Akamai Technologies, Inc.’s Stock Price Soars to $97.93, Marking a Robust 4.16% Increase

Akamai Technologies, Inc. (AKAM)

97.93 USD +3.91 (+4.16%) Volume: 3.12M

Akamai Technologies, Inc.’s stock price is currently performing at 97.93 USD, with a positive trading session shift of +4.16%, and a trading volume of 3.12M. Despite the significant increase today, the year-to-date percentage change remains at -17.25%, reflecting the volatile nature of AKAM’s stock price performance.

Latest developments on Akamai Technologies, Inc.

Akamai Technologies stock has been making moves recently, with analysts giving it an average recommendation of “Moderate Buy.” Following an upgrade by Oppenheimer, Fastly also saw a jump in their stock price, with Akamai following suit after the Edgio auction. Despite underperforming the market on Friday, Akamai’s stock rose as Oppenheimer upgraded it, citing increased demand for AI which is expected to boost their edge and cloud platforms.

Akamai Technologies, Inc. on Smartkarma

Analysts at Baptista Research have been closely covering Akamai Technologies on Smartkarma, an independent investment research network. In their report titled “Akamai Technologies: Cloud Computing Expansion As A Primary Growth Accelerator! – Major Drivers”, the analysts highlight the company’s third-quarter financial results for 2024. Akamai Technologies achieved a significant milestone with total revenue surpassing $1 billion for the first time, marking a 4% increase year-over-year. The company’s total annual revenue run rate exceeded $4 billion, with security revenue crossing $2 billion.

In another report by Baptista Research titled “Akamai Technologies: Will The Acquisition of API Security Leader Noname Security Be A Game Changer? – Major Drivers”, the analysts delve into the company’s second-quarter earnings presentation for 2024. Despite ongoing macroeconomic and geopolitical challenges, Akamai Technologies reported a 5% increase in total revenue year-over-year, amounting to $980 million. The report evaluates various factors that could impact the company’s stock price in the near future and conducts an independent valuation using a Discounted Cash Flow (DCF) methodology.

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 shows a promising outlook for value, growth, and momentum. With a high score in value, the company is seen as a good investment opportunity. Additionally, a decent score in growth indicates potential for expansion and development in the future. The momentum score suggests that the company is gaining traction and moving in a positive direction.

However, Akamai Technologies has lower scores in dividend and resilience. The low dividend score may not attract income-seeking investors, while the resilience score indicates that the company may face challenges in adapting to unforeseen circumstances. Overall, with a mix of high and low scores, Akamai Technologies presents a varied long-term outlook that investors should carefully consider before making any decisions.

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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