Quick Win by the Algorithm

Akami Technologies, Inc. (AKAM)

On October 23, 2016, the I Know First algorithm gave a bullish signal of 20.57 for the ticker AKAM with a predictability indicator of 0.06. In accordance with the I Know First algorithm, AKAM developed into a quick win with a 17.39% return in only 3 days.

Akami Technologies, Inc. (NASDAQ: AKAM) is a cloud service company focusing on delivering, optimizing and securing content and business applications over the Internet. Founded in 1998 and headquartered in Cambridge, Massachusetts, the company is a leader in content delivery network. Along with offering NetStorage, a cloud storage solution, the company strives to provide secure cloud computing and reliable delivery of media or data at an affordable price. Besides cloud security and support, the company as well offers optimization solutions to maximize traffic growth for client’s website.

On October 25, 2016 after the market closed, Akami announced its third quarter earnings. The report exceeded expectations. Akami reported earnings per share of $0.68, surpassing analysts estimates of $0.61 earnings per share. That is approx. a 10% increase. The earnings disclosed revenue as $584 million, a 6% increase from last year’s report. Despite reporting a decrease in its revenue from media delivery solutions by 14% or year over year, its other services saw increases. Cloud Security Services rose impressively by 46% to $95 million from its previous report a year ago. The company also saw revenue rise in its performance and security solutions by 19% to $345 million from a year ago. In addition, revenue in its services and support solution increased by 17% to $51 million from a year ago. As a result, the stock closed higher by 14.61% to $67.70 at the market’s close the next trading day.

This bullish forecast on AKAM was sent to current I Know First subscribers on October 23, 2016.

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.

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