Oppenheimer Weighs in on Akamai Technologies, Inc.’s Q2 2022 Earnings (NASDAQ:AKAM)

Akamai Technologies, Inc. (NASDAQ:AKAMGet Rating) – Equities research analysts at Oppenheimer cut their Q2 2022 EPS estimates for shares of Akamai Technologies in a research report issued to clients and investors on Wednesday, May 4th. Oppenheimer analyst T. Horan now expects that the technology infrastructure company will post earnings of $1.03 per share for the quarter, down from their previous estimate of $1.17. Oppenheimer also issued estimates for Akamai Technologies’ Q3 2022 earnings at $1.04 EPS and Q4 2022 earnings at $1.12 EPS.

Akamai Technologies (NASDAQ:AKAMGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The technology infrastructure company reported $1.39 earnings per share for the quarter, missing the consensus estimate of $1.42 by ($0.03). The firm had revenue of $903.65 million for the quarter, compared to analyst estimates of $904.89 million. Akamai Technologies had a return on equity of 17.20% and a net margin of 17.46%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.10 earnings per share.

Other equities analysts have also issued research reports about the company. Tigress Financial raised their price objective on Akamai Technologies from $157.00 to $168.00 in a research note on Wednesday, January 26th. Raymond James lowered their price objective on Akamai Technologies from $118.00 to $115.00 in a research note on Wednesday. StockNews.com assumed coverage on Akamai Technologies in a research note on Thursday, March 31st. They set a “buy” rating on the stock. William Blair restated an “outperform” rating on shares of Akamai Technologies in a research note on Tuesday, February 15th. Finally, Royal Bank of Canada lowered their price objective on Akamai Technologies from $140.00 to $135.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $127.50.

NASDAQ:AKAM opened at $98.67 on Friday. The stock has a market cap of $15.88 billion, a P/E ratio of 26.52, a PEG ratio of 1.98 and a beta of 0.60. The stock has a 50 day simple moving average of $115.17 and a 200 day simple moving average of $112.65. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.44. Akamai Technologies has a 1-year low of $96.86 and a 1-year high of $123.25.

In other Akamai Technologies news, EVP Anthony P. Williams sold 3,153 shares of Akamai Technologies stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $110.71, for a total transaction of $349,068.63. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bernardus Johannes M. Verwaayen sold 2,000 shares of Akamai Technologies stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $105.12, for a total value of $210,240.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,325 shares of company stock worth $4,843,886. Corporate insiders own 1.70% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in AKAM. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Akamai Technologies by 0.3% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 27,821 shares of the technology infrastructure company’s stock valued at $3,259,000 after purchasing an additional 89 shares during the period. Mutual of America Capital Management LLC lifted its stake in shares of Akamai Technologies by 0.4% in the 4th quarter. Mutual of America Capital Management LLC now owns 21,458 shares of the technology infrastructure company’s stock valued at $2,511,000 after purchasing an additional 93 shares during the period. Appleton Partners Inc. MA lifted its stake in shares of Akamai Technologies by 2.2% in the 4th quarter. Appleton Partners Inc. MA now owns 4,415 shares of the technology infrastructure company’s stock valued at $517,000 after purchasing an additional 95 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of Akamai Technologies by 1.0% in the 4th quarter. Louisiana State Employees Retirement System now owns 10,200 shares of the technology infrastructure company’s stock valued at $1,194,000 after purchasing an additional 100 shares during the period. Finally, Baystate Wealth Management LLC lifted its stake in shares of Akamai Technologies by 33.3% in the 1st quarter. Baystate Wealth Management LLC now owns 400 shares of the technology infrastructure company’s stock valued at $48,000 after purchasing an additional 100 shares during the period. 91.05% of the stock is currently owned by hedge funds and other institutional investors.

Akamai Technologies Company Profile (Get Rating)

Akamai Technologies, Inc provides cloud services for securing, delivering, and optimizing content and business applications over the internet 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.

Further Reading

Earnings History and Estimates for Akamai Technologies (NASDAQ:AKAM)

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