Brigantine Advisors Reiterates a 'Buy' on Akamai Technologies (AKAM); Raises PT
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Brigantine Advisors reiterates a 'Buy' on Akamai Technologies (Nasdaq: AKAM), raises price target by $1 to $26.
Brigantine analyst says, "Akamai’s September quarter results were above our and consensus expectations, as was forward guidance. The aggressive competitive pricing strategy deployed last quarter to lock in customers appears to be paying off as the economy recovers and the quantity of bits increases. With value-added software reaching 50% of total revenue, gross margins remain at historical levels and are offsetting bit-pricing declines. We believe the company’s network-at-the-edge rchitecture remains a clear competitive advantage, positioning the company well for the ramp in HD bit flow. We believe over the next 12 months, as the economy continues to strengthen, competitors exit the business, and new internet business models take hold (HD) Akamai is ideally positioned to return to a strong growth trajectory."
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Akamai Technologies, Inc. provides services for accelerating and improving the delivery of content and applications over the Internet.
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