# Akamai Technologies, Inc. (AKAM)

> Source: Nexqual · https://nexqual.com/AKAM · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Akamai Technologies, Inc. (AKAM), nexqual.com/AKAM" · informational, not investment advice.

**Price:** USD 91.13 (+0.95% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 90.27 · day 88.5–91.64 · 52w 70.82–165.45 · market cap $13.1B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $4.32B, net income $411M (9.5% margin), free cash flow $956M (SEC filings).
- Valuation: P/E 31.9x (avg 30.4x at the last 3 fiscal year-ends), EV/EBITDA 13.2x, net debt $2.50B.
- 1 of 80 tracked superinvestors hold AKAM (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 6 Form 4 filings, $2.2M; 0 not under a Rule 10b5-1 plan ($0K); 3 by opportunistic insiders (0 outside 10b5-1 plans), 3 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.25 on a 1–5 scale) (24 analysts), mean target USD 154.96 (range 93–225).
- Total return with dividends: 1Y +22.1% vs S&P 500 +14.9%; 5Y -15.6% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 1.67, revenue estimate $1.12B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.46B | $3.62B | $3.81B | $3.99B | $4.21B | $4.32B |
| Gross profit | $2.19B | $2.23B | $2.30B | $2.37B | $2.48B | — |
| Operating income | $783M | $676M | $637M | $533M | $567M | $456M |
| Net income | $652M | $524M | $548M | $505M | $452M | $411M |
| EPS (diluted) | $3.93 | $3.26 | $3.52 | $3.27 | $3.07 | — |
| Free cash flow | $1.08B | $1.03B | $891M | $1.13B | $1.01B | $956M |
| Gross margin | 63.3% | 61.7% | 60.4% | 59.4% | 58.9% | — |
| Operating margin | 22.6% | 18.7% | 16.7% | 13.4% | 13.5% | 10.5% |
| Net margin | 18.8% | 14.5% | 14.4% | 12.7% | 10.7% | 9.5% |
| Revenue growth | +8.2% | +4.5% | +5.4% | +4.7% | +5.4% | — |
| Cash + short-term investments | $1.08B | $1.11B | $864M | $1.60B | $1.19B | — |
| Total debt | $1.98B | $2.29B | $3.54B | $2.40B | $4.11B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 31.9x · P/S 3.0x · EV/EBITDA 13.2x · EV/Sales 3.6x · P/FCF 13.7x · P/B 2.8x · FCF yield 7.30% · Earnings yield 3.14% · Buyback yield (TTM) 4.70% · Net debt $2.50B · EV $15.6B
P/E at fiscal year-ends: Dec 2025 28.4x, Dec 2024 29.2x, Dec 2023 33.6x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold AKAM. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Hillman Capital | Hillman Capital Management | 1.40% | $1.9M | Reduced -28.2% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
6 of 6 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-25 | Sundaram Mani | EVP and GM Security | 7,022 | $882K | 32.1% | Yes (adopted May 22, 2026) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-09-25 | Salem-Jackson Kim | EVP, Chief Marketing Officer | 2,013 | $258K | 3.4% | Yes (adopted March 10, 2026) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-09-15 | Joseph Paul C | EVP - Global Sales | 3,100 | $327K | 9.8% | Yes (adopted March 4, 2026) | Routine (sold in Jan & Mar & Sep & Nov each year 2023–2025) |
| 2026-07-15 | Joseph Paul C | EVP - Global Sales | 3,100 | $393K | 8.9% | Yes (adopted March 4, 2026) | Routine (sold in Jan & Mar & Sep & Nov each year 2023–2025; this trade is outside those months) |
| 2026-06-18 | Blumofe Robert | Chief Technology Officer | 243 | $31K | 0.8% | Yes (adopted March 13, 2026) | Routine (sold in Jun & Aug & Nov each year 2023–2025) |
| 2026-06-10 | Salem-Jackson Kim | EVP, Chief Marketing Officer | 2,300 | $312K | 3.7% | Yes (adopted March 10, 2026) | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.25 on a 1–5 scale), 24 analysts; mean target USD 154.96 (low 93, high 225).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | UBS | Target lowered | Neutral | $148 → $100 |
| 2026-10-21 | Piper Sandler | Target lowered | Overweight | $158 → $120 |
| 2026-10-20 | Raymond James | Upgrade | Outperform → Strong Buy | $170 |
| 2026-09-30 | DA Davidson | Maintained | Buy | $150 |
| 2026-09-29 | DA Davidson | Maintained | Buy | $150 |
| 2026-09-28 | DA Davidson | Target lowered | Buy | $185 → $150 |
| 2026-09-25 | UBS | Target raised | Neutral | $143 → $148 |
| 2026-09-25 | Piper Sandler | Target raised | Overweight | $125 → $158 |
| 2026-09-25 | DA Davidson | Maintained | Buy | $185 |
| 2026-09-25 | TD Cowen | Target raised | Hold | $140 → $149 |
| 2026-09-25 | JP Morgan | Target raised | Neutral | $158 → $167 |
| 2026-09-25 | RBC Capital | Reiterated | Sector Perform | $135 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +22.1% | -15.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +22.2% | -3.3% |
| Volatility (annualized) | 61.0% | 40.9% |
| Max drawdown | -45.9% (May 2026→Oct 2026) | -45.0% (Feb 2024→Aug 2025) |

## Peers (Software - Infrastructure)
GDDY (GoDaddy Inc.) USD 114.73 +6.02% · GEN (Gen Digital Inc.) USD 24.89 +3.19% · SAIL (SailPoint, Inc.) USD 20.06 +1.93% · CHKP (Check Point Software Technologi) USD 151.98 +5.96% · DOCN (DigitalOcean Holdings, Inc.) USD 92 -9.34% · PAYP (PayPay Corporation - American D) USD 15.21 -0.91%

## More
Full page: https://nexqual.com/AKAM · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in AKAM's own 10-K filed 2026-02-20 (https://www.sec.gov/Archives/edgar/data/1086222/000108622226000022/akam-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Lumen Technologies, Inc. (LUMN) | "We acquired certain customer contracts from Lumen Technologies, Inc. ("Lumen") in October 2023 and from StackPath, LLC ("StackPath") in August 2023." |
| Customer | Adobe (ADBE) | "Our customers include many of the world's leading corporations, such as adidas, Adobe, Aflac, Airbnb, Asus, Autodesk, Bank of Montreal, Carnival Corporation, Comcast, Commerzbank, Daiwa Institute of Research, eBay, Elect…" |
| Customer | Airbnb (ABNB) | "Our customers include many of the world's leading corporations, such as adidas, Adobe, Aflac, Airbnb, Asus, Autodesk, Bank of Montreal, Carnival Corporation, Comcast, Commerzbank, Daiwa Institute of Research, eBay, Elect…" |
| Customer | Carnival Corp Ltd. (CCL) | "Our customers include many of the world's leading corporations, such as adidas, Adobe, Aflac, Airbnb, Asus, Autodesk, Bank of Montreal, Carnival Corporation, Comcast, Commerzbank, Daiwa Institute of Research, eBay, Elect…" |
| Customer | Comcast (CMCSA) | "Our customers include many of the world's leading corporations, such as adidas, Adobe, Aflac, Airbnb, Asus, Autodesk, Bank of Montreal, Carnival Corporation, Comcast, Commerzbank, Daiwa Institute of Research, eBay, Elect…" |
| Customer | Honda (HMC) | "Our customers include many of the world's leading corporations, such as adidas, Adobe, Aflac, Airbnb, Asus, Autodesk, Bank of Montreal, Carnival Corporation, Comcast, Commerzbank, Daiwa Institute of Research, eBay, Elect…" |
| Customer | Panasonic | "Our customers include many of the world's leading corporations, such as adidas, Adobe, Aflac, Airbnb, Asus, Autodesk, Bank of Montreal, Carnival Corporation, Comcast, Commerzbank, Daiwa Institute of Research, eBay, Elect…" |
| Customer | Sony (SONY) | "Our customers include many of the world's leading corporations, such as adidas, Adobe, Aflac, Airbnb, Asus, Autodesk, Bank of Montreal, Carnival Corporation, Comcast, Commerzbank, Daiwa Institute of Research, eBay, Elect…" |
| Customer | Spotify (SPOT) | "Our customers include many of the world's leading corporations, such as adidas, Adobe, Aflac, Airbnb, Asus, Autodesk, Bank of Montreal, Carnival Corporation, Comcast, Commerzbank, Daiwa Institute of Research, eBay, Elect…" |
| Partner | Microsoft (MSFT) | "We market and sell our solutions globally through our field sales and services organization and through many channel partners, including adidas, AHEAD, Avant, BV Tech, Carahsoft, CPD, Deloitte, Deutsche Telecom, Doyen, G…" |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| U.S. | $550.4M | 50.1% | +4.3% |
| International | $549.3M | 49.9% | +6.5% |
| Total revenue | $1.10B | 100% | — |

## Company outlook (8-K filed 2026-08-06)

- "Material changes to any one of the exclusions could have a significant effect on our guidance and future GAAP results. * See Use of Non-GAAP Financial Measures below for definitions 2 Quarterly Conference Call Akamai will host a conference call today at 4:30 p.m."
- "Akamai excludes these items from its non-GAAP financial measures when evaluating its continuing business performance as such items vary significantly based on the magnitude of the restructuring action and do not reflect expected future operating expenses."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.67 | $1.70 | -1.7% | $1.12B | 21 |
| Next quarter (ends 2026-12-31) | $1.78 | $1.81 | -1.7% | $1.20B | 21 |
| Current fiscal year (ends 2026-12-31) | $6.64 | $6.72 | -1.1% | $4.49B | 24 |
| Next fiscal year (ends 2027-12-31) | $6.84 | $7.23 | -5.5% | $5.22B | 24 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-06 (includes earnings 2026-11-05): ±15.2%; earnings reaction alone ±9.9%; last 8 reports averaged ±13.8%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 66.5% | ±7.9% |
| 2026-11-06 | 14 | 89.5% | ±15.2% |
| 2026-11-13 | 21 | 82.1% | ±16.0% |
| 2026-11-20 | 28 | 76.4% | ±17.1% |
| 2026-11-27 | 35 | 71.3% | ±17.8% |
| 2026-12-04 | 42 | 68.8% | ±18.7% |
| 2026-12-18 | 56 | 66.1% | ±20.7% |
| 2027-01-15 | 84 | 61.9% | ±23.6% |