We recently compiled a list of the 10 Stocks Record Biggest Double-Digit Drop on Friday. In this article, we are going to take a look at where Akamai Technologies, Inc. (NASDAQ:AKAM) stands against the other stocks.

The stock market ended the trading week in a bloodbath, with major indices registering losses amid concerns over a slowing economy and sticky inflation.

The Dow Jones fell by 1.69 percent, the S&P declined by 1.71 percent, while the tech-heavy Nasdaq nosedived by 2.20 percent.

Ten stocks mirrored a broader market decline, posting double-digit losses, with sentiment for most of the companies dampened by dismal earnings performance.

To come up with Friday’s biggest losers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A close-up of a person using a laptop with cloud solutions in the background.

Akamai Technologies, Inc. (NASDAQ:AKAM)

Akamai Technologies, Inc. (NASDAQ:AKAM) fell for a second day on Friday, losing 21.73 percent to finish at $76.73 each as investor sentiment was weighed down by the drop in the company’s net income last year.

In a statement, Akamai Technologies, Inc. (NASDAQ:AKAM) said net income dropped by 13 percent in the fourth quarter of the year to $139 million from $161 million year-on-year, while net profit for the full year declined by 7.8 percent to $504.9 million from $547.6 million.

Revenues for the quarter period, however, inched up by 2.4 percent, while revenues for the full year grew 4.7 percent to $3.99 billion from $3.8 billion.

Additionally, traders focused on the company’s 2025 revenue outlook which came up short of analysts’ expectations.

For the first quarter, Akamai Technologies, Inc. (NASDAQ:AKAM) expects revenues to settle between $1 billion to $1.02 billion, while revenues were pegged between $4 billion to $4.2 billion for the full year 2025.

Overall AKAM ranks 3rd on our list of Friday's biggest losers. While we acknowledge the potential of AKAM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as AKAM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock

 

Disclosure: None. This article is originally published at Insider Monkey.