Akamai Technologies, Inc. (AKAM) – Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
Akamai Technologies, Inc. (AKAM) is a leading entity in the Technology sector, particularly within the Software – Infrastructure industry. Established in 1998 and headquartered in Cambridge, Massachusetts, Akamai specializes in cloud computing, security services, and content delivery solutions. The company plays a crucial role in safeguarding infrastructures, websites, applications, and users against cyber threats while optimizing performance. With services that encompass web and mobile performance solutions, media delivery, and cloud computing capabilities for application and workload management, Akamai has built a robust market position, boasting a total revenue of approximately $3.93 billion. As a publicly traded company since July 12, 2007, Akamai has garnered a “buy” recommendation from analysts, signaling strong confidence in its growth potential, with a projected target high price of $140.00.
Stock Performance and Investor Sentiment
As of now, Akamai has 151,526,000 outstanding shares, with 8,464,819 shares currently held short, indicating a modest bearish sentiment among some traders. This short interest represents about 0.0647% of the company’s float shares, suggesting that the majority of investors remain optimistic about Akamai’s trajectory. The stock currently trades at $99.515, well below the target high, showcasing significant growth potential. Furthermore, analysts suggest a target mean price of $118.28, emphasizing favorable market expectations. Over the past year, AKAM has experienced considerable volatility, ranging from a low of $87.59 to a high of $129.17, which can indicate trading opportunities for investors looking for favorable entry points.
Analyst Recommendations
The current consensus among 19 analysts tracking Akamai Technologies suggests a strong “buy” recommendation, supported by a mean recommendation score of 2.2. With the current asset price above its fifty-day moving average of $97.9728, the stock demonstrates a potentially bullish trend. The metrics indicate a considerable price movement potential, with a projected target low of $97.80. Overall, the combination of solid revenue performance, favorable analyst sentiment, and price appreciation expectations positions Akamai as a compelling option for growth-oriented investors in the technology sector.
| Metric | Value |
|---|---|
| Market Cap | $15.1b |
| Total Debt | $4.6b |
| Total Cash | $1.6b |
| Shares Outstanding | 151.5m |
| Float Shares | 148.6m |
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