Akamai downgraded to Neutral from Outperform at Baird

Baird downgraded Akamai (AKAM) to Neutral from Outperform with an unchanged price target of $110. The firm sees a more balanced risk/reward with the shares up 33% year-to-date. The analyst cites optimism around compute upside and agentic traffic tailwinds for the stock rally. While these could provide long-term tailwinds for Akamai, Baird does expect a significant near-term agentic uplift, the analyst tells investors in a research note. It also believes seasonal factors could limit the company’s Q1 estimate upside.