Akamai Shares Fall as S&P 500 Posts a Smaller Loss
The stock fell 1.94% in the session, while Zacks forecasts lower quarterly earnings and higher revenue year over year.
Akamai Technologies shares fell 1.94% in the latest trading session, closing at $106.35. The stock lagged the S&P 500, which dropped 0.25%; the Dow lost 0.86%, while the Nasdaq rose 0.24%.
In the month before the session, Akamai shares had gained 1.87%. Over the same period, the Computer and Technology sector rose 4%, while the S&P 500 fell 0.42%.
Investors are awaiting the company’s upcoming earnings disclosure. Zacks Consensus Estimates put quarterly earnings per share at $1.67, down 10.22% from the year-earlier quarter, and revenue at $1.12 billion, up 6.07%.
For the full year, Zacks forecasts earnings of $6.63 per share, down 6.88%, and revenue of $4.49 billion, up 6.59%. Its consensus earnings estimate has declined 1.67% in the past 30 days.
Akamai’s forward price-to-earnings ratio is 16.35, compared with an industry average of 15.48, according to the article.
This article was produced with the help of AI technology.
Source: Yahoo Finance
