Akamai Technologies Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Author: Avi Kapoor | May 09, 2024 10:24am

Akamai Technologies, Inc. (NASDAQ:AKAM) is expected to release earnings results for its first quarter, after the closing bell on May 9.

Analysts expect the Cambridge, Massachusetts-based company to report quarterly earnings at $1.61 per share, up from $1.4 per share in the year-ago quarter. Akamai Technologies is projected to report quarterly revenue of $989.26 million, compared to $910.52 million in the year-earlier quarter, according to data from Benzinga Pro.

On May 7, Akamai Technologies entered into a definitive agreement to acquire application programming interface (API) security company, Noname Security.

Akamai Technologies shares rose 0.4% to close at $102.12 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate <a href=”https://www.benzinga.com/quote/AKAM/analyst-ratings”><em> analysts have rated the company </em></a> in the recent period.

• Citigroup analyst Fatima Boolani maintained a Neutral rating and cut the price target from $140 to $117 on April 25. This analyst has an accuracy rate of 73%.
• Tigress Financial analyst Ivan Feinseth maintained a Strong Buy rating and increased the price target from $132 to $140 on March 8. This analyst has an accuracy rate of 71%.
• Baird analyst William Power upgraded the stock from Neutral to Outperform and boosted the price target from $128 to $135 on March 7. This analyst has an accuracy rate of 85%.
• HSBC analyst Stephen Bersey downgraded the stock from Hold to Reduce and slashed the price target from $109 to $96 on Feb. 15. This analyst has an accuracy rate of 63%.
• JP Morgan analyst Mark Murphy maintained an Underweight rating and increased the price target from $78 to $81 on Feb. 14. This analyst has an accuracy rate of 78%.

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Posted In: AKAM