Akamai Technologies Inc [AKAM] moved up 2.42: Why It’s Important

Akamai Technologies Inc [NASDAQ: AKAM] price surged by 2.42 percent to reach at $2.67. The company report on March 7, 2024 at 6:30 AM that Scaleflex Joins Akamai Qualified Computing Partner Program.

Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, today announced a partnership with Scaleflex, the first visual experience platform to join the Akamai Qualified Computing Partner Program.

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Scaleflex and Akamai work together to help provide online brands with an end-to-end digital asset management solution that runs on Akamai Connected Cloud, a massively distributed edge and cloud platform that puts apps and experiences closer to users and keeps threats farther away. The partnership is intended to help customers turn billions of visual assets into countless user experiences.

The one-year AKAM stock forecast points to a potential upside of 11.47. The average equity rating for AKAM stock is currently 2.29, 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 $127.45 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 2.29. 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.

Robert W. Baird have made an estimate for Akamai Technologies Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on Mar-08-24. While these analysts kept the previous recommendation, HSBC Securities raised their target price from $109 to $96. The new note on the price target was released on February 15, 2024, representing the official price target for Akamai Technologies Inc stock. Previously, the target price had yet another raise to $150, while Susquehanna analysts kept a Positive rating on AKAM stock.

The Average True Range (ATR) for Akamai Technologies Inc is set at 2.24, with the Price to Sales ratio for AKAM stock in the period of the last 12 months amounting to 4.49. The Price to Book ratio for the last quarter was 3.71, with the Price to Cash per share for the same quarter was set at 5.70. Price to Free Cash Flow for AKAM in the course of the last twelve months was 27.65 with Quick ratio for the last quarter at 2.11.

AKAM Stock Performance Analysis:

Akamai Technologies Inc [AKAM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.72. With this latest performance, AKAM shares dropped by -9.36% in over the last four-week period, additionally plugging by 8.70% over the last 6 months – not to mention a rise of 51.00% 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 47.32, with the RSI for the last a single of trading hit 53.30, and the three-weeks RSI is set at 45.95 for Akamai Technologies Inc [AKAM]. The present Moving Average for the last 50 days of trading for this stock 117.42, while it was recorded at 110.67 for the last single week of trading, and 106.07 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 2.11 and a Current Ratio set at 2.11.

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%.