Akamai Technologies (AKAM) has recently seen mixed trends in its market activity. Demonstrating noteworthy competitive performance on some occasions, AKAM has suffered losses on other days. Prominent institutional investors like Massmutual Trust and Vanguard Group Inc. have reduced their AKAM positions, while others like Banque Cantonale Vaudoise, Alaska Permanent Fund Corp, and Wahed Invest have expanded theirs. Despite surpassing its Q3 earnings and revenue estimates, AKAM’s stock has been influenced by slowing traffic growth that adversely impacted its guidance. Its high P/E ratio, often seen as a negative, is not necessarily bad for AKAM. The company launched a new Page Integrity Manager Solution, and insider Robert Blumofe sold 3,000 AKAM shares. Concerns over its returns on capital have been raised, and its stock fell more than the broader market. Its intrinsic value is revealed to be around 70% above its share price, with its short interest declining by 5.6%. Insider sales were also undertaken by Anthony Williams and Edward McGowan. AKAM’s partnership with EZDRM aims to expand its computing program, and its new zero-trust platform boosts security. While it confirmed the intent to acquire API security company Noname and was added to the S&P 500, AKAM's stock consistently underperformed against its competitors.
Akamai Technologies AKAM News Analytics from Wed, 08 Nov 2023 08:00:00 GMT to Sun, 23 Jun 2024 10:19:22 GMT -
Rating 0
- Innovation 5
- Information 7
- Rumor -4
