Akamai Technologies, Inc. (AKAM - Free Report) is scheduled to report first-quarter 2022 results on May 3, after the closing bell. In the last reported quarter, the company delivered an earnings surprise of 4.9%. It pulled off a trailing four-quarter earnings surprise of 4.4%, on average.
The Cambridge, MA-based company is expected to have recorded year-over-year higher revenues, driven by growth in its security business. Growing demand for cloud infrastructure solutions, mobile products and online video amid high data traffic is favoring its prospects.
During the quarter, Akamai completed the acquisition of Linode, a leading Infrastructure-as-a-service platform provider, for almost $900 million. This combines Linode’s developer-friendly cloud computing capabilities with Akamai’s market-leading edge platform and security services. Together with Linode, Akamai intends to become the world’s most distributed compute platform, from cloud to edge.
The Zacks Consensus Estimate for revenues is pegged at $905 million, which indicates growth of 7.4% from the year-ago quarter’s reported figure. The consensus estimate for adjusted earnings per share is pegged at $1.42, suggesting an increase of 2.9%.
What Our Model Says
Our proven model doesn’t conclusively predict an earnings beat for Akamai this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Akamai’s Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is 0.00%, as both are pegged at $1.42.
Zacks Rank: Akamai currently carries a Zacks Rank #3.
Stocks to Consider
Here are some companies that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this quarter:
Westlake Corporation (WLK - Free Report) is slated to release first-quarter 2022 results on May 3. Westlake has an Earnings ESP of +17.30% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Computer Programs and Systems, Inc. is scheduled to release first-quarter 2022 results on May 3. Computer Programs has an Earnings ESP of +1.52% and a Zacks Rank #1.
EnLink Midstream, LLC (ENLC - Free Report) has an Earnings ESP of +18.52% and a Zacks Rank #2. EnLink is set to report first-quarter 2022 results on May 3.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.2% per year. So be sure to give these hand picked 7 your immediate attention.
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Akamai Technologies, Inc. (AKAM - Free Report) is scheduled to report first-quarter 2022 results on May 3, after the closing bell. In the last reported quarter, the company delivered an earnings surprise of 4.9%. It pulled off a trailing four-quarter earnings surprise of 4.4%, on average.
The Cambridge, MA-based company is expected to have recorded year-over-year higher revenues, driven by growth in its security business. Growing demand for cloud infrastructure solutions, mobile products and online video amid high data traffic is favoring its prospects.
During the quarter, Akamai completed the acquisition of Linode, a leading Infrastructure-as-a-service platform provider, for almost $900 million. This combines Linode’s developer-friendly cloud computing capabilities with Akamai’s market-leading edge platform and security services. Together with Linode, Akamai intends to become the world’s most distributed compute platform, from cloud to edge.
The Zacks Consensus Estimate for revenues is pegged at $905 million, which indicates growth of 7.4% from the year-ago quarter’s reported figure. The consensus estimate for adjusted earnings per share is pegged at $1.42, suggesting an increase of 2.9%.
What Our Model Says
Our proven model doesn’t conclusively predict an earnings beat for Akamai this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Akamai’s Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is 0.00%, as both are pegged at $1.42.
Zacks Rank: Akamai currently carries a Zacks Rank #3.
Stocks to Consider
Here are some companies that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this quarter:
Westlake Corporation (WLK - Free Report) is slated to release first-quarter 2022 results on May 3. Westlake has an Earnings ESP of +17.30% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Computer Programs and Systems, Inc. is scheduled to release first-quarter 2022 results on May 3. Computer Programs has an Earnings ESP of +1.52% and a Zacks Rank #1.
EnLink Midstream, LLC (ENLC - Free Report) has an Earnings ESP of +18.52% and a Zacks Rank #2. EnLink is set to report first-quarter 2022 results on May 3.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.2% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>
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