TD Cowen downgraded Akamai (AKAM) to Hold from Buy with a price target of $98, down from $125. The company lowered its long-term revenue growth guidance across all segments, lowered its long-term operating margin outlook and raised its long-term capex guide, the analyst tells investors in a research note. The firm says this deceleration, coupled with Akamai’s go-to-market transformation, “creates a greater degree of execution risk to the story.” In addition, TD continues to question the company’s right to win in cloud.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AKAM:
- Akamai downgraded to Hold from Buy at TD Cowen
- Akamai downgraded to Neutral from Overweight at Piper Sandler
- Akamai’s Promising Growth: Surpassing Expectations with Strategic Moves in Security and Cloud Infrastructure
- Akamai’s Multi-Year Transition and Near-Term Uncertainty Justify Hold Rating Amid Challenges and Optimistic Framework
- Akamai Technologies Reports Steady Growth in 2024