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Akamai could see soccer lift
Posted 06/11/2014 06:57 PM ET
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The biggest content delivery network, or CDN, services to media and entertainment companies should see a Q2 revenue and earnings boost from online video streaming of soccer's World Cup this week, Oppenheimer said. Akamai Technologies (NASDAQ:AKAM) will also see a longer-term gain from Microsoft's (NASDAQ:MSFT) refocus on its Xbox One gaming console, the report said. Akamai's global network of computer servers stores copies of website content for quick delivery to end users. Akamai shares rose 0.3% to 58.30.
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B. Riley Upgrades Akamai Technologies (AKAM) to Buy
7:25 AM ET, 04/10/2014 - Street Insider
B. Riley upgraded Akamai Technologies (NASDAQ: AKAM) from Neutral to Buy. For an analyst ratings summary and ratings history on Akamai Technologies click here. For more ratings news on Akamai Technologies click here. Shares of Akamai Technologies closed at $55.18 yesterday.
Akamai, Cisco Partnership Eyed; Apple Worries Fade
By REINHARDT KRAUSE, INVESTOR'S BUSINESS DAILY
Posted 03/26/2014 11:59 AM ET
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Akamai Technologies (AKAM) is expected to start seeing revenue from a new partnership with Cisco Systems (CSCO) kick in later this year, as Akamai pushes further into hybrid private-public cloud computing services for large companies.
At its annual investor day on Tuesday, Akamai left its Q1 guidance unchanged. Cambridge, Mass.-based Akamai reiterated its goal of growing revenue to $5 billion in 2020, up from $1.6 billion in 2013.
"Management continued to be optimistic on the market potential, as new product categories such as security, network operator and hybrid cloud optimization are expected to help Akamai reach its target revenue goal of $5 billion in 2020," Jim Breen, a William Blair & Co. analyst, said in a research report Wednesday.
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Akamai's software runs on Cisco's network routers, under the partnership.
"The Cisco partnership will allow Akamai to expand its platform into corporate branch offices in a more expansive manner than with the Riverbed (RVBD), as Cisco has a greater presence and its routers are priced more attractively than the Riverbed equipment," said Breen. "Sales with Cisco are expected to begin in the second half of 2014."
Akamai stock edged up a fraction in morning trading in the stock market today, near 58. Akamai stock touched a 13-year-plus high of 63.15 on Feb. 28.
Akamai is the biggest provider of content delivery network, or CDN, services to media and entertainment companies. Akamai has been adding sales staff, aiming to sell security and cloud products to corporate customers.
Greg Miller, an analyst at Canaccord Genuity, raised his price target on the stock to 68 from 63 on Wednesday.
* Akamai Technologies : Canaccord Genuity raises target to $68 from $63; rating buy
* Akamai Technologies Inc : CLSA raises target price to $70 from $66; rating buy