Akamai Technologies (AKAM) ended the recent trading session at $101.85, demonstrating a -1.08% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.33% for the day. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq lost 0.56%.

Shares of the cloud services provider witnessed a gain of 3.15% over the previous month, beating the performance of the Computer and Technology sector with its gain of 2.83% and the S&P 500's gain of 1.83%.

Analysts and investors alike will be keeping a close eye on the performance of Akamai Technologies in its upcoming earnings disclosure. The company's earnings report is set to go public on November 7, 2024. It is anticipated that the company will report an EPS of $1.59, marking a 2.45% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1 billion, indicating a 3.62% growth compared to the corresponding quarter of the prior year.

AKAM's full-year Zacks Consensus Estimates are calling for earnings of $6.43 per share and revenue of $4 billion. These results would represent year-over-year changes of +3.71% and +4.84%, respectively.

Investors should also note any recent changes to analyst estimates for Akamai Technologies. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Akamai Technologies holds a Zacks Rank of #3 (Hold).

Looking at its valuation, Akamai Technologies is holding a Forward P/E ratio of 16.02. This indicates a discount in contrast to its industry's Forward P/E of 35.36.

Investors should also note that AKAM has a PEG ratio of 2.27 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Internet - Services industry had an average PEG ratio of 2.27.