Yahoo Finance Akamai (AKAM) Upgrades Security Service to Boost Cyber Defense
Akamai Technologies, Inc. AKAM recently launched an enhanced security service with new premium features to strengthen protection against evolving cyber threats. The updated version will include greater assistance from Akamai experts including technical advisory hours with engagement managers and support delivery managers with Off-hours configuration assistance and quarterly customer business assessments. Pricing packages for various services and configurations are also reduced.
Premium offerings include better monitoring from Akamai’s Security Operations Control Center (SOCC), which allows rapid action from SOCC experts in case of a security breach. The premium service also gives customers 24/7 access to SOCC with proactive communications and evaluation, enabling solution deployment according to customer-specific requirements.
With the increasing pace of digital transformation worldwide, instances of cyber threats are also rising. Attackers continually refine their strategies and create more advanced tactics to breach cybersecurity. Without the most advanced cyber defense solution enforced in the system, enterprise data that might consist of sensitive financial, medical customer information or national security information is under serious risk of being compromised.
Akamai’s internal research suggests a 257% surge in web apps and API attacks, an 81% rise in bot activity that could cause credential stuffing, and a 22% jump in DDoS (distributed denial of service) targets year over year. With this recent innovation in managed security service, Akamai aims to mitigate this threat that could seriously impede and disrupt business activities.
Cybersecurity is an area that holds a lot of promise for Akamai. With the rapid adoption of cloud computing, security has become a major concern for enterprises. Hackers are using new and sophisticated techniques to take advantage of the security loopholes of the cloud. Large enterprises are expected to increase their security budgets to address security concerns and instill confidence in cloud computing. Demand for Akamai’s security solutions will translate into significant growth opportunities over the long term. The company’s security offerings are poised to gain from higher demand for data computing at the edge, triggered by the rapid deployment of 5G and IoT device proliferation.
Akamai is a leading provider of content delivery network (CDN) services, as its platform handles approximately two trillion web interactions daily. Its solutions help customers address the challenges of bandwidth constraints and Internet traffic while reducing the need for additional hardware to manage traffic loads. Software distribution is important in bolstering the business as the company benefits from rapid growth in Internet-based distribution of applications, operating system software and online game software.
Shares of the company have lost 35.2% in the past year compared with the industry’s decline of 24.1%.
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Akamai currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Arista Networks, Inc. ANET, sporting a Zacks Rank #1, delivered an earnings surprise of 14.17%, on average, in the trailing four quarters. Earnings estimates for ANET for the current year stand at $5.85 per share. Arista provides cloud networking solutions for data centers and cloud computing environments. The company offers 10/25/40/50/100 Gigabit Ethernet switches and routers optimized for next-generation data center networks.
It continues to benefit from strong momentum and diversification across its top verticals and product lines. The company has a software-driven, data-centric approach to help customers build their cloud architecture and enhance their cloud experience. It is well-poised for growth in data-driven cloud networking business with proactive platforms and predictive operations. Arista has introduced network observability software, DANZ Monitoring Fabric (DMF), on its switching platforms for enterprise-wide traffic visibility and contextual insights.
International Business Machines Corporation IBM, carrying a Zacks Rank #2 (Buy), delivered an earnings surprise of 1.69%, on average, in the trailing four quarters. IBM is a pioneer and undisputed leader when it comes to providing blockchain technology. The company is poised to benefit from the robust adoption and broad-based availability of IBM Blockchain World Wire — a blockchain-driven global payments network. The network is aimed at accelerating and optimizing cross-border payments.
IBM is poised to benefit from strong demand for hybrid cloud and AI, driving growth in Software and Consulting. The company’s growth is expected to be driven primarily by analytics, cloud computing, and security in the long haul.
Juniper Networks, Inc. JNPR, carrying a Zacks Rank #2, delivered an earnings surprise of 1.55%, on average, in the trailing four quarters. It is witnessing strong momentum across its core industry verticals and is confident of its long-term prospects. Investments in customer solutions and sales organizations have enabled the company to capitalize on the solid demand across end markets.
Juniper is a leading provider of networking solutions and communication devices. The company develops, designs and sells products that help build a network infrastructure for services and applications based on a single Internet protocol network worldwide. The company caters to the networking needs of enterprises, public sector organizations and service providers across the globe.
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