Akamai Technologies (AKAM) Stock Slides as Market Rises: Facts to Know Before You Trade

The most recent trading session ended with Akamai Technologies (AKAM) standing at $93.56, reflecting a -1.95% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 1.26%. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 1.77%.The the stock of cloud services provider has fallen by 2.03% in the past month, lagging the Computer and Technology sector's gain of 0.84% and overreaching the S&P 500's loss of 2.82%.The investment community will be paying close attention to the earnings performance of Akamai Technologies in its upcoming release. The company is forecasted to report an EPS of $1.52, showcasing a 10.06% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $1.01 billion, up 2% from the year-ago period.Investors should also take note of any recent adjustments to analyst estimates for Akamai Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.45% higher. Akamai Technologies is currently a Zacks Rank #3 (Hold).In the context of valuation, Akamai Technologies is at present trading with a Forward P/E ratio of 14.09. For comparison, its industry has an average Forward P/E of 22.57, which means Akamai Technologies is trading at a discount to the group.Meanwhile, AKAM's PEG ratio is currently 2.31. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. AKAM's industry had an average PEG ratio of 1.45 as of yesterday's close.The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 38, positioning it in the top 16% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Akamai Technologies, Inc. (AKAM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks