Akamai Technologies (AKAM) closed the latest trading day at $102.80, indicating a +0.08% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.22%. On the other hand, the Dow registered a loss of 0.33%, and the technology-centric Nasdaq increased by 0.76%.

The cloud services provider's stock has climbed by 3.09% in the past month, exceeding the Computer and Technology sector's gain of 2.29% and the S&P 500's gain of 1.47%.

Investors will be eagerly watching for the performance of Akamai Technologies in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 7, 2024. The company is predicted to post an EPS of $1.59, indicating a 2.45% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $1 billion, reflecting a 3.62% rise from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $6.43 per share and revenue of $4 billion, which would represent changes of +3.71% and +4.84%, respectively, from the prior year.

Any recent changes to analyst estimates for Akamai Technologies should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Akamai Technologies holds a Zacks Rank of #2 (Buy).

Investors should also note Akamai Technologies's current valuation metrics, including its Forward P/E ratio of 15.99. This valuation marks a discount compared to its industry's average Forward P/E of 35.45.

It is also worth noting that AKAM currently has a PEG ratio of 2.26. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Internet - Services industry was having an average PEG ratio of 2.26.