Discover Why Akamai Technologies, Inc. (AKAM) Stock Posted Gains Todays

Akamai Technologies

Akamai Technologies, Inc. (AKAM), a Software—Infrastructure organization, was a gaining stock in the stock market session. Akamai Technologies, Inc. (AKAM) shares started the day for trading at $101.52 and closed the day at $101.15 with positive move of +0.55%. This increase change lagged the Nasdaq, a tech-heavy index, gain of +1.58% for the stock market session.

Akamai Technologies, Inc. (AKAM) is focused on the Software—Infrastructure sector. This sector has seen some movement from day traders in recent trading sessions. Bullish day traders of Akamai Technologies, Inc. (AKAM) will be looking for positive upcoming earnings whereas bearish day traders of Akamai Technologies, Inc. (AKAM) will be looking for negative earnings. The last time Akamai Technologies, Inc. (AKAM) had an earnings surprise was on Qtr Ending 03/20 when they reported $0.92 compared to an estimate of $0.91 which was a difference of $+0.01 resulting in a change of +1.10%. Current earnings estimates are to be released for Current Qtr 06/2020 on Akamai Technologies, Inc. (AKAM) and out of 9 Wall Street estimates the average is saying $0.96. The high estimate is saying $1.02 whereas the low estimate is saying $0.94 and the prior year Akamai Technologies, Inc. (AKAM) announced earnings at $0.80 a growth rate est. (year over year) of +20.00%.

The market performance of Akamai Technologies, Inc. (AKAM) has varied recently. Year to date Akamai Technologies, Inc. (AKAM)’s shares are up 17.10%. Over the past 12 weeks Akamai Technologies, Inc. (AKAM) is up 1.56% and over the last 4 weeks Akamai Technologies, Inc. (AKAM) is up 6.04%. Akamai Technologies, Inc. (AKAM) current income statement shows revenue (ttm) of $2.95B. Gross Profit is $1.91B. This puts the current EBITDA of Akamai Technologies, Inc. (AKAM) at $871.97M.

Wall street day traders might also notice recent changes to stock analyst estimates for Akamai Technologies, Inc. (AKAM). The stock is trading with an RSI (relative strength index) of 55.78 indicating Akamai Technologies, Inc. (AKAM) is neither overbought nor oversold. Technically, AKAM’s short term support levels are around $1367.66, $1334.96 and $1286.57 on the downside. AKAMs short term resistance levels are $1526.69, $1493.59 and $1432.99 on the upside. The market cap of Akamai Technologies, Inc. (AKAM) is $16.386B and institutions hold 92.94% of the stock. The outstanding share count stands at 161.60M while the short float (shares short) stands at 3.63%.

Market research indicates that these earning estimate changes look to be directly correlated with short-term shares prices. The day traders can look to capitalize on the basis of ranking. Based on technical analysis, AKAM has short term rating of Bullish (0.26), Intermediate rating of Very Bullish (0.62) and the long-term rating of Very Bullish (0.50) giving it an overall rating of Bullish (0.46).

The EPS growth this year on Akamai Technologies, Inc. (AKAM) is increased 63.00% and is expected to increase 8.58% next year. However, quarterly earnings (EPS) growth year over year on Akamai Technologies, Inc. (AKAM) has increased by 23.10% and quarterly revenue (Sales) growth year over year stands at 8.20%. Gross margin is detected at 65.60% that represents the percent of total sales revenue that the company retains after direct cost of goods sold. Net profit margin (ttm) is 15.30% while return on equity (ttm) is 13.10%.

Recent Developments:

2020-04-28 – Akamai Reports First Quarter 2020 Financial Results.
2020-04-06 – Verimatrix Partners With Akamai Intelligent Edge Platform.
2020-02-27 – Akamai Technologies Acquires Customers And Select Intellectual Property From Instart.
2020-02-11 – Akamai Technologies Qtrly EPS $0.73.
2019-11-04 – Akamai Technologies, Inc. (NasdaqGS:AKAM) completed the acquisition of Exceda Ltda..

About Company:

Headquartered in Cambridge, MA, Akamai Technologies Inc. is a global provider of content delivery network (CDN) and cloud infrastructure services. The company’s solutions accelerate and improve the delivery of content over the Internet, enabling faster response to requests for web pages, streaming of video & audio, business applications, etc.