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Akamai Technologies (AKAM) Outpaces Stock Market Gains: What You Should Know
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In the latest market close, Akamai Technologies (AKAM - Free Report) reached $104.22, with a +0.77% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.61%. Elsewhere, the Dow saw an upswing of 0.97%, while the tech-heavy Nasdaq appreciated by 0.33%.
Shares of the cloud services provider witnessed a gain of 6.29% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 8.6% and outperforming the S&P 500's gain of 5.36%.
Analysts and investors alike will be keeping a close eye on the performance of Akamai Technologies in its upcoming earnings disclosure. The company's earnings report is set to go public on November 7, 2024. On that day, Akamai Technologies is projected to report earnings of $1.59 per share, which would represent a year-over-year decline of 2.45%. Our most recent consensus estimate is calling for quarterly revenue of $1 billion, up 3.62% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.43 per share and a revenue of $4 billion, signifying shifts of +3.71% and +4.84%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Akamai Technologies. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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 presently features a Zacks Rank of #2 (Buy).
Looking at valuation, Akamai Technologies is presently trading at a Forward P/E ratio of 16.09. This denotes a discount relative to the industry's average Forward P/E of 36.6.
Also, we should mention that AKAM has a PEG ratio of 2.28. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 2.28.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 90, finds itself in the top 36% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Outpaces Stock Market Gains: What You Should Know
In the latest market close, Akamai Technologies (AKAM - Free Report) reached $104.22, with a +0.77% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.61%. Elsewhere, the Dow saw an upswing of 0.97%, while the tech-heavy Nasdaq appreciated by 0.33%.
Shares of the cloud services provider witnessed a gain of 6.29% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 8.6% and outperforming the S&P 500's gain of 5.36%.
Analysts and investors alike will be keeping a close eye on the performance of Akamai Technologies in its upcoming earnings disclosure. The company's earnings report is set to go public on November 7, 2024. On that day, Akamai Technologies is projected to report earnings of $1.59 per share, which would represent a year-over-year decline of 2.45%. Our most recent consensus estimate is calling for quarterly revenue of $1 billion, up 3.62% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.43 per share and a revenue of $4 billion, signifying shifts of +3.71% and +4.84%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Akamai Technologies. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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 presently features a Zacks Rank of #2 (Buy).
Looking at valuation, Akamai Technologies is presently trading at a Forward P/E ratio of 16.09. This denotes a discount relative to the industry's average Forward P/E of 36.6.
Also, we should mention that AKAM has a PEG ratio of 2.28. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 2.28.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 90, finds itself in the top 36% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.