Fannie Mae, Freddie Mac shares tumble after conservatorship comments
CAMBRIDGE, Mass. - Akamai Technologies, Inc. (NASDAQ: AKAM) unveiled its latest cybersecurity innovation, App & API Protector Hybrid, designed to enhance web application firewall (WAF) capabilities and provide consistent security across diverse environments, including multicloud, on-premises, and CDN-agnostic infrastructures.
The product aims to address the challenges security leaders face in protecting applications dispersed across various platforms while maintaining efficiency, visibility, and cost-effectiveness. App & API Protector Hybrid allows organizations to standardize WAF protections, reduce the operational overhead by consolidating security management, and support cloud transformations without compromising security.
According to Akamai, the solution is engineered to protect against sophisticated threats targeting applications, APIs, microservices, and workloads. It offers resilience, scalability, and simplified security management, aligning with Akamai's goal of enabling consistent security for applications, data, and APIs, irrespective of their location. Despite recent market challenges, with the stock down over 33% in the past six months, InvestingPro analysis shows the company maintains strong profitability and positive earnings forecasts. For detailed insights and 12 additional ProTips about Akamai's market position, visit InvestingPro.
Rupesh Chokshi, Senior Vice President and General Manager of Application Security at Akamai, emphasized the product's significance in the current landscape where customer environments are increasingly distributed. "Akamai App & API Protector Hybrid gives our customers the ability to protect their applications in any environment without compromising on security," Chokshi stated. He highlighted the solution's role in simplifying security challenges and allowing Application Security teams to concentrate on business expansion.
Akamai is recognized for its cybersecurity and cloud computing solutions, providing defense in depth to safeguard enterprise data and applications globally. The company's comprehensive cloud computing solutions are known for delivering performance and affordability on one of the world's most distributed platforms.
This announcement is based on a press release statement from Akamai Technologies, Inc. Investors seeking comprehensive analysis can access Akamai's full Pro Research Report, along with those of 1,400+ other top US stocks, exclusively on InvestingPro.
In other recent news, Akamai Technologies has been active with several notable developments. The company announced a multi-year agreement to host kernel.org, enhancing the Linux kernel's stability and security. This partnership is part of Akamai's commitment to the open-source community, supporting Linux developers with essential infrastructure services. Additionally, Akamai launched Cloud Inference, aimed at improving AI applications' efficiency by leveraging its global cloud platform, which includes partnerships with Nvidia and VAST Data to optimize AI performance. In another significant move, Akamai introduced Cloud Accelerated Compute Instances powered by NETINT VPUs, marking a first in cloud offerings for efficient media transcoding.
On the financial side, Oppenheimer has assumed coverage of Akamai with an Outperform rating and a new price target of $100, reflecting optimism about the company's growth in its Security and Compute portfolio. Meanwhile, Guggenheim reaffirmed its Buy rating with a $133 price target, expressing confidence in Akamai's expansion into Security and Cloud solutions. These developments highlight Akamai's strategic efforts to enhance its technology offerings and financial performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.