Harmonic Inc. HLIT recently announced that its VOS 360 Media SaaS and VOS360 Ad SaaS have successfully qualified for Akamai Technologies, Inc.’s AKAM cloud computing platform, Akamai Cloud. The highly distributed edge computing platform enables businesses to build, deploy, and manage applications on a vast network globally. With its collaboration with AKAM, Harmonic, the worldwide leader in virtualized broadband and video delivery solutions aims to provide customers with greater efficiency in deploying broadcast, playout, and video streaming workflows, bringing significant benefits to the media and entertainment sectors. 

Harmonic’s VOS360 Media SaaS is an end-to-end cloud media processing solution that simplifies the entire process of media delivery for premium video streaming and broadcasting. Integrating this cutting-edge solution into Akamai’s cloud infrastructure will likely allow media companies to gain better control over their workflows, optimize viewing experiences, and reduce operational costs. 

In addition, the solution will power Akamai Media Services Live 5, an all-encompassing solution suite for live event broadcasting and linear streaming. Meanwhile, the VOS360 Ad SaaS solution manages the full workflow for personalized ad delivery, including in-stream and full-screen formats. This dynamic combination enables broadcasters, service and content providers to enhance ad targeting, increase revenue, and improve user engagement across various content types. 

This partnership underscores Harmonic’s ongoing commitment to enabling media companies to accelerate their service deployments on major cloud platforms. By combining Harmonic’s award-winning media processing and delivery solutions with Akamai’s cloud infrastructure, the collaboration continues to open doors to innovative revenue-generating use cases. Further, it enhances the agility, resiliency, security, and scalability of media workflows.

Does HLIT Stock Stand to Gain From the Achievement?

This partnership with Akamai strengthens Harmonic’s presence in the cloud-based media solutions space, enabling the company to reach new customers and markets. By integrating its solutions with Akamai’s trusted cloud infrastructure, Harmonic enhances its credibility and expands its customer base, thereby accelerating its growth, driving innovation, and maintaining a competitive edge in the evolving media landscape.

These advancements are expected to generate incremental demand for Harmonic’s solutions, leading to higher revenues. An improved financial performance is likely to propel the stock upward.

HLIT’s Stock Price Performance

Shares of Harmonic have plunged 20.8% over the past year against the industry’s growth of 65.6%.

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HLIT’s Zacks Rank and Stocks to Consider

Harmonic currently carries a Zacks Rank #3 (Hold). 

A couple of better-ranked stocks in the broader industry have been discussed below.
 
InterDigital, Inc. IDCC carries a Zacks Rank of 2 (Buy) at present. It has a long-term growth expectation of 15%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

IDCC pioneered advanced mobile technologies that enable wireless communications and capabilities. The company designs and develops various advanced technology solutions for digital cellular, wireless 3G, 4G and IEEE 802-related products and networks.

Workday Inc. WDAY carries a Zacks Rank #2 at present. In the last reported quarter, it delivered an earnings surprise of 7.36%. 

WDAY is a top supplier of enterprise-level software solutions for the fields of human resources and finance management. The company's cloud-based platform makes it simpler for businesses to offer analytical insights and decision support by integrating finance and human resources into a single system.

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Harmonic Inc. (HLIT) : Free Stock Analysis Report

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