Analysts on Wall Street project that Akamai Technologies (AKAM) will announce quarterly earnings of $1.75 per share in its forthcoming report, representing an increase of 5.4% year over year. Revenues are projected to reach $1.08 billion, increasing 5.6% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific Akamai Technologies metrics that are routinely monitored and predicted by Wall Street analysts.
According to the collective judgment of analysts, 'Revenue- Security' should come in at $589.58 million. The estimate indicates a year-over-year change of +10.3%.
The average prediction of analysts places 'Revenue- Compute' at $195.32 million. The estimate indicates a change of +16.6% from the prior-year quarter.
Analysts forecast 'Revenue- Delivery' to reach $292.42 million. The estimate suggests a change of -8% year over year.
View all Key Company Metrics for Akamai Technologies here>>>
Over the past month, Akamai Technologies shares have recorded returns of +14.3% versus the Zacks S&P 500 composite's -2% change. Based on its Zacks Rank #3 (Hold), AKAM will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Want 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 ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
