Akamai Technologies (AKAM) Stock Forecast, Price & News

16 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Akamai Technologies in the last twelve months. There are currently 1 sell rating, 3 hold ratings, 11 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" AKAM shares.
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16 analysts have issued 1 year target prices for Akamai Technologies' shares. Their AKAM share price forecasts range from $75.00 to $145.00. On average, they anticipate the company's share price to reach $109.41 in the next twelve months. This suggests a possible upside of 1.7% from the stock's current price.
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Akamai Technologies' stock was trading at $84.30 at the beginning of 2023. Since then, AKAM stock has increased by 27.7% and is now trading at $107.61.
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Akamai Technologies saw a increase in short interest in August. As of August 31st, there was short interest totaling 7,890,000 shares, an increase of 19.4% from the August 15th total of 6,610,000 shares. Based on an average daily volume of 1,520,000 shares, the days-to-cover ratio is currently 5.2 days. Approximately 5.3% 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, November 14th 2023.
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Akamai Technologies, Inc. (NASDAQ:AKAM) released its quarterly earnings data on Tuesday, August, 8th. The technology infrastructure company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.11 by $0.10. The technology infrastructure company earned $935.72 million during the quarter, compared to analysts' expectations of $931.52 million. Akamai Technologies had a net margin of 12.64% and a trailing twelve-month return on equity of 14.41%.

ETFs with the largest weight of Akamai Technologies (NASDAQ:AKAM) stock in their portfolio include ETFMG Prime Cyber Security ETF (HACK), WisdomTree Cybersecurity Fund (WCBR), Global X Cloud Computing ETF (CLOU), iShares Cybersecurity and Tech ETF (IHAK), SPDR S&P Internet ETF (XWEB), Defiance Next Gen Connectivity ETF (FIVG), First Trust Nasdaq Cybersecurity ETF (CIBR) and Invesco Next Gen Connectivity ETF (PXQ).

Akamai Technologies declared that its Board of Directors has initiated a stock repurchase program on Tuesday, November 2nd 2021, which allows the company to repurchase $1,800,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization allows the company to reacquire up to 10% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Akamai Technologies issued an update on its FY23 earnings guidance on Tuesday, August, 8th. The company provided earnings per share (EPS) guidance of $5.87-$5.95 for the period, compared to the consensus earnings per share estimate of $5.75. The company issued revenue guidance of $3.765-$3.795 billion, compared to the consensus revenue estimate of $3.76 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 trades on the NASDAQ under the ticker symbol "AKAM."

Akamai Technologies' stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Nordea Investment Management AB (2.88%), Geode Capital Management LLC (2.36%), Alliancebernstein L.P. (2.02%), King Luther Capital Management Corp (1.69%), Champlain Investment Partners LLC (1.63%) and Bank Julius Baer & Co. Ltd Zurich (1.47%). Insiders that own company stock include Aaron Ahola, Adam Karon, Anthony P Williams, Bernardus Johannes M Verwaayen, Edward J Mcgowan, F Thomson Leighton, Jill A Greenthal, 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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of AKAM stock can currently be purchased for approximately $107.61.

Akamai Technologies (NASDAQ:AKAM) has a market capitalization of $16.33 billion and generates $3.66 billion in revenue each year. The technology infrastructure company earns $523.67 million in net income (profit) each year or $2.96 on an earnings per share basis.

The company employs 9,800 workers across the globe.

Akamai Technologies' mailing address is 145 BROADWAY, CAMBRIDGE MA, 02142. The official website for the company is www.akamai.com. The technology infrastructure company can be reached via phone at (617) 444-3000, via email at invrel@akamai.com, or via fax at 617-444-3001.