Here's Why Akamai Technologies (AKAM) Gained But Lagged the Market Today

Company Performance - Akamai Technologies (AKAM) closed at $102.80, with a slight increase of +0.08% from the previous session, underperforming the S&P 500's gain of 0.22% [1] - The stock has increased by 3.09% over the past month, outperforming the Computer and Technology sector's gain of 2.29% and the S&P 500's gain of 1.47% [1] - The upcoming earnings report is scheduled for November 7, 2024, with an expected EPS of$ 1.59, reflecting a 2.45% decline year-over-year, while revenue is projected at $1 billion, indicating a 3.62% increase [1] Earnings Estimates - For the full year, the Zacks Consensus Estimates project earnings of$ 6.43 per share and revenue of $4 billion, representing increases of +3.71% and +4.84% from the prior year [2] - Recent changes to analyst estimates indicate a positive outlook for Akamai Technologies, as upward revisions suggest confidence in the company's profitability [2] Valuation Metrics - Akamai Technologies has a Zacks Rank of 2 (Buy), with a Forward P/E ratio of 15.99, which is a discount compared to the industry's average Forward P/E of 35.45 [3] - The company has a PEG ratio of 2.26, aligning with the average PEG ratio of the Internet - Services industry [3] Industry Overview - The Internet - Services industry, part of the Computer and Technology sector, holds a Zacks Industry Rank of 63, placing it in the top 25% of over 250 industries [4] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [4]