Wedbush Reiterates Outperform Rating On Akamai Technologies

According to Wedbush, Akamai Technologies (NASDAQ: AKAM) 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.