Akamai Technologies (AKAM) closed the most recent trading day at $100.11, moving +0.47% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 0.4%. On the other hand, the Dow registered a gain of 0.62%, and the technology-centric Nasdaq increased by 0.6%.

Shares of the cloud services provider witnessed a loss of 0.44% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 0.91% and the S&P 500's gain of 1.71%.

The investment community will be paying close attention to the earnings performance of Akamai Technologies in its upcoming release. The company is predicted to post an EPS of $1.59, indicating a 2.45% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1 billion, indicating a 3.62% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates project earnings of $6.43 per share and a revenue of $4 billion, demonstrating changes of +3.71% and +4.84%, respectively, from the preceding year.

Investors might also notice recent changes to analyst estimates for Akamai Technologies. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.26% higher. Akamai Technologies is currently a Zacks Rank #3 (Hold).

With respect to valuation, Akamai Technologies is currently being traded at a Forward P/E ratio of 15.51. For comparison, its industry has an average Forward P/E of 30.63, which means Akamai Technologies is trading at a discount to the group.

We can additionally observe that AKAM currently boasts a PEG ratio of 2.2. 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. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 1.9.