|Bid||86.01 x 800|
|Ask||87.14 x 800|
|Day's Range||85.75 - 87.13|
|52 Week Range||57.18 - 90.76|
|Beta (3Y Monthly)||0.49|
|PE Ratio (TTM)||33.97|
|Earnings Date||Oct 28, 2019 - Nov 1, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||91.74|
Akamai (AKAM) has a strong balance sheet, which will help it in capitalizing on investment opportunities and pursuing strategic acquisitions, further improving growth prospects.
CAMBRIDGE, Mass., Aug. 13, 2019 /PRNewswire/ -- Akamai Technologies, Inc. (AKAM) ("Akamai"), the intelligent edge platform for securing and delivering digital experiences, today announced that it has priced its private offering of $1,000,000,000 in aggregate principal amount of its convertible senior notes due 2027. In addition, Akamai has granted the initial purchasers of the notes an option to purchase up to an additional $150,000,000 in aggregate principal amount of notes on the same terms and conditions. The notes will be senior unsecured obligations of Akamai and will mature on September 1, 2027, unless earlier repurchased or converted in accordance with their terms prior to such date.
As Akamai enters its third decade in business, the recent pivot to cybersecurity appears to be paying off, according to both company executives and industry analysts.
Akamai (AKAM) announces senior notes offering worth $1.15 billion, which is expected to provide financial flexibility and propel long-term growth.
CAMBRIDGE, Mass., Aug. 12, 2019 /PRNewswire/ -- Akamai Technologies, Inc. (AKAM) ("Akamai"), the intelligent edge platform for securing and delivering digital experiences, today announced that it proposes to offer, subject to market factors and other conditions, $1,000,000,000 in aggregate principal amount of convertible senior notes due 2027. The notes are to be offered and sold to "qualified institutional buyers" pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act").
Akamai Technologies (AKAM) -- which provides cloud services for delivering, optimizing and securing content and business applications over the Internet -- is a new buyback recommendation, notes David Fried, editor of The Buyback Letter.
As the amount of data being produced and processed is surging, so are the number of cyber attacks being reported. One of the largest and most compromising for customers was the attack on Equifax (EFX) that occurred in 2017. The company stated that hackers gained access to 143 million U.S. customers’ data which included driver’s licenses and Social Security numbers. Since then, the frequency of these attacks has skyrocketed, driving the rapid growth of the cybersecurity industry.The ETFMG Prime Cybersecurity ETF (HACK), the oldest cybersecurity EFT, is up 12% year-to-date. With IBM’s cyber analysis team reporting that malware attacks already increased 200% so far in 2019, the demand for cybersecurity solutions has never been higher. Here are the 3 cybersecurity stocks analysts say investors should watch as the industry booms. Palo Alto Networks, Inc. (PANW) Palo Alto Networks is one of the most well-known players in the cybersecurity space. The company offers clients a security platform that monitors traffic using cloud-based solutions and firewalls.According to PANW’s Q3 earnings release on May 29, its business looks solid. It reported Q3 gross margin was 76.5%, up 30 basis points from the year before. Lower capital expenditures are attributed to its $280 million in free cash flow, gaining 27% at a margin of 38.5%. The company isn’t stopping there, with it placing a consistent focus on expansion. On July 9, PANW announced that it acquired container security company, Twistlock, for $410 million. Earlier in June, Palo Alto Networks acquired PureSec for $47 million to gain access to its serverless security products. Its WildFire malware prevention service also received Federal Risk and Authorization Management Program (FedRAMP), Authority to Operate status from the U.S. Naval War College on July 24. This means that any Federal Agency can now utilize the service. Financial blogger, Luke Lango, argues that all of these factors lends itself to PANW stock trading higher in the long-run. “Going forward, Palo Alto Network reasonably projects as a 15%-plus revenue grower with favorable margin drivers. That should drive somewhere between 20% and 25% profit growth over the next few years, which puts 2025 earnings-per-share somewhere around $16. Based on a software average multiple of 25-times forward earnings, that implies a long-term price target for PANW stock of $400, substantially higher than today’s price tag,” he writes. Five-star analyst, Jonathan Ruykhaver, agrees that PANW offers plenty of upside. On July 11, he reiterated his Buy rating and $275 price target. The Robert W. Baird analyst believes share prices could soar by 28% over the next twelve months. He has a 67% success rating and gets an average return of 19% per rating. PANW has a ‘Strong Buy’ analyst consensus and a $263 average price target, suggesting 23% upside potential. Fortinet, Inc. (FTNT)Fortinet specializes in providing broad, integrated and automated cybersecurity solutions. Despite the growing number of competitors, the second cybersecurity stock on our list has managed to maintain a steady stream of growth. FTNT shares are up 17% year-to-date, with many analysts telling investors not to expect a slowdown anytime soon. On August 2, Merrill Lynch gave the stock a ratings boost as it expects the future to be bright. Analyst Tal Liani upgraded the rating to a Buy and set a $103 price target, suggesting FTNT could soar by as much as 26% in the next twelve months.The upgrade comes after the company not only posted an earnings beat and raised its full-year guidance, but also announced released new products. On August 1, FTNT reported revenue of $522 million, beating the $511 million consensus estimate.That same day, FTNT announced the release of three new high-performance FortiGate Next-Generation Firewalls (NGFWs) that include FortiGate 1100E, FortiGate 2200E and FortiGate 3300E. These new offerings were designed to help enterprises secure and accelerate the on-ramp to the cloud, or the cloud environments that enable data to be used efficiently. “Fortinet has successfully transitioned from an inconsistent niche security play to a major cybersecurity vendor. Give the projected ramp in cybersecurity spending expected in the years ahead and Fortinet’s potential to gain market share from its competitors thanks to several new products in the works that could serve as positive catalysts for the stock, even after its big post-earnings gain. In the longer term, 5G network security could serve as an additional catalyst as well,” analyst Daniel Ives said on August 2. The Wedbush analyst reiterated his Buy rating and raised his price target from $105 to $110, indicating 34% upside. FTNT has a ‘Moderate Buy’ analyst consensus and a $94 average price target, suggesting 15% upside potential. Akamai Technologies, Inc. (AKAM) Akamai differentiates itself by providing not only cloud-based solutions, but also solutions that enable the shift from linear content to internet content. The stock has gained 41% year-to-date, with the good news not stopping there.The company pleasantly surprised the Street when it reported a second quarter earnings beat on July 31. Revenue was up 6% from the prior-year quarter to $705 million, surpassing the $696 million consensus estimate. Non-GAAP second quarter EPS beat analysts’ estimates of $1.01 coming in at $1.07. This amounted to a 29% gain from the year-ago quarter. Not to mention management raised its full-year guidance with revenue expected to fall between $2.84 billion and $2.87 billion and earnings to be between $4.23 and $4.30 per share. This is up from the previous forecast of between $2.82 billion and $2.86 billion in revenue and earnings between $4.05 and $4.20 a share. The results were based on AKAM’s gains in its media content delivery segment and its cloud security products. Top analyst, Lee Krowl, said, “The gains were driven by strong performance by Security (even organically), along with upside from OTT in the Media segment. We underappreciated the contribution from the Security business which continues to ramp, driven by increasing product adoption by exiting customers (bundling), along with a full-quarter contribution from Identity Cloud (fka—Janrain).” On July 31, the B.Riley FBR analyst reiterated a Buy rating and $102 price target, suggesting 19% upside potential. On August 5, investors got yet another reason to be excited when AKAM launched Edge Cloud for Internet of Things (IoT) device security. The product uses Akamai’s edge platform to secure data delivery to connected devices and in-application messaging at scale. Analyst Shebly Seyrafi sees its updated guidance and new product offerings as supporting its long-term growth narrative. On August 5, the FBN Securities analyst reiterated his Buy rating and $100 price target, indicating 16% upside potential. The Street is cautiously optimistic on this cybersecurity stock. It has a ‘Moderate Buy’ analyst consensus and a $91 average price target, suggesting 5% upside.
Prevarication by Cloudflare shielded a toxic message board in the wake of two mass shootings in the US at the weekend. The start-up only pulled internet services to 8chan, an extremist forum allegedly used by one gunman, after widespread complaints. Cloudflare’s argument that stepping away might encourage lawlessness was weak and smacked of sophistry.
Tom Leighton the co-founder and CEO of Akamai Technologies (AKAM), talks to Yahoo Finance's On the Move about the increasing threat of cyber attacks.
Akamai (AKAM) Q2 results benefit from solid adoption of security products and solid growth in traffic in Media business and OTT video downloads. However, Akamai issued bleak Q3 guidance.
Dow Jones futures: Apple moved above a buy point on earnings, guidance beat. AMD, Paycom, Akamai and Zendesk were notable earnings movers too. Investors await Wednesday's Fed rate cut.
Cloud services provider Akamai Technologies was rising Wednesday after the company reported second-quarter results that beat estimates and it raised its full-year guidance. The Cambridge, Mass.-based company reported earnings of $113.9 million, or $1.07 a share, on revenue that rose 6.4% to $705.1 million. "Akamai delivered another quarter of strong results, with revenue and earnings exceeding our expectations.
Akamai Technologies (AKAM) delivered earnings and revenue surprises of 5.94% and 1.35%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Akamai Technologies Inc beat Wall Street's estimates for second-quarter results and raised full-year forecast on Tuesday, boosted by strong demand for its cloud security services and growth in its traditional business of speeding up media content delivery through the web. Chief Executive Officer Tom Leighton told Reuters he is optimistic that the content delivery network provider will have stronger growth in 2020 as some premium offers come online. The streaming market is set to become crowded as Apple Inc , AT&T's WarnerMedia and Comcast Corp plan to roll out new services.
Akamai Technologies reported earnings and revenue for the second quarter that topped analyst estimates. The earnings beat sent shares in the internet infrastructure provider up late Tuesday.
Chief Executive Officer Tom Leighton told Reuters he is optimistic that the content delivery network provider will have stronger growth in 2020 as some premium offers come online. The streaming market is set to become crowded as Apple Inc, AT&T's WarnerMedia and Comcast Corp plan to roll out new services. Walt Disney Co's streaming service Disney+, which it has priced below Netflix, is set to launch in November.
Second quarter revenue of $705 million , up 6% year-over-year and up 8% when adjusted for foreign exchange* Cloud Security Solutions revenue grew 32% year-over-year and 34% when adjusted for foreign exchange* ...
NEW YORK, NY / ACCESSWIRE / July, 30 2019 / Akamai Technologies, Inc. (NASDAQ: AKAM ) will be discussing their earnings results in their 2019 Second Quarter Earnings to be held on July, 30 2019 at 4:30 ...
Since Akamai Technologies, Inc. (NASDAQ:AKAM) released its earnings in March 2019, it seems that analyst forecasts are...
Akamai Technologies is holding near highs after a recent breakout. Katie Stockton of Fairlead Strategies says this is what's driving this software stock's uptrend.