Akamai Technologies Inc Stock Price, News & Analysis

Akamai Technologies (NASDAQ: AKAM) has been recognized as a Leader in The Forrester Wave™: Web Application Firewalls, Q3 2022 report, which evaluated 12 vendors based on 24 criteria. Forrester highlighted Akamai for its advanced detection capabilities, powered by machine learning, and praised customer feedback regarding its App & API Protector dashboards. The report noted a significant 300% increase in web application attack attempts in early 2022, emphasizing the need for robust security solutions. Akamai's App & API Protector integrates several security technologies into a user-friendly platform.

Semrush (NYSE: SEMR) announces the appointment of Bill Wagner as an independent non-executive director to its Board, bringing over 20 years of SaaS experience. Wagner's previous role as CEO of GoTo (LogMeIn) saw the company grow significantly, reaching over $1 billion in revenue. His insight into the SaaS sector is expected to enhance Semrush's leadership during its growth trajectory. Wagner's inclusion reflects Semrush's commitment to leadership strengthening as he prepares for the 2023 Annual Meeting of Stockholders.

Dynatrace (NYSE: DT) has appointed two new executives to its leadership team: Nicole Fitzpatrick as General Counsel and Sue Quackenbush as Chief People Officer. Fitzpatrick, with over 20 years of legal experience, will oversee global legal affairs and lead the ESG program. Quackenbush, with 25 years in human resources, will focus on talent strategies and enhancing workplace culture. CEO Rick McConnell emphasized their experience will strengthen Dynatrace's position to capitalize on market opportunities amidst growing demand for cloud observability and security.

Akamai Technologies reported second quarter revenue of $903 million, marking a 6% year-over-year increase, and a 9% rise when adjusted for foreign exchange. Security and compute revenue grew 26% year-over-year, representing 54% of total revenue. GAAP EPS was $0.74, down 21% year-over-year, while non-GAAP EPS was $1.35, down 5%. The company experienced a 24% decline in GAAP net income, totaling $120 million. Despite challenging conditions, Akamai maintained a strong performance in security solutions.

Akamai Technologies reports that web application attacks on the gaming industry have more than doubled over the past year, highlighting a significant rise in cyber threats. The company’s new report, Gaming Respawned, indicates a 167% increase in such attacks from Q1 2021 to Q1 2022, affecting millions of accounts globally. The report also notes that gaming accounts are at risk of being compromised, leading to potential theft of personal information and financial data. This surge aligns with the growth in the microtransaction market, projected to reach $106.02 billion by 2026.

Akamai Technologies (NASDAQ: AKAM) will host a conference call on August 9, 2022, at 4:30 p.m. ET to discuss its second quarter 2022 financial results. This call may offer forward-looking financial guidance from management. Interested investors can participate via live dial-in or watch a live broadcast on the Investor Relations page of Akamai's website. A replay of the call will be accessible for two weeks post-event. Akamai focuses on providing cloud solutions that secure online experiences for its customers.

Akamai Technologies has awarded $1 million in products and services to Bloomfield Robotics, the winner of its Future of Life Online Challenge. This initiative aims to tackle global food production issues through advanced agricultural technology. Bloomfield Robotics employs AI and imaging hardware to enhance crop monitoring, addressing challenges from environmental pressures and supply chain disruptions. With this grant, Bloomfield will leverage Akamai's edge computing and security solutions to improve the efficiency and safety of its operations, ensuring better crop performance and data protection.

Akamai Technologies (NASDAQ: AKAM) unveiled three crucial research reports at the RSA Conference 2022, focusing on ransomware, web applications and APIs, and DNS traffic. The reports provide an analysis of attack trends and methodologies, revealing that 60% of successful Conti ransomware attacks targeted U.S. companies. Notably, there was a 300% year-over-year increase in web application attacks. Additionally, over 10% of monitored devices were found to communicate with malicious domains, highlighting significant cybersecurity threats. These insights aim to bolster security for organizations worldwide.