Akamai Technologies Inc Stock Price, News & Analysis

Akamai Technologies' latest State of the Internet (SOTI) report reveals that financial services remains the most targeted industry for DDoS attacks, accounting for 34% of such incidents. The surge in attacks is attributed to geopolitical tensions and increased hacktivist activities. Key findings include:

1. Financial services is most impacted by brand impersonation (36%) and phishing (68% of counterfeit domains).
2. Sharp increases in Layer 7 DDoS attacks targeting APIs, particularly undocumented shadow APIs.
3. DDoS event frequency doesn't always correlate with attack intensity.
4. Well-known threat actors like REvil, BlackCat, and Anonymous Sudan are involved in these attacks.

The report aims to help financial services cybersecurity professionals understand the complex threat landscape and implement best practices to protect customers.

Akamai (NASDAQ: AKAM) has joined the Streaming Video Technology Alliance (SVTA) as a Principal Member, following the merger of DASH Industry Forum and SVTA. This move aligns with Akamai's commitment to developing web and internet standards. As a pioneer in content delivery networks for video streaming, Akamai has been instrumental in advancing streaming video standards.

The company's involvement in SVTA aims to benefit media companies through greater standardization, improved viewing experiences, and innovation in areas like low-latency streaming and quality measurement. Akamai will showcase its cloud-based media delivery, computing, and security capabilities at IBC 2024 in Amsterdam, demonstrating its ongoing commitment to advancing streaming technologies and industry standards.

Akamai (NASDAQ: AKAM) has introduced new video workflow capabilities at IBC, giving media companies greater control across the video delivery chain. The new features combine Akamai's cloud and delivery platforms with its growing partner network, offering unprecedented flexibility to tailor media experiences.

Key points:

• Customers can bring their preferred workflow components and run them as needed
• Support for multicloud architectures eliminates vendor lock-in
• Akamai's distributed cloud platform minimizes egress fees
• Media companies can choose from multiple software and partner options for content management
• Akamai added media-optimized, NVIDIA-based GPUs to its cloud solutions

These developments address industry concerns about control, competition, and costs associated with centralized cloud models, as highlighted in recent studies by Forrester Consulting and a survey of media and entertainment businesses.

Akamai Technologies (NASDAQ: AKAM) has been named a Leader in The Forrester Wave™: Microsegmentation Solutions, Q3 2024 report. The company received the highest scores possible in several criteria, including flow and asset discovery, policy management, and ZTNA integration. Forrester highlighted Akamai Guardicore's innovations, such as multifactor segmentation and integrations with Akamai's ZTNA solution, DNS firewall, and threat intelligence.

The Akamai Guardicore Platform enables Zero Trust through a single agent that integrates microsegmentation, ZTNA, multi-factor authentication, DNS firewall, and threat hunting. Recent updates include AI-powered features to simplify user experience, multi-factor segmentation, and essential policy implementation. Pavel Gurvich, SVP of Enterprise Security at Akamai, stated that this recognition validates their commitment to customers and ongoing innovation.

Akamai Technologies (NASDAQ: AKAM) reported strong Q2 2024 financial results, with revenue reaching $980 million, a 5% year-over-year increase. Security and compute revenue, representing 66% of total revenue, grew 17% year-over-year. GAAP net income per diluted share was $0.86, up 2% year-over-year, while non-GAAP net income per diluted share was $1.58, up 6% year-over-year. The company's security revenue increased by 15% to $499 million, and compute revenue grew 23% to $151 million. However, delivery revenue declined 13% to $329 million. Akamai's cash from operations was $431 million, or 44% of revenue. The company provided guidance for Q3 and full-year 2024, projecting continued growth in security and compute revenues.

Akamai Technologies (NASDAQ: AKAM) has announced a partnership with Datadog to integrate Datadog Cloud SIEM with Akamai's Zero Trust solutions. This collaboration aims to enhance organizations' security posture, reduce risk, and improve the efficiency of security operations teams. The integration addresses the rising threat of ransomware, with Akamai reporting a 143% increase in ransomware victims between Q1 2022 and Q1 2023.

Key benefits of this partnership include:

• Enhanced visibility and continuous monitoring
• Improved threat detection and response
• Contextual insights for better access control decisions
• Strengthened compliance and regulatory adherence
• Holistic risk management approach

This integration represents an expansion of the existing Technology Partner Program between Akamai and Datadog.

Akamai Technologies (NASDAQ: AKAM) has announced its intent to achieve FedRAMP High accreditation and DoD Impact Levels 4 and 5 accreditations through its Defense Edge initiative. These accreditations will build upon Akamai's existing FedRAMP Moderate accreditation, enabling the company to serve federal entities with elevated security and compliance requirements.

The FedRAMP High accreditation involves rigorous compliance with comprehensive security controls for protecting highly sensitive government data. DoD CC SRG Impact Levels 4 and 5 will allow Akamai to engage with law enforcement, defense, and national security workloads. These efforts align with the increasing demand for robust cybersecurity measures in the public sector and highlight Akamai's commitment to innovation, security, and customer trust.

Akamai Technologies (NASDAQ: AKAM) has released a new State of the Internet report highlighting the increasing threats to applications and APIs. Key findings include:

- 26 billion web attacks against applications and APIs observed in June 2024 alone
- 49% surge in these attacks over the last year
- 108 billion API attacks recorded from January 2023 through June 2024
- High technology, commerce, and social media were the most targeted industries by Layer 7 DDoS attacks
- DNS protocol was a component in 60% of Layers 3 and 4 DDoS attack events

The report emphasizes the growing concern of API abuse and its potential consequences, including data theft, brand reputation damage, regulatory fines, and financial losses.

Akamai Technologies Inc. (NASDAQ: AKAM) has announced that Yospace has joined the Akamai Qualified Compute Partner Program as an Independent Software Vendor (ISV). Yospace, a leader in server-side ad insertion (SSAI), will provide media companies with tools to enhance their advertising businesses on Akamai's distributed edge and cloud platform.

The partnership aims to help media companies scale up streaming audiences and apply addressable advertising at scale. As part of the program, Yospace's SSAI technology will be easily accessible to Akamai customers, enabling advanced advertising strategies across Akamai Connected Cloud. Both companies will showcase their technologies at IBC 2024 in Amsterdam, September 13-16.