Akamai Technologies, Inc.’s Stock Price Soars to $94.32, Showing a Robust Increase by 3.43%

Akamai Technologies, Inc. (AKAM)

94.32 USD +3.13 (+3.43%) Volume: 3.46M

Akamai Technologies, Inc.’s stock price is currently standing at 94.32 USD, witnessing a positive surge of +3.43% in this trading session with a trading volume of 3.46M, though the stock has faced a year-to-date percentage decline of -20.30%.

Latest developments on Akamai Technologies, Inc.

Akamai Technologies (NASDAQ:AKAM) stock price has seen noticeable movements recently, following a series of significant events. The company beat analyst forecasts with its first quarter 2024 earnings, resulting in updates to their models. However, despite the market gains, Akamai’s stock price has sunk, prompting KeyBanc and Craig Hallum to lower their price target to $119.00 and $110.00 respectively. Adding to the turmoil, Akamai issued a weak outlook, joining a list of big stocks moving lower. This has led to suggestions that Akamai should merge with Cloudflare to boost its value.

Akamai Technologies, Inc. on Smartkarma

Analysts at Baptista Research have been bullish on Akamai Technologies, Inc., highlighting the company’s strong potential in AI inferencing services to catalyze revenue growth. In a recent report, Akamai reported robust Q4 2023 results, with revenue reaching an impressive $995 million and a non-GAAP operating margin of 30%. Year-over-year non-GAAP earnings per share also showed a significant increase, demonstrating the company’s steady progress.

Furthermore, Baptista Research emphasized Akamai Technologies Inc.’s success in paving the way for a safer online environment. The company exceeded analyst expectations with a revenue surge to $965 million, marking a substantial 9% year-over-year growth. The non-GAAP operating margin stood impressively at 31%, while non-GAAP earnings per share reached $1.63, reflecting a remarkable 29% year-over-year increase. Akamai’s security segment also experienced a notable 20% year-over-year growth in Q3, showcasing its strong performance in the cybersecurity space.

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 in terms of value, growth, and momentum. With a high score in value, the company is seen as having strong fundamentals and potential for growth. Additionally, the growth score indicates that Akamai Technologies is expected to continue expanding its business in the future. The momentum score also suggests that the company is on a positive trajectory, which bodes well for its future performance.

However, Akamai Technologies scored lower in resilience and dividend factors. This may indicate some potential risks or challenges that the company could face in the long term. Investors should consider these factors along with the positive aspects of the company when making investment decisions. Overall, Akamai Technologies‘ diverse range of services for content delivery and applications positions it well for future success in the ever-evolving digital landscape.

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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