Akamai Technologies (AKAM) closed the most recent trading day at $101.48, moving +1.03% from the previous trading session. This change outpaced the S&P 500's 0.9% gain on the day. Meanwhile, the Dow gained 0.81%, and the Nasdaq, a tech-heavy index, added 1.22%.

The cloud services provider's stock has climbed by 1.34% in the past month, falling short of the Computer and Technology sector's gain of 5.76% and the S&P 500's gain of 3.15%.

Market participants will be closely following the financial results of Akamai Technologies in its upcoming release. The company plans to announce its earnings on November 7, 2024. The company's upcoming EPS is projected at $1.59, signifying a 2.45% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1 billion, indicating a 3.62% upward movement from the same quarter last year.

AKAM's full-year Zacks Consensus Estimates are calling for earnings of $6.43 per share and revenue of $4 billion. These results would represent year-over-year changes of +3.71% and +4.84%, respectively.

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, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Akamai Technologies currently has a Zacks Rank of #3 (Hold).

In terms of valuation, Akamai Technologies is currently trading at a Forward P/E ratio of 15.63. This denotes a discount relative to the industry's average Forward P/E of 28.54.

Also, we should mention that AKAM has a PEG ratio of 2.21. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Services was holding an average PEG ratio of 1.88 at yesterday's closing price.

The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 97, placing it within the top 39% of over 250 industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.

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