Akamai Technologies Inc. ($AKAM) Stock Forecast: Up 10.5% Today

What is Akamai Technologies Inc.?

Akamai Technologies, a leading cloud services provider, offers security and content delivery solutions globally. The overall market showed little change after a volatile week.

Why is Akamai Technologies Inc. going up?

AKAM stock is up 10.5% on Aug 9, 2024 17:56

• Akamai Technologies surpassed expectations in its second-quarter financial results, leading to a surge in its stock price.
• Strong demand for Akamai's security and cloud computing products contributed to the company exceeding profit and sales estimates.
• Analysts showed optimism about Akamai post strong Q2 results, with upgrades and positive outlooks driving the stock price up.
• Akamai's stock saw a bullish movement due to organic growth acceleration and positive sentiment from analysts and investors after Q2 earnings.

AKAM Price Chart

AKAM News

Expedia Posts Upbeat Earnings, Joins Akamai Technologies, Trade Desk, DXC Technology And Other Big Stocks Moving Higher On Friday - Expedia Group ( NASDAQ:EXPE )

U.S. stocks were mixed, with the Dow Jones index gaining around 0.1% on Friday. Shares of Expedia Group, Inc. EXPE rose sharply during Friday's session after the company reported better-than-expected second-quarter financial results.

https://www.benzinga.com/news/24/08/40290461/expedia-posts-upbeat-earnings-joins-akamai-technologies-trade-desk-dxc-technology-and-other-big-stoc

Top Stock Movers Now: Sweetgreen, Intel, Akamai Technologies, and More

The Dow, S&P 500, and Nasdaq were little changed at midday Friday, heading to the close of a volatile week for markets that began with a global sell-off.

https://www.investopedia.com/top-stock-movers-now-sweetgreen-intel-akamai-technologies-and-more-8693211

Akamai Technologies Gets Boost From Security and Cloud Demand

Akamai Technologies beat second-quarter profit and sales estimates on strong demand for its security and cloud computing products.

https://www.investopedia.com/akamai-technologies-gets-boost-from-security-and-cloud-demand-8693180

Akamai surges after analysts remain largely positive following strong Q2 results

No summary available.

https://seekingalpha.com/news/4138123-akamai-surges-after-analysts-remain-largely-positive-following-strong-q2-results?feed_item_type=news

Akamai rises after Q2 beat, Craig-Hallum upgrades on organic growth acceleration in 2025

Akamai''s stock jumped about 7% premarket on Friday after Q2 results and outlook exceeded expectations and Craig-Hallum upgraded the stock to Buy.

https://seekingalpha.com/news/4138028-akamai-rises-after-q2-beat-craig-hallum-upgrades-on-organic-growth-acceleration-in-2025?feed_item_type=news

Trending Today

Novo Nordisk A/S ($NVO) Stock Forecast: Down 5.1% Today

Lennar Corporation Class A ($LEN) Stock Forecast: Down 5.2% Today

Bittensor ($TAO) Crypto Forecast: Up 9.4% Today

Aptos ($APT) Crypto Forecast: Up 6.6% Today

Sui ($SUI) Crypto Forecast: Up 11.4% Today

Intel Corporation ($INTC) Stock Forecast: Up 5.6% Today

Bumble Inc. ($BMBL) Stock Forecast: Down 5.4% Today

Fetch.ai ($FET) Crypto Forecast: Up 5.1% Today

FedEx Corporation ($FDX) Stock Forecast: Down 14.5% Today

Nike Inc. ($NKE) Stock Forecast: Up 6.2% Today

Akamai Technologies Inc. Price History

10.04.2024 - AKAM Stock was down 7.7%

• Akamai Technologies reported strong earnings for the first quarter but provided a less optimistic outlook, leading to a negative market response.
• Analysts adjusted their projections for Akamai Technologies downwards following the subdued guidance, impacting market sentiment.
• B of A Securities decreased the price target for Akamai Technologies from $145 to $125, suggesting a lack of confidence in the company's future.
• The downward revisions in forecasts, cautious guidance, and a lowered price target likely prompted investors to sell off AKAM shares, driving the bearish trend witnessed today.

14.01.2024 - AKAM Stock was down 8.0%

• The company recently launched a new product called Gecko, which aims to compete with major players in the edge computing market. This could potentially impact AKAM's market position and lead to the bearish movement observed.
• Despite surpassing profit expectations, AKAM's fourth quarter results fell short in terms of revenue, potentially contributing to the bearish sentiment.
• Concerns were raised when the company announced the integration of cloud computing capabilities into its edge network. This raised doubts about AKAM's ability to effectively compete in the rapidly evolving cloud computing market, which may have influenced the bearish sentiment.

14.01.2024 - AKAM Stock was down 7.5%

• The bearish movement in AKAM stock today could be attributed to the following factors:
• 1. Disappointing fourth-quarter earnings: Akamai's earnings missing the mark could have led to a negative sentiment among investors, causing the stock to decline.
• 2. Lower trading due to negative sentiments: Reports mentioning that AKAM stock is trading lower today could have influenced investors to sell their shares, contributing to the bearish movement.
• 3. Competitive challenges: Akamai's introduction of Gecko, an initiative to challenge cloud giants in the edge computing market, might have raised concerns about increased competition, leading to a decline in the stock price.
• Overall, the combination of disappointing earnings, negative sentiments, and concerns about competition could have caused the bearish movement in AKAM stock today.

10.04.2024 - AKAM Stock was down 11.2%

• Akamai's stock experienced a strong bearish movement today, dropping by 11.2%.
• The decline was triggered by the company's first-quarter earnings report, where although the EPS beat expectations, the full-year revenue guidance fell short of analysts' forecasts.
• Despite announcing a new share repurchase program, investors seemed concerned about the company's future revenue prospects.
• The market reaction highlights the importance of not just meeting, but exceeding, revenue expectations in today's competitive landscape.

14.01.2024 - AKAM Stock was down 6.0%

• The company's Q4 earnings surpassed profit expectations but fell short on revenue, indicating a mixed performance.
• Despite meeting the sales estimates, the stock experienced a decline, suggesting potential disappointment among investors regarding other aspects of the earnings report.
• The CEO specifically highlighted cloud computing as the company's strongest area of growth, signaling a positive outlook for this segment.
• The market reacted bearishly, possibly due to concerns or uncertainties related to the company's strategy of integrating cloud computing capabilities into its edge network.

14.01.2024 - AKAM Stock was down 10.3%

• The bearish movement in AKAM's stock today can be attributed to a combination of factors:
• 1. Disappointing Q4 Sales: Despite posting sales in line with estimates, the market may have been expecting stronger revenue growth. This could have led to some profit-taking by investors, resulting in the bearish movement.
• 2. Earnings Beat, but Uncertainty Ahead: While AKAM's Q4 earnings surpassed estimates, the market may have reacted cautiously due to concerns about future growth. Investors might be questioning whether the company can sustain its performance and navigate potential challenges in the competitive cloud services industry.
• 3. Lack of Clarity from Earnings Call: The absence of a summary for the Q4 earnings call suggests that there may have been no significant announcements or updates that could have positively influenced investor sentiment. This lack of clarity could have contributed to the bearish movement.
• 4. Broader Market Volatility: It's important to consider that AKAM's stock movement could also be influenced by broader market conditions and investor sentiment. If there is overall market volatility or negative sentiment, it can impact the stock's performance regardless of the company's specific news or financials.

14.01.2024 - AKAM Stock was down 10.3%

• The recent bearish movement in AKAM stock can be attributed to the following factors:
• 1. Earnings Surprise: AKAM exceeded earnings estimates for the fourth quarter, but fell slightly short of revenue expectations. This mixed performance may have disappointed investors, leading to a sell-off.
• 2. Sales Guidance: AKAM's revenue guidance for the full year 2024 was below expectations. This lower-than-anticipated outlook could have raised concerns about the company's future growth prospects, prompting investors to sell their positions.
• 3. Market Reaction: Following AKAM's earnings report, the stock experienced a negative market reaction and declined. This suggests that investors were not entirely satisfied with the company's financial performance and outlook.
• 4. Overall Market Sentiment: It's important to consider broader market sentiment, as negative market conditions or factors specific to the sector could have influenced AKAM's bearish movement. However, without additional information, it is challenging to determine the exact impact of external factors on the stock's performance.

10.04.2024 - AKAM Stock was down 9.8%

• The decline in AKAM stock may be linked to analysts revising their forecasts following the company's loss in the first quarter, which fell short of market expectations for earnings per share and sales.
• Despite reporting increased sales and profit in Q1 2024, concerns raised by analysts regarding the company's performance may have impacted the stock.
• Comments from Jim Cramer, a prominent figure in the investing realm, about Akamai's undisclosed asset, not necessarily related to content delivery, could have introduced uncertainty or speculation among investors.
• Broader market sentiment and external factors may have also influenced the bearish trend in AKAM stock today.

10.04.2024 - AKAM Stock was down 7.6%

• Akamai Technologies stock dropped significantly due to slowing traffic growth and weak delivery revenues, impacting the company's guidance for the future.
• The company issued a weak outlook for FY24, with adjusted EPS and revenue projections below market expectations, leading to a sharp decline in the stock price.
• Analysts at B of A Securities also cut Akamai's price target, adding to the negative sentiment surrounding the stock.
• The combination of disappointing guidance, slowing traffic growth, and reduced price targets contributed to the bearish movement in Akamai's stock today.

09.07.2024 - AKAM Stock was up 10.5%

• Akamai Technologies surpassed expectations in its second-quarter financial results, leading to a surge in its stock price.
• Strong demand for Akamai's security and cloud computing products contributed to the company exceeding profit and sales estimates.
• Analysts showed optimism about Akamai post strong Q2 results, with upgrades and positive outlooks driving the stock price up.
• Akamai's stock saw a bullish movement due to organic growth acceleration and positive sentiment from analysts and investors after Q2 earnings.

09.07.2024 - AKAM Stock was up 10.1%

• Akamai's stock surged after analysts remained positive following strong Q2 results, with the company beating earnings per share and revenue estimates for the quarter.
• Upgrading the stock to Buy and highlighting organic growth acceleration in 2025 contributed to the bullish movement.
• CEO Tom Leighton's discussion on the company's earnings beat, growth outlook, and AI adoption also likely boosted investor confidence in Akamai's future prospects.
• The overall positive sentiment surrounding Akamai's performance and outlook drove the stock higher as investors reacted favorably to the news.

09.07.2024 - AKAM Stock was up 8.9%

• Akamai reported impressive Q2 2024 earnings, beating both EPS and revenue estimates, showcasing strong financial performance.
• The positive earnings results and growth outlook shared by CEO likely contributed to investor confidence and drove the bullish movement in the stock.
• The market sentiment towards tech stocks, as indicated by the focus on valuations and discounted opportunities in the tech sector, might have also played a role in boosting Akamai's stock price.