Wall Street analysts expect Akamai Technologies (AKAM) to post quarterly earnings of $1.58 per share in its upcoming report, which indicates a year-over-year decline of 8.7%. Revenues are expected to be $1.09 billion, up 4.6% from the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 0.1% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Akamai Technologies metrics that are routinely monitored and predicted by Wall Street analysts.
The combined assessment of analysts suggests that 'Revenue- Security' will likely reach $597.67 million. The estimate indicates a change of +8.3% from the prior-year quarter.
Analysts predict that the 'Revenue- Cloud Infrastructure Services' will reach $103.79 million. The estimate points to a change of -39.5% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Revenue- Delivery and other cloud applications' of $391.50 million. The estimate indicates a change of +22.3% from the prior-year quarter.
Analysts expect 'Revenue- International' to come in at $537.11 million. The estimate points to a change of +4.1% from the year-ago quarter.
Based on the collective assessment of analysts, 'Revenue- United States' should arrive at $554.18 million. The estimate suggests a change of +5% year over year.
View all Key Company Metrics for Akamai Technologies here>>>Shares of Akamai Technologies have experienced a change of +4.6% in the past month compared to the +1.7% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), AKAM is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Akamai Technologies, Inc. (AKAM): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).