Cloud security and CDN (content delivery network) player Akamai Technologies (NASDAQ:AKAM) seems to have been left behind in what can only be called an enviable rally of the software infrastructure companies. I dare say this even when Akamai itself is trading 30.96% higher on a YTD (year-to-date) basis.

However, these gains look pretty low when we see how competing cloud security and CDN companies have performed in 2020. Peers such as Cloudflare (NET), Limelight Networks (LLNW), and Fastly (FSLY) are up by 113.77%, 90.69%, and 321.08%, respectively, on a YTD basis. Akamai is trading at PS multiple of 6.07x, much lower than the valuation levels of its peers. Here again, Cloudflare and Fastly are trading at staggering PS multiples of 35.45x and 37.74x, respectively. There seems to be no valid reason why Akamai is trading at such a significant discount to its peers, considering the company's scale, profitability, and growth potential.

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