$AKAM

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Akamai's Mega Computing Deal to Boost Revenue Amid Margin Concerns, UBS Says

Akamai Technologies' (AKAM) new $1.8 billion customer contract for computing services should help accelerate revenue growth, UBS Securities said in a note on Friday, even though the brokerage is skeptical about the deal's impact on margins and profitability.The seven-year contract with an unnamed "leading frontier model company" is the largest customer deal in the cloud services provider's history, Chief Executive Tom Leighton said during an earnings conference call on Thursday, according to a FactSet transcript.Akamai expects to start recognizing revenue against the contract in the fourth quarter, at $20 million to $25 million, Chief Financial Officer Ed McGowan told analysts. The company will spend $800 million to $825 million in capital expenditures over the next 12 months to support the new deal.Bloomberg News identified that customer as Anthropic, citing people familiar with the matter.Shares of Akamai soared about 27% at market close on Friday, and are up nearly 70% year to date."While we appreciate the large deal momentum and (revenue) growth acceleration, we're less confident in corresponding bottom-line growth," UBS analyst Roger Boyd wrote in the note.Akamai late Thursday raised the lower end of its full-year revenue guidance to $4.445 billion from $4.40 billion, leaving the top end of the outlook unchanged at $4.55 billion. The company raised the cloud infrastructure services outlook to at least 50% year-over-year growth at constant currencies. Analysts polled by FactSet expect $4.49 billion in consolidated revenue.Akamai lowered its full-year adjusted operating margin guidance to 26% from a prior outlook that called for 26% to 28%. UBS attributed that to upfront scaling costs and lower-margin new mega deals.The company is willing to accept cloud infrastructure services deals that are below its 30% medium-term margin target, Boyd said. Meanwhile, additional capital spending will push free cash flow close to breakeven or into negative territory in 2026, he said.The brokerage raised its price target on Akamai's stock to $160 from $110 and reiterated its neutral rating.The company said late Thursday its first-quarter adjusted earnings per share declined to $1.61 from $1.70 a year earlier, while revenue increased 6% to $1.07 billion. These were largely in line with consensus estimates on FactSet."Investor enthusiasm around the cloud infrastructure space could outweigh margin concerns (near term)," Boyd said.

$AKAM

Japan128d ago

US Equity Markets End Higher Led by Technology Sector, Nonfarm Payrolls Data

US equity indexes ended higher on Friday, with the technology sector posting big gains and positive employment data amid reports that the US struck Iranian tankers while awaiting a response to its peace proposal.* The US expects a response from Iran on a proposal to end the war on Friday, Secretary of State Marco Rubio said, adding he hopes "it's a serious offer," CNN reported.* Nonfarm payrolls rose by 115,000 last month, the Bureau of Labor Statistics said Friday, beating the 65,000 gain expected in a Bloomberg-compiled survey.* US consumer sentiment continued to fall in May, with the main sentiment index dropping to an all-time low of 48.2 from April's 49.8, according to the University of Michigan's preliminary survey on Friday.* June West Texas Intermediate crude oil rose $0.05 to settle at $94.86 per barrel, while July Brent crude, the global benchmark, was last seen up $0.48 at $100.60.* Akamai Technologies (AKAM) shares were up roughly 27%, the biggest gainer on the S&P 500, after the company reported Q1 non-GAAP net income above market expectations and higher revenue. Anthropic also signed a $1.8 billion computing deal with Akamai to help meet surging demand for its artificial intelligence systems, Bloomberg reported Friday.* Mettler-Toledo International's (MTD) shares were down nearly 15%, the steepest decline on the S&P 500, after Citigroup adjusted its price target to $1,550 from $1,700 a share, and Evercore ISI lowered its price objective for the company to $1,300 from $1,425 a share, with both cuts following Mettler-Toledo's Q1 results overnight.

Dow JonesNasdaq CompositeS&P 500$AKAM$MTD

Sectors128d ago

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 3.2% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 5.3%.The Philadelphia Semiconductor index rose 5.2%.In corporate news, Amazon-backed (AMZN) Anthropic has signed a $1.8 billion computing deal with Akamai Technologies (AKAM), a cloud services provider, to help meet surging demand for its AI software, Bloomberg reported. Akamai shares surged 26%, and Amazon added 0.8%.Apple (AAPL) and Intel (INTC) have reached a preliminary agreement under which Intel will make some of the chips powering Apple devices, The Wall Street Journal reported Friday. Apple shares rose 2.2%, and Intel jumped past 13%.Apple and Meta Platforms (META) have publicly opposed a Canadian bill that could require them to break the encryption of their devices and services, Reuters reported. Canada's ruling Liberal Party proposed Bill C-22, which law enforcement officials claim would help them probe security threats earlier and take immediate action, the report said. Meta was down 1.1%.Hedge fund TCI cut its stake in Microsoft (MSFT) to 1% of its portfolio at the end of March from 10% at the end of last year, the Financial Times reported. Microsoft shares shed 1.5%.

$AAPL$AKAM$AMZN$INTC$META$MSFT

Wire128d ago

Update: Market Chatter: Anthropic Signs $1.8 Billion Computing Deal with Akamai Technologies

(Updates with Akamai Technologies' reply to a request for comment.)Amazon-backed (AMZN) Anthropic has signed a $1.8 billion computing deal with Akamai Technologies (AKAM), a cloud services provider, to help meet surging demand for its artificial intelligence software, Bloomberg reported Friday, citing people familiar with the matter.Akamai declined to comment to, while Anthropic didn't immediately respond to a request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $272.42, Change: $+1.25, Percent Change: +0.46%

$AKAM$AMZN

Wire128d ago

Market Chatter: Anthropic Signs $1.8 Billion Computing Deal with Akamai Technologies

Amazon-backed (AMZN) Anthropic has signed a $1.8 billion computing deal with Akamai Technologies (AKAM), a cloud services provider, to help meet surging demand for its artificial intelligence software, Bloomberg reported Friday, citing people familiar with the matter.Anthropic and Akamai didn't immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $272.45, Change: $+1.28, Percent Change: +0.47%

$AKAM$AMZN

Wire128d ago

Top Midday Gainers

Innodata (INOD) reported strong Q1 results with "massive beats" while raising its 2026 sales growth outlook to about 40% year-over-year amid significant demand for its AI products, Wedbush Securities said in a note Friday.Shares surged 84% as intraday trading volume soared to over 16.4 million from a daily average of roughly 1.01 million.Akamai Technologies (AKAM) reported Q1 non-GAAP net income above market expectations as sales rose. Chief Executive Tom Leighton said a US-based entity committed $1.8 billion over seven years for the company's cloud infrastructure services.Shares jumped 25%, with intraday trading volume of over 14.2 million from a daily average of about 5.12 million.Monster Beverage (MNST) offers "outsized" long-term growth potential after reporting "very strong" Q1 and April performance, Morgan Stanley said in a Friday note.Shares of Monster Beverage advanced 16% as intraday trading volume rose to over 5.81 million from a daily average of about 5.55 million.Price: $84.43, Change: $+38.79, Percent Change: +84.99%

$AKAM$INOD$MNST

Wire128d ago

Goldman Sachs Adjusts Price Target on Akamai Technologies to $87 From $76, Maintains Sell Rating

Akamai Technologies (AKAM) has an average rating of overweight and mean price target of $144.04, according to analysts polled by FactSet.Price: $146.04, Change: $+29.35, Percent Change: +25.15%

$AKAM

Wire128d ago

Anthropic Signs $1.8 Billion Computing Deal With Akamai Technologies, Bloomberg Reports

$AKAM$AMZN

Asia Markets128d ago

Technology Leads US Equity Indexes Higher Amid Strong Payrolls Growth

US equity indexes traded mixed midday Friday as technology topped sector charts and nonfarm payrolls grew almost twice as fast as expected, and Washington struck Iran's oil tankers while awaiting its peace proposal.The Nasdaq jumped 1.5% to 26,191.5 after touching a record 26,192.09 intraday. The S&P 500 climbed 0.8% to 7,397.2 after hitting an all-time high of 7,400.09 earlier in the session. The Dow Jones Industrial Average edged up less than 0.1% to 49,638.2.After technology, which advanced 2.5%, consumer discretionary and materials were the second-biggest gainers. Healthcare led the decliners.Nonfarm payrolls rose by 115,000 last month, the Bureau of Labor Statistics said Friday, beating the 65,000 gain expected in a Bloomberg-compiled survey. The increase in March was revised up by 7,000 to 185,000, while the fall in February was adjusted to 156,000 from 133,000, the BLS said."Payrolls were volatile through (the first quarter), largely due to temporary factors like inclement weather and a healthcare strike in California," Thomas Feltmate, senior economist at TD Economics, said in a report. "With those effects now in the rearview mirror, April provided as the first 'clean' read on hiring for 2026 and the underlying details were reasonably constructive, despite the recent surge in energy prices."US consumer sentiment continued to fall in May, with the main sentiment index dropping to an all-time low of 48.2 from April's 49.8, according to the University of Michigan's preliminary survey on Friday. The print marked the third consecutive monthly retreat. Wall Street expected a 49.5 print, according to a Bloomberg-compiled poll.The year-ahead inflation outlook dropped to 4.5% this month from 4.7% in April, according to the Michigan survey. The current outlook is still above the 3.4% reading reported in February, before the start of the Iran war. The five-year inflation forecast fell to 3.4% from 3.5%.Most US Treasury yields fell, with the 10-year down three basis points to 4.36% and the two-year rate lower by 2.2 basis points to 3.90%.In Middle East news, the US expects a response from Iran on a proposal to end the war on Friday, Secretary of State Marco Rubio said, adding he hopes "it's a serious offer," CNN reported.Meanwhile, US forces disabled two Iranian-flagged unladen oil tankers on Friday that were attempting to dock at an Iranian port on the Gulf of Oman in violation of the US blockade, US Central Command said in a social media post on X, formerly Twitter. According to President Donald Trump, a ceasefire is still in effect, CNN reported.West Texas Intermediate crude oil futures rose 1.1% to $95.84, and Brent crude futures increased 1.3% to $101.32.In precious metals, gold futures advanced 0.4% to $4,730.1, and silver futures climbed 1% to $80.96.In company news, Akamai Technologies (AKAM) reported Q1 non-GAAP net income above market expectations as sales rose. Chief Executive Tom Leighton said a US-based entity committed $1.8 billion over seven years for the company's cloud infrastructure services. Shares of Akamai soared 22%, the top gainer on the S&P 500.Monster Beverage (MNST) offers "outsized" long-term growth potential after reporting "very strong" Q1 and April performance, Morgan Stanley said in a Friday note. Shares of Monster Beverage surged 15%, among the biggest outperformers on the S&P 500 and the Nasdaq.

Dow JonesNasdaq CompositeS&P 500$AKAM$MNST

Sectors128d ago

Sector Update: Tech Stocks Gain Friday Afternoon

Tech stocks were higher Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 3.1% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 4.7%.The Philadelphia Semiconductor index gained 5.1%.In corporate news, Apple (AAPL) and Intel (INTC) have reached a preliminary agreement under which Intel will make some of the chips powering Apple devices, The Wall Street Journal reported Friday. Apple shares rose 1.8%, and Intel jumped past 15%.Akamai Technologies (AKAM) shares surged 20% after the company reported Q1 results and Chief Executive Tom Leighton said a US-based frontier model provider has committed $1.8 billion over seven years for the company's cloud infrastructure services.Hedge fund TCI cut its stake in Microsoft (MSFT) to 1% of its portfolio at the end of March from 10% at the end of last year, the Financial Times reported. Microsoft shares shed 1.1%.

$AAPL$AKAM$INTC$MSFT

Sectors128d ago

Sector Update: Tech

$AKAM

Research128d ago

Research Alert: CFRA Maintains Hold Rating On Shares Of Akamai Technologies Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We maintain our Hold recommendation on shares of AKAM, but increase our target price to $159, from $121, on a forward P/E of 22x our 2027 EPS projection of $7.21. We adjust our 2026 EPS forecast to $6.92 from $6.91, but trim our 2027 EPS projection to $7.21 from $7.63. AKAM reported Q1 2026 revenue of $1.074B, up 6% Y/Y (4% constant currency), with Cloud Infrastructure Services delivering exceptional 40% Y/Y growth to $95M, accelerating from 39% in Q4 2025. Security revenue grew 11% Y/Y to $590M, while Delivery declined 7%. AKAM announced a notable $1.8B CIS deal with a leading U.S.-based frontier model provider over seven years, which we view as a significant win amid competition, and we also see the potential for more pipeline conversions ahead. However, the trade off is lower margins and a significant ramp in capex expectations for the full-year, now 40% to 42% of sales. While we like the growth opportunity, we think current valuation is less attractive and look for a better entry point.

$AKAM

Wire128d ago

RBC Capital Lifts Akamai Technologies Price Target to $150 From $100, Maintains Sector Perform Rating

Akamai Technologies (AKAM) has an average rating of overweight and mean price target of $144.04, according to analysts polled by FactSet.Price: $139.99, Change: $+23.30, Percent Change: +19.96%

$AKAM

Wire128d ago

JPMorgan Adjusts Price Target on Akamai Technologies to $100 From $72

Akamai Technologies (AKAM) has an average rating of overweight and mean price target of $144.05, according to analysts polled by FactSet.Price: $139.82, Change: $+23.13, Percent Change: +19.82%

$AKAM

Wire128d ago

UBS Raises Price Target on Akamai Technologies to $160 From $110, Maintains Neutral Rating

Akamai Technologies (AKAM) has an average rating of overweight and mean price target of $144.05, according to analysts polled by FactSet.Price: $141.42, Change: $+24.73, Percent Change: +21.19%

$AKAM

Research128d ago

Craig Hallum Upgrades Akamai Technologies to Buy, $190 Price Target

Akamai Technologies (AKAM) has an average rating of overweight and mean price target of $141.77, according to analysts polled by FactSet.

$AKAM

Research129d ago

Research Alert: Akam: Raised Guidance Overshadows Modest Q1 Performance

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:AKAM delivered mixed Q1 results with revenue of $1.074B (+6% Y/Y) in line with expectations and non-GAAP EPS of $1.61 (down 5% Y/Y) beating consensus by $0.01. Growth was led by Cloud Infrastructure Services at $95M (+40% Y/Y) and Security at $590M (+11% Y/Y), while Delivery declined 7% Y/Y to $389M. The company secured a landmark $1.8B seven-year Cloud Infrastructure Services commitment from a leading U.S. frontier model provider, validating AKAM's positioning in AI infrastructure. Management raised 2026 revenue guidance to $4.445-4.550B (7-8% growth) from prior $4.400-4.550B, while maintaining 26% non-GAAP operating margin outlook. We expect the major AI infrastructure deal to drive sustained momentum in Cloud Infrastructure Services over the contract period. Operating margin compression to 26% (down 4pp Y/Y) reflects necessary growth investments in AI and cloud infrastructure that we believe position AKAM well for the evolving market landscape.

$AKAM

Wire129d ago

Akamai Technologies Q1 Non-GAAP Earnings Fall, Revenue Rises; Q2 Guidance Set, 2026 Outlook Adjusted

Akamai Technologies (AKAM) reported Q1 non-GAAP net income late Thursday of $1.61 per diluted share, down from $1.70 a year earlier.Analysts polled by FactSet expected $1.60.Revenue for the three months ended March 31 rose to $1.07 billion from $1.02 billion a year earlier.Analysts surveyed by FactSet expected $1.07 billion.The company expects fiscal Q2 non-GAAP EPS of $1.45 to $1.65 on revenue of $1.08 billion to $1.10 billion. Analysts polled by FactSet expect $1.68 and $1.10 billion, respectively.For full year 2026, the company expects non-GAAP EPS of $6.40 to $7.15 on revenue of $4.45 billion to $4.55 billion, compared with previous EPS guidance of $6.20 to $7.20 on revenue of $4.40 billion to $4.55 billion.Analysts surveyed by FactSet expect $6.86 and $4.48 billion, respectively.

$AKAM

Wire143d ago

Akamai Technologies Expected to Deliver Q1 Top-Line Beat, Oppenheimer Says

Akamai Technologies (AKAM) is expected to deliver a Q1 top-line beat, with revenue at the high end of guidance, led by average contract size rising by mid-single digits year over year, Oppenheimer said Thursday.The larger contracts are driven by increased adoption of Guardicore and Noname security modules and cloud infrastructure capabilities. Oppenheimer expects Guardicore uptake to grow at least 25% and Noname 65% in 2026, driving at least 10% growth for the security portfolio.The agentic web offers a notable opportunity for Akamai. The company's API security is considered "best in class" and gives it an edge in multi-content delivery network environments. Separately, both delivery and compute should benefit from the proliferation of agents, according to the note.Given underlying business strength, recent price hikes, and a potential second-half agentic AI boost, Akamai can easily achieve the high end of its full-year revenue guide of 8%, and accelerate to 9%-to-10% growth by Q4, the investment firm said.The company is set to report Q1 results on May 7.Oppenheimer maintained an outperform rating on Akamai and raised the price target to $130 from $115.Price: $95.48, Change: $-1.63, Percent Change: -1.68%

$AKAM

Wire143d ago

Oppenheimer Adjusts Akamai Technologies Price Target to $130 From $115, Maintains Outperform Rating

Akamai Technologies (AKAM) has an average rating of overweight and mean price target of $113.52, according to analysts polled by FactSet.Price: $93.65, Change: $-3.46, Percent Change: -3.56%

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