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February 7, 2013
12:21 EDTLLNW, AKAMLimelight falls after competitor Akamai disappoints Street
Internet content delivery network Limelight Networks (LLNW) is declining after its larger competitor, Akamai Technologies (AKAM), reported lower than expected fourth quarter revenue, and predicted that sales for the current quarter would also come in below expectations. Akamai's earnings per share in the fourth quarter, excluding certain items, beat expectations. The company predicted that its earnings during the current quarter would also surpass analysts' expectations. However, Akamai noted that the guidance for its current quarter factors in a lower tax rate, driven by an R&D tax credit. Moreover, Akamai's guidance implies that its revenue growth will slow during the current quarter. In a note to investors earlier today, Jefferies analyst Aaron Schwartz downgraded Akami to Hold from Buy. Akamai intends to increase its expenditures much more than expected, the analyst wrote. This development, along with the decline in the company's revenue growth, is likely to keep the stock from advancing significantly in the near term, according to Schwartz. In early afternoon trading, Limelight retreated 4% to $2.30, while Akamai tumbled 15.5% to $35.
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July 24, 2014
13:16 EDTAKAM, LLNWAkamai advances following Macquarie upgrade
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10:03 EDTAKAMOn The Fly: Analyst Upgrade Summary
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07:58 EDTAKAMAkamai upgraded to Outperform from Neutral at Macquarie
Macquarie upgraded Akamai to Outperform based on revised 2H consensus margin forecasts and meetings with CDN competitors. The upgrade is not a call on the Q2 report but a longer-term call that media delivery revenue growth could grow in the mid-teens for the next few years driven by increased volumes from HD sporting and other content. Price target raised to $70 from $59.

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