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Akamai Technologies (AKAM) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Akamai Technologies (AKAM - Free Report) closed at $105.73, marking a -0.03% move from the previous day. This move lagged the S&P 500's daily gain of 0.63%. At the same time, the Dow added 0.59%, and the tech-heavy Nasdaq gained 0.39%.
Heading into today, shares of the cloud services provider had gained 1.03% over the past month, outpacing the Computer and Technology sector's loss of 2.3% and the S&P 500's loss of 3.39% in that time.
Market participants will be closely following the financial results of Akamai Technologies in its upcoming release. The company's upcoming EPS is projected at $1.51, signifying a 19.84% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $944.57 million, up 7.11% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.94 per share and revenue of $3.78 billion, indicating changes of +10.61% and +4.57%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Akamai Technologies. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Akamai Technologies is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Akamai Technologies is at present trading with a Forward P/E ratio of 17.82. This expresses a discount compared to the average Forward P/E of 26.73 of its industry.
It's also important to note that AKAM currently trades at a PEG ratio of 1.83. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 1.83.
The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 61, placing it within the top 25% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Akamai Technologies (AKAM) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Akamai Technologies (AKAM - Free Report) closed at $105.73, marking a -0.03% move from the previous day. This move lagged the S&P 500's daily gain of 0.63%. At the same time, the Dow added 0.59%, and the tech-heavy Nasdaq gained 0.39%.
Heading into today, shares of the cloud services provider had gained 1.03% over the past month, outpacing the Computer and Technology sector's loss of 2.3% and the S&P 500's loss of 3.39% in that time.
Market participants will be closely following the financial results of Akamai Technologies in its upcoming release. The company's upcoming EPS is projected at $1.51, signifying a 19.84% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $944.57 million, up 7.11% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.94 per share and revenue of $3.78 billion, indicating changes of +10.61% and +4.57%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Akamai Technologies. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Akamai Technologies is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Akamai Technologies is at present trading with a Forward P/E ratio of 17.82. This expresses a discount compared to the average Forward P/E of 26.73 of its industry.
It's also important to note that AKAM currently trades at a PEG ratio of 1.83. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 1.83.
The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 61, placing it within the top 25% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.