Wedbush Reiterates Outperform Rating On Akamai Technologies

According to Wedbush, Akamai Technologies

Outperform rating is reiterated. Wedbush said that April page view growth exceeded expectations, which could translate into 2Q11 Commerce revenue upside. “April page views increased 8% YoY, above our expectations for a 1% decline. The April upside revises our 2Q11 page view growth estimate to 4% YoY, above our expectations for a 4% YoY decline. Given our estimate for a 4% YoY decline in Commerce revenue, we believe the strong April page-view growth could translate into ~$5 million in 2Q11 revenue upside if April trends are sustained through the quarter. Quarterly Commerce revenue and page view growth have been ~94% correlated over the previous eight quarters.” Akamai Technologies closed yesterday at $29.72.