Oppenheimer Maintained Perform on Akamai Technologies (AKAM) After Meeting with Management

Oppenheimer maintained a Perform rating on Akamai Technologies (NASDAQ: AKAM) after spending a few days with management. The company believes its products are unique, and it can leverage its network/sales with other services such as identity.

Analyst Timothy Horan commented, "We spent a few days with AKAM's management, and it reinforced our opinion that AKAM is well positioned to take advantage of secular cloud trends. We continue to see spending on future growth opportunities remaining high for the next year, with revenue ramp from broadcast video OTT beginning in 2H16. In this regard, AKAM, uniquely, can enable high-quality broadcast TV over the Internet, a difficult task. Aside from content delivery, AKAM sees the security market as being very healthy and has renewed optimism in its Web acceleration products, having recently replaced the head of that division and completed several wireless trials. Negatively, the short-term competitive landscape is intensifying, as is evident from AMZN's recent purchase of Element Technologies/LVLT and VZ's CDN ramp."

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 $73.35 yesterday.

You May Also Be Interested In

• Citi Opens 90-Day Upside Catalyst Watch on Akamai Technologies (AKAM)
• CACI International (CACI) PT Raised to $440 at Stifel
• Akamai's API Security Product Achieves PCI Compliance and Sees Tremendous Customer Growth