Technology

CFRA Maintains Buy Recommendation On Shares Of Akamai Technologies, Inc.

/ / Technology /

We trim our target price to $103 from $132, on a P/E of 16x our NTM EPS view of $6.42, above its three-year historical average on rising momentum in its Security and Compute businesses. We cut our 2024 EPS view to $6.38 from $6.76 and drop our 2025 EPS forecast to $6.96 from $7.49. AKAM posted Q1 revenue of $987M, missing consensus by $2.18M, and non-GAAP EPS of $1.64 beat by $0.03. Security revenue accelerated 21% Y/Y (vs. 6.4% in Q1 2023), while Compute revenue increased 25% Y/Y. Compute registered strong momentum from rapid growth in customer count and uptake of new cloud computing solutions, up more than 4x on a year-over-year basis. Security saw continued strength with Zero Trust, its Guardicore segmentation solution, and Akamai API security. However, Content delivery was weaker than expected from slower traffic growth and cost optimization efforts with a large social media customer. We […]

CFRA Maintains Buy Recommendation On Shares Of Akamai Technologies, Inc. Read Post »

Alphabet’s Talks to Acquire HubSpot Advance

/ / Technology /

Alphabet (GOOG, GOOGL) is in advanced discussions to acquire HubSpot (HUBS), negotiating terms of a potential deal, Bloomberg reported Thursday, citing people familiar with the matter. The companies are still in talks, with no final agreement reached yet, and there’s no assurance that a deal will materialize, sources told Bloomberg, adding that another potential buyer could also emerge. HubSpot, specializing in customer relationship management for smaller businesses, currently has a market value of $30 billion, the report said. Last month, Reuters reported that Google parent Alphabet had engaged in discussions with bankers regarding a potential offer for HubSpot.

Alphabet’s Talks to Acquire HubSpot Advance Read Post »

Apple Stock Has Room to Rise. Don’t ‘Underestimate’ the IPhone. — Barrons.com

/ / Technology /

By Angela Palumbo Apple stock has been regaining its footing after earnings, and Evercore ISI expects more gains, largely from the tech company’s most popular product. Analyst Amit Daryanani rates Apple at Outperform with a target of $220 for the price, which implies a gain of 20% from its closing level of $182.74 on Wednesday. The stock has dropped 4.7% this year but is up 5.6% over the past 12 months. Wall Street has been waiting to see how Apple will respond as other tech companies unveil initiatives linked to generative artificial intelligence, as well as whether it can improve its market share in China. Concern about both points has weighed on the stock, but Daryanani said in a note Thursday that “investors should not underestimate the ability of the iPhone to continue to deliver growth over the next five years.” The iPhone is by far the largest revenue generator

Apple Stock Has Room to Rise. Don’t ‘Underestimate’ the IPhone. — Barrons.com Read Post »

Arm Holdings 4Q Revenue Jumps 47%, But Shipments Drop 10%

/ / Technology /

Arm Holdings is one of the most mentioned companies in the U.S. across all news items in the past 12 hours, according to Factiva data. The semiconductor and software design company on Wednesday posted a fiscal fourth-quarter net profit of $224 million, or 21 cents a share, with revenue jumping 47%, to $928 million. Analysts polled by FactSet had forecast sales of $865.9 million. Arm Holdings said chips reported as shipped declined to 7 billion. For the first quarter, revenue is expected to be $875 million to $925 million, exceeding analysts expectations of $866.4 million. It expects fiscal-year revenue of $3.8 billion to $4.1 billion, in line with analysts views. Shares are recently down 2%. Dow Jones & Co. owns Factiva.

Arm Holdings 4Q Revenue Jumps 47%, But Shipments Drop 10% Read Post »

Apple’s iPhone Shipments to China Surge by 12% in March, UBS Says

/ / Technology /

Apple’s (AAPL) iPhone shipments to China increased by 12% in March, UBS Securities said in a note emailed Thursday. “On Apple’s most recent earnings call, one of the biggest surprises was the disclosure that iPhone revenue increased YoY in the March quarter despite data that suggested ‘sell-through’ was down high-teens for the quarter,” UBS said. UBS highlighted that Apple’s revenue recognition policies, recognizing revenue upon shipment, partially explain the “surprise” between shipment and sell-through data. In March, Apple shipments in China rose by 12% year-over-year, while sell-through declined by 13%. Additionally, Apple reduced iPhone channel inventory during the quarter, particularly in March. “In China, we estimate sell-through was a just few hundred thousand above sell-in, modestly reducing channel inventory in that market,” UBS added. UBS has a neutral rating on Apple with a 12-month price target of $190.

Apple’s iPhone Shipments to China Surge by 12% in March, UBS Says Read Post »

AKAMAI REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS

/ / Technology /

AKAMAI REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS PR Newswire CAMBRIDGE, Mass., May 9, 2024 First quarter revenue of $987 million, up 8% year-over-year and when adjusted for foreign exchange* Security and compute revenue represented 64% of total revenue in the first quarter and combined grew 22% year-over-year and when adjusted for foreign exchange* GAAP net income per diluted share of $1.11, up 79% year-over-year and up 81% when adjusted for foreign exchange*, and non-GAAP net income per diluted share* of $1.64, up 17% year-over-year and up 18% when adjusted for foreign exchange* Board of directors authorizes a new, three-year, $2.0 billion share repurchase program CAMBRIDGE, Mass., May 9, 2024 /PRNewswire/ — Akamai Technologies, Inc. (NASDAQ: AKAM), the cloud company that powers and protects life online, today reported financial results for the first quarter ended March 31, 2024. “We are pleased with our continuing execution on our long-term strategy to drive

AKAMAI REPORTS FIRST QUARTER 2024 FINANCIAL RESULTS Read Post »

Akamai Techs Q1 2024 Adj EPS $1.64 Beats $1.61 Estimate, Sales $987.000M Miss $989.261M Estimate

/ / Technology /

Akamai Techs (NASDAQ:AKAM) reported quarterly earnings of $1.64 per share which beat the analyst consensus estimate of $1.61 by 1.86 percent. The company reported quarterly sales of $987.000 million which missed the analyst consensus estimate of $989.261 million by 0.23 percent. This is a 7.79 percent increase over sales of $915.698 million the same period last year.

Akamai Techs Q1 2024 Adj EPS $1.64 Beats $1.61 Estimate, Sales $987.000M Miss $989.261M Estimate Read Post »

Akamai(AKAM.US) Q1 2024 Earnings Conference

/ / Technology /

The following is a summary of the Akamai Technologies, Inc. (AKAM) Q1 2024 Earnings Call Transcript: Financial Performance: Akamai Technologies reported Q1 revenue of $987 million, up 8% year-over-year both as reported and in constant currency. Non-GAAP operating margin was 30%, with non-GAAP earnings per share at $1.64, up 17% year-over-year, and 18% in constant currency. Revenue from security and cloud computing, representing about two-thirds of total Q1 revenue, grew 22% over Q1 of 2023. The company’s Content Delivery Network (CDN) saw an 11% decline in revenue year-over-year. Akamai expects compute revenue growth of about 21% to 23% in fiscal year 2024. Projections for full year capital expenditure (CapEx) sit at around 16% of total revenue. Business Progress: The company progressed in its Security and Compute portfolios, with security revenue growing by 21% year-over-year in Q1, driven by demand for Akamai’s Guardicore Segmentation Solution. Akamai announced the upcoming acquisition of

Akamai(AKAM.US) Q1 2024 Earnings Conference Read Post »

CFRA Maintains Hold Opinion On Shares Of Arm Holdings Plc

/ / Technology /

We adjust our 12-month target to $120 from $140, on a lower revised peer-premium P/E of 64.8x our CY 25 EPS estimate, warranted given our view of growth prospects. We adjust our FY 25 (Mar.) EPS estimate to $1.60 from $1.76 and FY 26’s to $1.92 from $2.00. ARM posts Mar-Q EPS of $0.36, beating the $0.31 consensus. Revenue rose 47%, well ahead of expectations, led by higher royalty (+37%) and licensing sales (+60%). Jun-Q revenue/EPS guide exceeded consensus views, but full-year FY 25 was more tempered (still implies +20% Y/Y growth). The shift towards v9-architecture from v8 remains an opportunity (20% of royalties), which is supporting higher revenue within smartphones and share gain opportunities in automotive/hyperscalers. Although valuation remains a concern, the growth trajectory is extremely attractive (we see +20% annually through FY 27) given cloud share gain from next-gen AI GPUs and CPUs expected to enter the market,

CFRA Maintains Hold Opinion On Shares Of Arm Holdings Plc Read Post »

Intel Now Sees Q2 Revenue Below Midpoint of $12.5 Billion to $13.5 Billion Range

/ / Technology /

Intel (INTC) updated its Q2 outlook after the US Commerce Department notified the company Tuesday that it was revoking certain licenses for exports of consumer-related items to a customer in China, effective immediately. As a result, the company now expects Q2 revenue to remain in the original range of $12.5 billion to $13.5 billion but below the midpoint, according to a regulatory filing. For full-year 2024, Intel continues to expect revenue and earnings per share to grow year over year versus 2023.

Intel Now Sees Q2 Revenue Below Midpoint of $12.5 Billion to $13.5 Billion Range Read Post »

DoorDash Seen Retaining Market Dominance Despite Uber Eats, Instacart Collaboration, Deutsche Bank Says

/ / Technology /

DoorDash (DASH) is likely to maintain its market leadership in the face of the collaboration between Uber Technologies’ (UBER) Uber Eats and Instacart (CART), Deutsche Bank said Wednesday in a note. Uber Eats and Instacart on Tuesday announced they are integrating UberEats’ restaurant offerings into the Instacart platform. While this may pose some challenges to DoorDash’s primary operations, “we believe that the ultimate orders at risk via this partnership is at most” 4% to 7% of Wall Street’s 2024 and 2025 estimates,” Deutsche Bank said. “If we assume that DoorDash successfully holds on to some percentage of these orders, the potential share loss implications are even lower,” Deutsche Bank said. Deutsche Bank has a buy rating on DoorDash with a price target of $155. DoorDash shares fell 3.7% in recent trading Wednesday. Uber slumped 8.5% after posting a surprise Q1 loss, and Instacart dropped 1.9%.

DoorDash Seen Retaining Market Dominance Despite Uber Eats, Instacart Collaboration, Deutsche Bank Says Read Post »

Arm Holdings Fiscal Q4 Non-GAAP Earnings, Revenue Rise; Fiscal Q1, 2025 Outlook Set

/ / Technology /

Arm Holdings (ARM) reported fiscal Q4 non-GAAP earnings late Wednesday of $0.36 per diluted share, up from $0.02 a year earlier. Analysts surveyed by Capital IQ expected $0.30. Revenue for the quarter ended March 31 was $928 million, up from $633 million a year earlier. Analysts surveyed by Capital IQ expected $878.2 million. The company said it expects fiscal Q1 non-GAAP EPS of $0.32 to $0.36 on revenue of $875 million to $925 million. Analysts surveyed by Capital IQ expect non-GAAP EPS of $0.31 and revenue of $864.4 million. Arm expects fiscal year 2025 non-GAAP EPS of $1.45 to $1.65 on revenue of $3.80 billion to $4.10 billion. Analysts surveyed by Capital IQ expect non-GAAP EPS of $1.53 and revenue of $3.98 billion. The shares of the company were down 8% in after-hours trading.

Arm Holdings Fiscal Q4 Non-GAAP Earnings, Revenue Rise; Fiscal Q1, 2025 Outlook Set Read Post »

Scroll to Top