Baird Upgrades Akamai Technologies (AKAM) to Outperform, 'Positive on growing Security opportunity'

Baird analyst William Power upgraded Akamai Technologies (NASDAQ: AKAM) from Neutral to Outperform with a price target of $135.00 (from $128.00).

The analyst comments "Positive on growing Security opportunity. We are raising our rating of AKAM from Neutral to Outperform, taking advantage of recent weakness. With valuation well below its five- and 10-year average, and a growing cloud security concentration (estimated at 50% of total revenue in 2024 vs. 39% three years ago), we view the risk/reward as attractive. While delivery remains a headwind, we believe that's well understood, and we view compute, with low investor expectations, as possible upside in 2025+. We are buyers at current levels."

For an analyst ratings summary and ratings history on Akamai Technologies click here. For more ratings news on Akamai Technologies click here.

Shares of Akamai Technologies closed at $110.16 yesterday.

You May Also Be Interested In

• Nokia OYJ (NOKIA:FH) (NOK) PT Raised to EUR18 at JPMorgan
• Adobe (ADBE) PT Lowered to $379 at Bernstein SocGen Amid 'Increased Uncertainties'
• Honasa Consumer Ltd (HONASA:IN) PT Raised to INR462 at CLSA