Akamai Technologies Inc Stock Price, News & Analysis

Akamai Technologies, Inc. (NASDAQ: AKAM) announced the upcoming retirement of chairman Frederic V. Salerno effective June 3, 2021. Daniel R. Hesse, an existing board member and chair of the ESG committee, will succeed him. Salerno has been with Akamai since 2002, contributing significantly to its growth from a $300 million market cap to over $16 billion today. Hesse, a former CEO of Sprint, aims to enhance Akamai’s commitment to corporate responsibility. CEO Tom Leighton acknowledged Salerno’s pivotal leadership over the last two decades.

Akamai Technologies has launched Akamai MFA, a phish-proof multi-factor authentication solution utilizing FIDO2 standards. This innovation enables enterprises to implement secure authentication without managing hardware keys, lowering costs and complexity. The solution operates through a smartphone app, enhancing user experience while ensuring robust security. Deployed on the Akamai Intelligent Edge Platform, Akamai MFA integrates with major identity providers and is available now, allowing organizations to activate a 60-day trial for evaluation.

On March 16, 2021, MilliporeSigma, Akamai Technologies (AKAM), Synopsys (SNPS), and Uber (UBER) signed significant power purchase agreements with Enel Green Power for a combined 111 MW of renewable energy from the Azure Sky wind project in Texas. This aggregation deal allows companies with smaller energy needs to jointly procure renewable energy, promoting sustainability goals. MilliporeSigma will source 68 MW, Akamai 18 MW, Synopsys 15 MW, and Uber 10 MW of the total capacity. The project aims to generate approximately 430,000 MWh annually, equivalent to the energy consumption of about 40,000 US homes.

Akamai Technologies (NASDAQ: AKAM) announces a strategic partnership with Queue-it to tackle traffic surges in COVID-19 vaccine registration. The collaboration introduces the Akamai Vaccine Edge, which redirects excess traffic to a waiting room, providing users with their queue status and estimated wait time. This solution aims to enhance user experience, ensuring fairness and reducing stress during registration. Vaccine Edge is designed for quick deployment and emphasizes compliance with privacy regulations. Already in use across several U.S. states and Canadian provinces, it showcases the potential of edge computing to manage high-demand scenarios.

Akamai Technologies published its 2021 State of the Internet/Security report, detailing the significant internet traffic increase of 30% in 2020 due to pandemic-related lockdowns. The report highlights Akamai's strengths in cybersecurity, noting 21.5 million malicious DNS queries targeted its systems, predominantly malware attacks. Akamai's Zero Trust security model allowed for the effective transition to a largely remote workforce. The findings underscore the evolving threat landscape and Akamai's commitment to adapting security measures in the face of ongoing challenges.

Akamai Technologies (NASDAQ: AKAM) has been recognized as a Leader in The Forrester Wave™: DDoS Mitigation Solutions, Q1 2021 evaluation. This recognition stems from Akamai achieving the highest scores in critical areas such as volumetric scrubbing, service delivery, and threat intelligence. Akamai's DDoS protection portfolio includes Kona Site Defender and Prolexic, catering to diverse client needs. The company also addressed the increased risks of DDoS attacks seen in 2020, where it mitigated record-breaking attacks. This accolade reinforces Akamai's position as a trusted vendor for enterprises seeking robust DDoS protection.

Akamai Technologies (NASDAQ: AKAM) will hold a virtual Investor Summit on February 25, 2021, starting at 8:30 a.m. ET. The event will feature formal presentations discussing key company priorities and may include forward-looking financial guidance. A Q&A session is scheduled from 11:30 a.m. to 12:30 p.m. ET. Registered attendees can access the live webcast through a provided link, and an archive will be available on the Investor Relations page after the event.

Akamai secures and delivers digital experiences for major brands globally.

Akamai Technologies reported strong performance for Q4 and full-year 2020, with revenues of $846 million for Q4, reflecting a 10% year-over-year increase, and total annual revenue of $3.2 billion, up 11%. The company achieved a GAAP EPS of $0.68 for Q4 and $3.37 for the full year, marking a 16% yearly increase. Notably, its Cloud Security Solutions revenue surpassed $1 billion, growing 25%. The company also exceeded its 30% non-GAAP operating margin goal, further demonstrating robust financial health amidst the pandemic.

Akamai Technologies (NASDAQ: AKAM) announced a significant organizational realignment aimed at enhancing agility and growth in its $1 billion security business. Effective March 1, the company will form two new groups: Security Technology and Edge Technology, alongside a unified Global Sales Organization. Key appointments include Rick McConnell and Adam Karon leading the new groups, and Dr. Robert Blumofe as chief technology officer to drive innovation. Akamai's leadership expressed confidence that the restructuring will better position the company to meet evolving digital business demands and capitalize on growth opportunities.