NEW YORK (TheStreet) --Increasing concerns regarding cyber security have been riddled throughout this year's election process. With just five days left until America chooses its next President, threats of Internet hacks originating from foreign countries, with the potential to leak classified information, have become a major talking point.
Akamai Technologies (AKAM) is one company working to defend against the threat of cyber-attacks. The Cambridge, MA-based cloud services provider boasts 216K+ servers in over 120 countries.
"We have developed really good security defense for the major websites to defend them against the ever-increasing attacks," Akamai CEO Tom Leighton said during Thursday morning's "Squawk Box" on CNBC.
In fact, Akamai's security business alone is growing 46% year-over-year and Leighton said its directly correlated with more and more devices come online.
"I think there's a lot of awareness now about the vulnerabilities especially as you see all these devices that are coming online with the Internet of Things, that aren't really secure and can be exploited," he explained.
The "traditional" way of defending an enterprise just does not work anymore, Leighton added. "Now you need your security in the cloud and security defense to be out where the attackers are."
Shares of Akamai were higher in early morning trading on Thursday.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, growth in earnings per share and increase in net income.