Akamai Technologies, Inc.’s Stock Price Dips to $93.56, Marking a 1.95% Decrease: Is Now the Time to Buy?

Akamai Technologies, Inc. (AKAM)

93.56 USD -1.86 (-1.95%) Volume: 2.32M

Akamai Technologies, Inc.’s stock price stands at 93.56 USD, experiencing a drop of 1.95% in the current trading session with a trading volume of 2.32M. Despite this, the tech giant’s year-to-date performance shows only a slight decrease of 2.19%, indicating a resilient market position.

Latest developments on Akamai Technologies, Inc.

Akamai Technologies Inc. experienced a strong trading day, outperforming its competitors as its stock price surged. The company also made headlines recently by announcing its decision to end Content Delivery Network (CDN) services in China. This move is part of Akamai’s efforts to strengthen its cybersecurity portfolio through mergers and acquisitions, further solidifying its position in the tech industry.

Akamai Technologies, Inc. on Smartkarma

Analysts at Baptista Research have provided bullish coverage on Akamai Technologies, highlighting the company’s strong financial performance and strategic acquisitions. In their research report titled “Akamai Technologies: Cloud Computing Expansion As A Primary Growth Accelerator! – Major Drivers,” they noted that the company’s total revenue for the third quarter of 2024 exceeded $1 billion for the first time, with a 4% year-over-year increase. Additionally, Akamai’s annual revenue run rate surpassed $4 billion, with security revenue crossing $2 billion. This positive outlook suggests optimism for Akamai’s growth trajectory.

In another report by Baptista Research titled “Akamai Technologies: Will The Acquisition of API Security Leader Noname Security Be A Game Changer? – Major Drivers,” analysts discussed the company’s second quarter earnings presentation and the acquisition of Noname Security. Despite industry challenges, Akamai reported a 5% increase in total revenue year over year, reaching $980 million, driven by growth in security and compute sectors. The analysts aim to evaluate the impact of this acquisition on Akamai’s future stock price and conduct an independent valuation using a Discounted Cash Flow methodology, indicating a positive sentiment towards the company’s strategic moves.

A look at Akamai Technologies, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, Akamai Technologies has a positive long-term outlook. With high scores in value and growth, the company is positioned well for future success. While the dividend and resilience scores are lower, the momentum score is moderate, indicating potential for continued growth and development.

Akamai Technologies, Inc. is a company that specializes in enhancing internet content and application delivery. From streaming video services to online business tools, Akamai helps businesses reach their customers more effectively. With a solid overall outlook according to the Smartkarma Smart Scores, Akamai Technologies is poised to continue its success in the digital market.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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