CAMBRIDGE, Mass. - Akamai Technologies, Inc. (NASDAQ: NASDAQ:AKAM), a global cloud services provider, announced today that it has received the ISO 14001 attestation for its environmental management system across the Akamai Connected Cloud. This certification is recognized internationally and signifies that the company meets rigorous environmental performance standards.
ISO 14001 is a framework that guides companies in developing an effective environmental management system (EMS). Compliance with these standards indicates that Akamai is actively working to minimize its environmental impact, adhere to applicable laws, achieve its environmental objectives, and seek continuous improvement in these areas.
Mike Mattera, Akamai's director of corporate sustainability and ESG officer, stated, "Achieving ISO 14001 environmental management system attestation is testament to Akamai's unwavering commitment to environmental excellence." He emphasized the company's role as a leader in the internet ecosystem and its dedication to reducing environmental impacts through its 2030 goals.
The company's EMS encompasses efforts to manage environmental risks and opportunities throughout its value chain, including regular tracking, monitoring, measuring, and reporting activities to meet the ISO 14001 standard and reach its long-term environmental objectives.
This attestation aligns with Akamai's broader sustainability program and underscores the company's strategic approach to environmental stewardship. Akamai is known for providing cloud computing, security, and content delivery solutions, and this achievement adds to its reputation as a responsible corporate citizen.
Investors and stakeholders may view this development as a positive step in Akamai's commitment to sustainability and responsible business practices. The company's adherence to the ISO 14001 standard could also enhance its competitive advantage in the market by demonstrating its proactive approach to environmental management.
The information in this article is based on a press release statement from Akamai Technologies, Inc.
In other recent news, Akamai Technologies has reported strong second quarter results for 2024, exceeding expectations and leading to an increase in its overall guidance for revenue, EBITDA, and Non-GAAP EPS for the year. The company also acquired Noname Security, a leading API security company, for approximately $450 million, a move expected to enhance Akamai's capabilities in the API security domain. Scotiabank maintained a positive outlook on Akamai, reiterating a Sector Outperform rating with a steady price target of $115.00. Other firms including Citi, DA Davidson, RBC Capital, TD Cowen, and Guggenheim also adjusted their price targets on Akamai's stock, reflecting a general confidence in the company's strategic direction and potential for growth. These are recent developments that highlight shifts in Akamai's strategic direction and growth potential in key business areas.
InvestingPro Insights
Akamai Technologies, Inc. (NASDAQ: AKAM) has not only made strides in sustainability with its recent ISO 14001 attestation but also exhibits a promising financial profile according to the latest data. The company's market capitalization stands at a robust $15.08 billion, reflecting its significant presence in the industry. With a P/E ratio of 23.91 and a slightly adjusted P/E ratio for the last twelve months as of Q2 2024 at 23.62, Akamai shows a balance between its share price and earnings.
One of the InvestingPro Tips highlights that Akamai's management has been actively engaging in share buybacks, a move that often indicates confidence in the company's future performance and could lead to an increase in shareholder value. Additionally, the company is trading at a low P/E ratio relative to its near-term earnings growth, suggesting that its stock might be undervalued given its growth prospects.
The financial strength of Akamai is further supported by its revenue growth, which has been reported at 7.26% over the last twelve months leading up to Q2 2024. This steady growth trajectory is an important factor for investors considering the company's potential for sustained success.
For readers interested in a deeper dive into Akamai's financials and strategic outlook, InvestingPro offers additional tips and metrics on their platform, with a total of 19 analysts having revised their earnings estimates upwards for the upcoming period, indicating a positive sentiment around the company's earnings potential.
For those who prioritize investing in companies with a commitment to sustainability, Akamai's recent environmental certification coupled with its solid financials may present an attractive opportunity. The company's proactive approach to environmental management and its strategic business practices could provide a competitive edge in the market.
Explore more in-depth analysis and get further InvestingPro Tips for Akamai Technologies at InvestingPro.
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