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Akamai Technologies (AKAM) Gains As Market Dips: What You Should Know
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The latest trading session saw Akamai Technologies (AKAM - Free Report) ending at $96.37, denoting a +1.21% adjustment from its last day's close. This change outpaced the S&P 500's 0.51% loss on the day. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw a decrease of 0.93%.
The cloud services provider's stock has climbed by 7.68% in the past month, exceeding the Computer and Technology sector's loss of 2.41% and the S&P 500's loss of 0.26%.
The investment community will be closely monitoring the performance of Akamai Technologies in its forthcoming earnings report. The company is scheduled to release its earnings on August 8, 2024. The company's earnings per share (EPS) are projected to be $1.54, reflecting a 3.36% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $976.44 million, indicating a 4.35% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.30 per share and a revenue of $3.99 billion, signifying shifts of +1.61% and +4.67%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Akamai Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Akamai Technologies is holding a Zacks Rank of #4 (Sell) right now.
With respect to valuation, Akamai Technologies is currently being traded at a Forward P/E ratio of 15.11. This represents a discount compared to its industry's average Forward P/E of 22.55.
It is also worth noting that AKAM currently has a PEG ratio of 3.17. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Internet - Services stocks are, on average, holding a PEG ratio of 2.12 based on yesterday's closing prices.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 157, finds itself in the bottom 38% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Akamai Technologies (AKAM) Gains As Market Dips: What You Should Know
The latest trading session saw Akamai Technologies (AKAM - Free Report) ending at $96.37, denoting a +1.21% adjustment from its last day's close. This change outpaced the S&P 500's 0.51% loss on the day. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw a decrease of 0.93%.
The cloud services provider's stock has climbed by 7.68% in the past month, exceeding the Computer and Technology sector's loss of 2.41% and the S&P 500's loss of 0.26%.
The investment community will be closely monitoring the performance of Akamai Technologies in its forthcoming earnings report. The company is scheduled to release its earnings on August 8, 2024. The company's earnings per share (EPS) are projected to be $1.54, reflecting a 3.36% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $976.44 million, indicating a 4.35% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.30 per share and a revenue of $3.99 billion, signifying shifts of +1.61% and +4.67%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Akamai Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Akamai Technologies is holding a Zacks Rank of #4 (Sell) right now.
With respect to valuation, Akamai Technologies is currently being traded at a Forward P/E ratio of 15.11. This represents a discount compared to its industry's average Forward P/E of 22.55.
It is also worth noting that AKAM currently has a PEG ratio of 3.17. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Internet - Services stocks are, on average, holding a PEG ratio of 2.12 based on yesterday's closing prices.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 157, finds itself in the bottom 38% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.