Akamai Technologies Inc Stock Price, News & Analysis

Akamai Technologies (NASDAQ: AKAM) will hold a conference call for investors on November 2, 2021, to discuss its third quarter 2021 financial results and provide forward-looking financial guidance. The call will be broadcast live on Akamai's Investor Relations page. Dial-in information includes (844) 578-9671 for U.S. calls and (508) 637-5655 for international calls, using Conference ID 1956828.

Akamai Technologies (NASDAQ: AKAM) announced it received the highest scores in three of four use cases in the 2021 Gartner Critical Capabilities report for Cloud Web Application and API Protection. Akamai's solutions were recognized in API Security and DevOps, High Security, and Web-Scale Business Applications. This recognition highlights Akamai's ability to protect web applications against attacks and enhance enterprise security. The report evaluated offerings from 11 companies, emphasizing the need for automated API discovery and anomaly detection capabilities.

Akamai Technologies, Inc. (NASDAQ: AKAM) has signed a definitive agreement to acquire Tel Aviv-based Guardicore for approximately $600 million. This acquisition aims to enhance Akamai's Zero Trust security portfolio by integrating Guardicore's micro-segmentation solution, which limits unauthorized access to applications, thereby reducing malware risks. Expected revenue contributions from Guardicore are projected at $30-35 million for fiscal year 2022, with anticipated non-GAAP operating margins returning to 30% in 2023. The deal is expected to close in Q4 2021, subject to customary conditions.

Akamai Technologies has launched Learn Akamai, a free on-demand learning platform aimed at enabling customers to maximize the value of Akamai solutions. This platform offers self-directed learning paths, hands-on labs, and a variety of resources tailored for different knowledge levels. It is designed for organizations with limited training budgets and helps get new employees up to speed quickly. Akamai will continuously update the content, keeping it aligned with evolving customer needs.

Akamai Technologies reported strong second-quarter results for 2021, with revenues reaching $853 million, a 7% increase year-over-year. The Security Technology Group saw a 25% growth in revenue, totaling $325 million, while the Edge Technology Group's revenue decreased by 1% to $528 million. GAAP net income was $156 million, reflecting a 3% decline from the previous year. Non-GAAP EPS increased by 3% to $1.42. Cash from operations was $378 million, equating to 44% of revenue, with significant share buybacks totaling $96 million.

Akamai Technologies (NASDAQ: AKAM) will hold an investor conference call on August 3, 2021, at 4:30 p.m. ET to discuss its second quarter 2021 financial results. The call is available via live dial-in for U.S. (844-578-9671) and international participants (508-637-5655) using Conference ID 3968976. A replay will be accessible for two weeks post-call. Future financial results are scheduled for November 2, 2021 and February 15, 2022.

Akamai Technologies (NASDAQ: AKAM) reported a significant increase in cyberattacks targeting the video game industry during the COVID-19 pandemic. Their State of the Internet / Security report revealed over 240 million web application attacks in 2020, a 340% increase from 2019. Credential stuffing attacks reached nearly 11 billion, up 224% from the previous year. SQL injection was the most common attack vector, making up 59% of incidents. The report highlights ongoing security challenges, stressing the importance of robust password management and multi-factor authentication for gamers.

Akamai Technologies (NASDAQ: AKAM) announced significant security enhancements to its platform on June 16, 2021. These upgrades focus on protecting web applications, APIs, and user accounts using advanced machine learning to automate threat detection. Key features include the Adaptive Security Engine for dynamic protection adjustments, Audience Hijacking Protection against client-side attacks, and a new Akamai Account Protector to block fraudulent human activity. Forrester's report anticipates a continued rise in identity theft and account takeovers, highlighting the importance of these security measures.