11 Undervalued Quantum Computing Stocks to Invest In

7. Akamai Technologies, Inc. (NASDAQ:AKAM)

Forward P/E: 11.80

On April 14, Akamai Technologies, Inc. (NASDAQ:AKAM) was initiated with an Outperform rating and a $130 price target by Evercore ISI, with the firm emphasizing the company’s successful transformation from a traditional content delivery network (CDN) provider into a higher-growth security and cloud platform. The analyst highlighted that security and cloud services now account for approximately two-thirds of Akamai’s revenue and are growing at double-digit rates, suggesting that the company’s evolving business mix is not fully reflected in its current valuation. This shift marks a critical inflection point, as Akamai moves further away from legacy CDN services toward more strategic, higher-margin offerings.

On April 7, Akamai Technologies, Inc. (NASDAQ:AKAM) expanded its partnership with Arrow Electronics to enhance the distribution of its cloud, security, and application delivery solutions across Arrow’s enterprise ecosystem. This collaboration allows Akamai to reach a broader customer base while enabling faster deployment of enterprise-grade solutions. As businesses increasingly rely on distributed infrastructure and secure digital experiences, such partnerships play a key role in scaling go-to-market capabilities and accelerating adoption.

Akamai Technologies, Inc. (NASDAQ:AKAM) was founded in 1998 and is headquartered in Cambridge, Massachusetts. The company operates one of the world’s largest distributed edge networks; its platform powers and secures digital experiences for enterprises globally, ensuring performance, reliability, and security. With its strategic pivot toward cloud computing and cybersecurity, Akamai is well-positioned to capitalize on long-term trends in edge computing and digital transformation, supporting a compelling growth outlook.