Akamai Technologies Inc Stock Price, News & Analysis

Akamai Technologies (NASDAQ: AKAM) has launched the Akamai App Platform, a cloud-agnostic solution built on Kubernetes technology from their recently acquired Otomi. The platform offers ready-to-run templates that simplify deployment, management, and scaling of Kubernetes clusters, reducing deployment time from months to under an hour. The solution provides essential capabilities including customizable templates, a self-service environment, and a framework integrating preconfigured open source projects. Key features include simplified operational complexity, standardized deployments, true workload portability, and integrated security and observability features.

Akamai Technologies (NASDAQ: AKAM) reported Q3 2024 revenue of $1.005 billion, up 4% year-over-year, marking its first billion-dollar quarter. Security revenue grew 14% to $519 million, while Compute revenue increased 28% to $167 million. However, Delivery revenue declined 16% to $319 million. The company recorded a $82 million restructuring charge related to workforce reduction, resulting in GAAP net income of $58 million (down 64%) and EPS of $0.38 (down 63%). Security and compute solutions now represent 68% of total revenue, growing 17% year-over-year. The company maintains strong cash position with $1.979 billion in cash and equivalents.

Akamai Technologies (NASDAQ: AKAM) has enhanced its Account Protector security solution with new real-time capabilities designed to protect user accounts throughout their entire lifecycle. The upgraded solution now offers comprehensive protection against account opening abuse, takeover attacks, and fraudulent activities from account creation through post-login activities.

The enhanced features include lifecycle protection, flexible risk management, and advanced API operations for critical activities such as account updates, password changes, and payments. The system continuously monitors user behavior, analyzes risk signals, and initiates automated responses to balance security with user experience.

Akamai Technologies Inc. (NASDAQ: AKAM) announced that APIContext has joined the Akamai Qualified Compute Partner Program as an Independent Software Vendor (ISV). APIContext offers advanced API performance monitoring and compliance testing solutions, leveraging Akamai's global cloud platform to provide real-world, end-to-end monitoring.

APIContext has launched synthetic tests from 24 Akamai availability zones and utilizes various Akamai Linode services. This integration enables businesses to identify and address potential performance issues proactively. The partnership aims to bring proactive API performance monitoring to Akamai's customer base, ensuring high-performance, mission-critical APIs remain compliant, governable, and resilient across multiple regions.

The Akamai Qualified Compute Partner Program facilitates easy access to solution-based services interoperable with Akamai's cloud computing services for its customers.

Akamai Technologies (NASDAQ: AKAM) has announced the Behavioral DDoS Engine for its App & API Protector solution. This new capability uses machine learning for automatic, proactive protection against application-layer DDoS attacks. It offers advanced detection and mitigation by analyzing anomalies and correlating multidimensional traffic data.

The engine provides customized, hands-off protection tailored to specific traffic baselines and risk sensitivities, minimizing manual intervention. It leverages global DDoS intelligence from the Akamai platform for automatic updates and modernized defense.

Akamai is also introducing an AI Assistant embedded in its web security analytics, allowing users to quickly filter and query security insights via a chat-based interface. The release includes additional capabilities such as Rapid Rules for fast CVE and zero-day protection, and improvements to the Adaptive Security Engine.

Akamai Technologies (NASDAQ: AKAM) and Kyndryl (NYSE: KD) have announced a collaboration to offer Zero Trust Segmentation Services. Kyndryl teams worldwide are certified to provide implementation and managed services for Akamai Guardicore Segmentation under the Guardicore certified Service Provider (GcSP) program. This collaboration aims to help customers accelerate Zero Trust implementations and address evolving cybersecurity challenges.

The partnership combines Kyndryl's consulting expertise with Akamai's technology to offer a seamless solution for designing and achieving Zero Trust, segmentation, and network security objectives. The service helps increase cyber resiliency by limiting lateral movement of threats and securing organizational assets and data through robust authentication methods and real-time, risk-based access policies.

Akamai Technologies (NASDAQ: AKAM), the cloud company that powers and protects life online, has announced it will hold an investor conference call on Thursday, November 7, 2024, at 4:30 p.m. ET. The call will cover the company's third quarter 2024 financial results and may include forward-looking financial guidance from management. This event provides an opportunity for investors to gain insights into Akamai's recent performance and future outlook.

Akamai Technologies has announced a new native connector between Akamai API Security and Akamai Connected Cloud. This integration aims to simplify and accelerate the discovery and protection of APIs by enabling customers to send a copy of their Akamai Connected Cloud traffic directly to API Security for analysis and rapid attack blocking.

The native connector offers several benefits, including faster ROI with rapid, zero-touch deployment, reduced total cost of ownership, and rapid attack response with direct blocking capability at the Akamai edge. Akamai API Security's vendor-neutral approach allows integration with over 40 traffic sources, providing flexibility for organizations to use their preferred technologies while benefiting from advanced API security capabilities.

Currently, the native connector is used by more than 100 Akamai customers, analyzing over 300,000 APIs that generate over half a trillion monthly requests. The connector will be generally available on October 1, 2024.

Akamai Technologies (NASDAQ: AKAM) has achieved a company-wide ISO 14001 attestation, demonstrating its commitment to high standards for environmental management systems across its entire Akamai Connected Cloud. This internationally recognized standard provides a framework for organizations to continually improve their environmental performance.

The attestation ensures Akamai is taking proactive measures to minimize its environmental footprint, comply with legal requirements, achieve environmental objectives, and identify ways to continuously improve. Akamai's Environmental Management System (EMS) is designed to reduce the company's environmental impact, manage risks, and opportunities across its entire value chain.

Mike Mattera, director of corporate sustainability and ESG officer at Akamai, stated that this achievement is a testament to the company's commitment to environmental excellence. As a leader in the internet ecosystem, Akamai is pursuing five 2030 goals across its Connected Cloud to address pressing environmental concerns.