The most recent trading session ended with Akamai Technologies (AKAM) standing at $82.06, reflecting a -0.88% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 1.07%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, lost 1.71%.

The cloud services provider's shares have seen a decrease of 17.22% over the last month, not keeping up with the Computer and Technology sector's loss of 11.12% and the S&P 500's loss of 7.03%.

Market participants will be closely following the financial results of Akamai Technologies in its upcoming release. The company's upcoming EPS is projected at $1.58, signifying a 3.66% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.01 billion, showing a 2.42% escalation compared to the year-ago quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.32 per share and revenue of $4.12 billion, indicating changes of -2.47% and +3.14%, respectively, compared to the previous year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Akamai Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 9.06% lower. Akamai Technologies is holding a Zacks Rank of #4 (Sell) right now.

In terms of valuation, Akamai Technologies is currently trading at a Forward P/E ratio of 13.1. For comparison, its industry has an average Forward P/E of 21.64, which means Akamai Technologies is trading at a discount to the group.

Also, we should mention that AKAM has a PEG ratio of 2.15. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. AKAM's industry had an average PEG ratio of 1.34 as of yesterday's close.

The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 159, finds itself in the bottom 37% echelons of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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Akamai Technologies, Inc. (AKAM) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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