Replies to post #873 on Akamai Technologies, Inc. (AKAM)

[eastunder]

Goldman Sachs Lowers Numbers On Akamai (AKAM) On Weak Guidance
8:45 am ET 04/28/2011-

Goldman Sachs lowered estimates and its price target on Akamai Technologies (NASDAQ: AKAM) following solid Q1 results, but guidance that was below expectations. The firm maintained their Buy rating.

The firm lowered non-GAAP EPS estimates for 2011, 2012 and 2013 to $1.60, $1.85 and $2.10 from $1.66, $1.91 and $2.19 prior due to lower revenues, lower gross margins and a higher tax rate. The firm lowered their price target from $52 to $45.

Goldman said the 2Q guide-down was attributed to moderating video traffic growth and renewal of large deals in Q1.

For more ratings news on Akamai Technologies click here and for the rating history of Akamai Technologies click here.

Shares of Akamai Technologies are down 12 percent in pre-open trading to $35.90.