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Fly News Breaks for June 27, 2018
AKAM
Jun 27, 2018 | 08:19 EDT
B. Riley FBR analyst Sameet Sinha reiterated a Buy rating and $99 price target on Akamai Technologies following the company's Annual Investor Summit on Tuesday. In a research note to investors, Sinha said he believes that management's tone at the summit was more "proactive" this year vs. last year, with a focus on cross selling and bundling, better go-to-market and DevOps, which should drive faster growth and reduce the volatility in revenue growth. However, Sinha notes a "cloud looming over shares" as management tweaked guidance to reflect a strong ramp in the USD, but says management-controllable items like efforts to cut costs and garner traffic growth remain on track.
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