Akamai Technologies Inc [NASDAQ: AKAM] price plunged by -8.20 percent to reach at -$10.25. The company report on February 13, 2024 at 4:01 PM that Akamai Takes Cloud Computing to the Edge.
New initiative, code-named Gecko, accelerates Akamai’s build-out of the world’s most distributed cloud computing platform.
Akamai Technologies (NASDAQ: AKAM), the cloud company that powers and protects life online, today unveiled plans to embed cloud computing capabilities into its massive edge network. Akamai’s Generalized Edge Compute (Gecko) advances Akamai’s strategy to be the cloud computing platform for companies that want to deliver better experiences by running workloads closer to users, devices, and sources of data.
The one-year AKAM stock forecast points to a potential upside of 9.4. The average equity rating for AKAM stock is currently 2.33, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Akamai Technologies Inc [AKAM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AKAM shares is $126.71 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AKAM stock is a recommendation set at 2.33. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Susquehanna have made an estimate for Akamai Technologies Inc shares, keeping their opinion on the stock as Positive, with their previous recommendation back on December 15, 2023.
The Average True Range (ATR) for Akamai Technologies Inc is set at 2.56, with the Price to Sales ratio for AKAM stock in the period of the last 12 months amounting to 4.54. The Price to Book ratio for the last quarter was 3.77, with the Price to Cash per share for the same quarter was set at 5.73. Price to Free Cash Flow for AKAM in the course of the last twelve months was 34.81 with Quick ratio for the last quarter at 2.26.
AKAM Stock Performance Analysis:
Akamai Technologies Inc [AKAM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.58. With this latest performance, AKAM shares dropped by -3.10% in over the last four-week period, additionally plugging by 11.34% over the last 6 months – not to mention a rise of 30.50% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AKAM stock in for the last two-week period is set at 32.08, with the RSI for the last a single of trading hit 24.16, and the three-weeks RSI is set at 38.03 for Akamai Technologies Inc [AKAM]. The present Moving Average for the last 50 days of trading for this stock 119.80, while it was recorded at 124.62 for the last single week of trading, and 104.09 for the last 200 days.
Insight into Akamai Technologies Inc Fundamentals:
Akamai Technologies Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.26 and a Current Ratio set at 2.16.
AKAM Stock EPS
With the latest financial reports released by the company, Akamai Technologies Inc posted 1.4/share EPS, while the average EPS was predicted by analysts to be reported at 1.32/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AKAM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Akamai Technologies Inc go to 7.90%.
Akamai Technologies Inc [AKAM] Institutonal Ownership Details
The top three institutional holders of AKAM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AKAM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AKAM stock with ownership which is approximately 5.8325%.
