Oppenheimer Introducing Quarterly Estimates On Akamai Technologies

In a report published by Oppenheimer, it's introducing 2011 quarterly estimates on Akamai Technologies (NASDAQ: AKAM).

Oppenheimer said that it is introducing its 2011E quarterly EPS (FY2011 remains unchanged) and FY2012E EPS (which it has lowered). “AKAM reported strong 4Q10 results on Feb. 10 but issued guidance below consensus expectations. Management maintains LT revenue growth target of 15%+; however, pricing pressures in the CDN business make that difficult to achieve and we expect investor disappointment on 2Q11 results. As seen in wireless and voice-transit businesses, customers welcome competition and LVLT and other start ups are more than happy to provide it. We remain on the sidelines as we believe AKAM's 11x 2011E EV/EBITDA multiple fairly reflects moderating top line growth and lower visibility.”

Akamai Technologies closed yesterday at $36.54.