Akamai Technologies Inc Stock Price, News & Analysis

Akamai Technologies has announced a new native connector between Akamai API Security and Akamai Connected Cloud. This integration aims to simplify and accelerate the discovery and protection of APIs by enabling customers to send a copy of their Akamai Connected Cloud traffic directly to API Security for analysis and rapid attack blocking.

The native connector offers several benefits, including faster ROI with rapid, zero-touch deployment, reduced total cost of ownership, and rapid attack response with direct blocking capability at the Akamai edge. Akamai API Security's vendor-neutral approach allows integration with over 40 traffic sources, providing flexibility for organizations to use their preferred technologies while benefiting from advanced API security capabilities.

Currently, the native connector is used by more than 100 Akamai customers, analyzing over 300,000 APIs that generate over half a trillion monthly requests. The connector will be generally available on October 1, 2024.

Akamai Technologies (NASDAQ: AKAM) has achieved a company-wide ISO 14001 attestation, demonstrating its commitment to high standards for environmental management systems across its entire Akamai Connected Cloud. This internationally recognized standard provides a framework for organizations to continually improve their environmental performance.

The attestation ensures Akamai is taking proactive measures to minimize its environmental footprint, comply with legal requirements, achieve environmental objectives, and identify ways to continuously improve. Akamai's Environmental Management System (EMS) is designed to reduce the company's environmental impact, manage risks, and opportunities across its entire value chain.

Mike Mattera, director of corporate sustainability and ESG officer at Akamai, stated that this achievement is a testament to the company's commitment to environmental excellence. As a leader in the internet ecosystem, Akamai is pursuing five 2030 goals across its Connected Cloud to address pressing environmental concerns.

Akamai Technologies (NASDAQ: AKAM) has been named a Leader in the IDC MarketScape: Web Application and API Protection (WAAP) 2024 Vendor Assessment. The report highlights Akamai's comprehensive approach to addressing security, availability, integrity, and compliance requirements for modern digital businesses.

The IDC MarketScape praised Akamai's integrated delivery, performance, and security capabilities, noting that the company offers advanced and specialized features as optional add-ons. This strategy allows businesses to tailor solutions to their specific needs.

WAAP combines multiple security functions, including WAF, bot management, API security, and DDoS mitigation, into a unified platform. Akamai's recognition underscores its ability to help organizations protect their applications and APIs, which are important for business operations and customer satisfaction.

Akamai Technologies' latest State of the Internet (SOTI) report reveals that financial services remains the most targeted industry for DDoS attacks, accounting for 34% of such incidents. The surge in attacks is attributed to geopolitical tensions and increased hacktivist activities. Key findings include:

1. Financial services is most impacted by brand impersonation (36%) and phishing (68% of counterfeit domains).
2. Sharp increases in Layer 7 DDoS attacks targeting APIs, particularly undocumented shadow APIs.
3. DDoS event frequency doesn't always correlate with attack intensity.
4. Well-known threat actors like REvil, BlackCat, and Anonymous Sudan are involved in these attacks.

The report aims to help financial services cybersecurity professionals understand the complex threat landscape and implement best practices to protect customers.

Akamai (NASDAQ: AKAM) has joined the Streaming Video Technology Alliance (SVTA) as a Principal Member, following the merger of DASH Industry Forum and SVTA. This move aligns with Akamai's commitment to developing web and internet standards. As a pioneer in content delivery networks for video streaming, Akamai has been instrumental in advancing streaming video standards.

The company's involvement in SVTA aims to benefit media companies through greater standardization, improved viewing experiences, and innovation in areas like low-latency streaming and quality measurement. Akamai will showcase its cloud-based media delivery, computing, and security capabilities at IBC 2024 in Amsterdam, demonstrating its ongoing commitment to advancing streaming technologies and industry standards.

Akamai (NASDAQ: AKAM) has introduced new video workflow capabilities at IBC, giving media companies greater control across the video delivery chain. The new features combine Akamai's cloud and delivery platforms with its growing partner network, offering unprecedented flexibility to tailor media experiences.

Key points:

• Customers can bring their preferred workflow components and run them as needed
• Support for multicloud architectures eliminates vendor lock-in
• Akamai's distributed cloud platform minimizes egress fees
• Media companies can choose from multiple software and partner options for content management
• Akamai added media-optimized, NVIDIA-based GPUs to its cloud solutions

These developments address industry concerns about control, competition, and costs associated with centralized cloud models, as highlighted in recent studies by Forrester Consulting and a survey of media and entertainment businesses.

Akamai Technologies (NASDAQ: AKAM) has been named a Leader in The Forrester Wave™: Microsegmentation Solutions, Q3 2024 report. The company received the highest scores possible in several criteria, including flow and asset discovery, policy management, and ZTNA integration. Forrester highlighted Akamai Guardicore's innovations, such as multifactor segmentation and integrations with Akamai's ZTNA solution, DNS firewall, and threat intelligence.

The Akamai Guardicore Platform enables Zero Trust through a single agent that integrates microsegmentation, ZTNA, multi-factor authentication, DNS firewall, and threat hunting. Recent updates include AI-powered features to simplify user experience, multi-factor segmentation, and essential policy implementation. Pavel Gurvich, SVP of Enterprise Security at Akamai, stated that this recognition validates their commitment to customers and ongoing innovation.

Akamai Technologies (NASDAQ: AKAM) reported strong Q2 2024 financial results, with revenue reaching $980 million, a 5% year-over-year increase. Security and compute revenue, representing 66% of total revenue, grew 17% year-over-year. GAAP net income per diluted share was $0.86, up 2% year-over-year, while non-GAAP net income per diluted share was $1.58, up 6% year-over-year. The company's security revenue increased by 15% to $499 million, and compute revenue grew 23% to $151 million. However, delivery revenue declined 13% to $329 million. Akamai's cash from operations was $431 million, or 44% of revenue. The company provided guidance for Q3 and full-year 2024, projecting continued growth in security and compute revenues.

Akamai Technologies (NASDAQ: AKAM) has announced a partnership with Datadog to integrate Datadog Cloud SIEM with Akamai's Zero Trust solutions. This collaboration aims to enhance organizations' security posture, reduce risk, and improve the efficiency of security operations teams. The integration addresses the rising threat of ransomware, with Akamai reporting a 143% increase in ransomware victims between Q1 2022 and Q1 2023.

Key benefits of this partnership include:

• Enhanced visibility and continuous monitoring
• Improved threat detection and response
• Contextual insights for better access control decisions
• Strengthened compliance and regulatory adherence
• Holistic risk management approach

This integration represents an expansion of the existing Technology Partner Program between Akamai and Datadog.