Akamai Technologies saw mixed fortunes, with insider sales and its stock suffering larger drops than the general market. Despite the losses, AKAM outperformed competitors. The company made strategic moves by acquiring select assets of Edgio, expanding its cloud computing solutions through a partnership with Avesha and launching a game-changing cloud platform that drastically reduces app deployment time. Q3 earnings matched estimates, but a decline in stock price raised concerns. Nevertheless, AKAM was termed a 'Strong Buy' by HSBC and their joint collaboration with Kyndryl offers Zero Trust Segmentation services. However, a guidance cut led to a 7% drop in stock value post-market hours. Despite the recent market turbulence, the company has reported strong security and compute in Q2 and Q3 2024 earnings calls. They made a significant achievement by surpassing $1B quarterly revenue milestone, though investors are concerned over delivery headwinds and compute uncertainty.
Akamai Technologies AKAM News Analytics from Thu, 23 May 2024 07:00:00 GMT to Sun, 17 Nov 2024 01:21:05 GMT -
Rating -1
- Innovation 5
- Information 8
- Rumor 0
