Akamai Technologies Inc - AKAM STOCK NEWS

On March 16, 2021, MilliporeSigma, Akamai Technologies (AKAM), Synopsys (SNPS), and Uber (UBER) signed significant power purchase agreements with Enel Green Power for a combined 111 MW of renewable energy from the Azure Sky wind project in Texas. This aggregation deal allows companies with smaller energy needs to jointly procure renewable energy, promoting sustainability goals. MilliporeSigma will source 68 MW, Akamai 18 MW, Synopsys 15 MW, and Uber 10 MW of the total capacity. The project aims to generate approximately 430,000 MWh annually, equivalent to the energy consumption of about 40,000 US homes.

Akamai Technologies (NASDAQ: AKAM) announces a strategic partnership with Queue-it to tackle traffic surges in COVID-19 vaccine registration. The collaboration introduces the Akamai Vaccine Edge, which redirects excess traffic to a waiting room, providing users with their queue status and estimated wait time. This solution aims to enhance user experience, ensuring fairness and reducing stress during registration. Vaccine Edge is designed for quick deployment and emphasizes compliance with privacy regulations. Already in use across several U.S. states and Canadian provinces, it showcases the potential of edge computing to manage high-demand scenarios.

Akamai Technologies published its 2021 State of the Internet/Security report, detailing the significant internet traffic increase of 30% in 2020 due to pandemic-related lockdowns. The report highlights Akamai's strengths in cybersecurity, noting 21.5 million malicious DNS queries targeted its systems, predominantly malware attacks. Akamai's Zero Trust security model allowed for the effective transition to a largely remote workforce. The findings underscore the evolving threat landscape and Akamai's commitment to adapting security measures in the face of ongoing challenges.

Akamai Technologies (NASDAQ: AKAM) has been recognized as a Leader in The Forrester Wave™: DDoS Mitigation Solutions, Q1 2021 evaluation. This recognition stems from Akamai achieving the highest scores in critical areas such as volumetric scrubbing, service delivery, and threat intelligence. Akamai's DDoS protection portfolio includes Kona Site Defender and Prolexic, catering to diverse client needs. The company also addressed the increased risks of DDoS attacks seen in 2020, where it mitigated record-breaking attacks. This accolade reinforces Akamai's position as a trusted vendor for enterprises seeking robust DDoS protection.

Akamai Technologies (NASDAQ: AKAM) will hold a virtual Investor Summit on February 25, 2021, starting at 8:30 a.m. ET. The event will feature formal presentations discussing key company priorities and may include forward-looking financial guidance. A Q&A session is scheduled from 11:30 a.m. to 12:30 p.m. ET. Registered attendees can access the live webcast through a provided link, and an archive will be available on the Investor Relations page after the event.

Akamai secures and delivers digital experiences for major brands globally.

Akamai Technologies reported strong performance for Q4 and full-year 2020, with revenues of $846 million for Q4, reflecting a 10% year-over-year increase, and total annual revenue of $3.2 billion, up 11%. The company achieved a GAAP EPS of $0.68 for Q4 and $3.37 for the full year, marking a 16% yearly increase. Notably, its Cloud Security Solutions revenue surpassed $1 billion, growing 25%. The company also exceeded its 30% non-GAAP operating margin goal, further demonstrating robust financial health amidst the pandemic.

Akamai Technologies (NASDAQ: AKAM) announced a significant organizational realignment aimed at enhancing agility and growth in its $1 billion security business. Effective March 1, the company will form two new groups: Security Technology and Edge Technology, alongside a unified Global Sales Organization. Key appointments include Rick McConnell and Adam Karon leading the new groups, and Dr. Robert Blumofe as chief technology officer to drive innovation. Akamai's leadership expressed confidence that the restructuring will better position the company to meet evolving digital business demands and capitalize on growth opportunities.

The Editorial Advisory and Securities Review Committee of BetterInvesting Magazine has selected T. Rowe Price Group Inc. (NASDAQ:TROW) as its 'Stock to Study' and Akamai Technologies Inc. (NASDAQ:AKAM) as its 'Undervalued Stock' for the April 2021 issue. This choice comes amid discussions on the importance of fundamental investor education following the GameStop trading frenzy. While these selections are for educational purposes, BetterInvesting encourages investors to utilize its tools for making informed investment decisions.

Akamai Technologies (NASDAQ: AKAM) announced the acquisition of Inverse, a Montreal-based company, to enhance its enterprise security offerings and expand its zero trust and secure access service edge (SASE) solutions for IoT. The all-cash deal aims to leverage Inverse's data repository and advanced algorithms to improve device visibility and security controls as the number of internet-connected devices is projected to reach 41.6 billion by 2025. The transaction is not anticipated to materially affect Akamai's financial results for 2020 and is expected to close in Q1 2021.