Akamai Technologies (NASDAQ:AKAM – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $6.20-6.40 for the period, compared to the consensus earnings per share 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 Price Performance
NASDAQ AKAM opened at $102.46 on Friday. The stock has a market capitalization of $15.53 billion, a P/E ratio of 29.03, a P/E/G ratio of 2.81 and a beta of 0.72. Akamai Technologies has a 1 year low of $83.12 and a 1 year high of $129.17. The business’s fifty day moving average is $105.68 and its two-hundred day moving average is $111.90. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.16 and a current ratio of 2.16.
Akamai Technologies (NASDAQ:AKAM – Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The technology infrastructure company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.03). The company had revenue of $986.97 million during the quarter, compared to the consensus estimate of $989.03 million. Akamai Technologies had a net margin of 14.37% and a return on equity of 14.90%. Akamai Technologies’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 EPS. On average, research analysts forecast that Akamai Technologies will post 4.84 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
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Insider Activity
In related news, COO Adam Karon sold 14,349 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the completion of the sale, the chief operating officer now directly owns 6,697 shares in the company, valued at $735,196.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Akamai Technologies news, EVP Anthony P. Williams sold 4,500 shares of the 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 in the company, valued at $1,624,208.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Adam Karon sold 14,349 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $109.78, for a total value of $1,575,233.22. Following the transaction, the chief operating officer now owns 6,697 shares in the company, valued at approximately $735,196.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,753 shares of company stock worth $3,368,303. 2.00% of the stock is owned by corporate insiders.
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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