DA Davidson cuts Akamai stock price target on shipment delays
Investing.com ·
DA Davidson cuts Akamai stock price target on shipment delays
Investing.com - DA Davidson lowered its price target on Akamai Technologies (NASDAQ:AKAM) to $125 from $150 while maintaining a Buy rating on the stock. The stock currently trades at $77.84, near its 52-week low of $71.93, having declined 16% over the past week. According to InvestingPro analysis, which tracks over 1,400 US equities with comprehensive metrics, the stock’s RSI suggests it may be in oversold territory.
The firm noted that the company’s CIS growth of 35% year-over-year at constant currency in the third quarter came in a couple of points below expectations and what most investors anticipated.
Shipment and build-out delays will result in approximately $30 million less CIS revenue in the fourth quarter this year. The calendar year 2026 CIS growth guidance was cut from over 50% year-over-year at constant currency to approximately 40-42% year-over-year at constant currency.
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