.

1,067 employees have rated Akamai Technologies Chief Executive Officer Tom Leighton on Glassdoor.com. Tom Leighton has an approval rating of 95% among the company's employees. This puts Tom Leighton in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Akamai Technologies investors own include NVIDIA (NVDA), Alibaba Group (BABA), Intel (INTC), Advanced Micro Devices (AMD), Micron Technology (MU), Cisco Systems (CSCO), Netflix (NFLX), QUALCOMM (QCOM), Adobe (ADBE) and Salesforce (CRM).

Akamai Technologies' stock is owned by a variety of institutional and retail investors. Top institutional investors include Vanguard Group Inc. (11.72%), Nordea Investment Management AB (1.94%), Earnest Partners LLC (1.38%), Champlain Investment Partners LLC (0.89%), Canada Pension Plan Investment Board (0.69%) and Portman Square Capital LLP (0.00%). Insiders that own company stock include Aaron Ahola, Adam Karon, Anthony P Williams, Bernardus Johannes M Verwaayen, Edward J Mcgowan, F Thomson Leighton, Kim Salem-Jackson, Madhu Ranganathan, Mani Sundaram, Monte E Ford, Paul C Joseph, Rick M Mcconnell, Rick M Mcconnell and Robert Blumofe.
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Shares of AKAM stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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