Guggenheim upgraded Akamai Technologies to Neutral from Sell without a price target. The analyst sees potential upside to current 2024 Street estimates, which the firm believes creates a more balanced risk/reward scenario for the shares. Recent field conversations suggest tailwinds seen in Akamai’s Q2 Security results may be sustainable near-term and 13 incremental core data centers are set to be live by the end of October, the analyst tells investors in a research note. These two factors, along with tailwinds to Delivery in the second half of 2024, are likely to drive potential upside to current 2024 Street revenue estimates over time, says Guggenheim.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on AKAM:
- Citi opens ‘positive catalyst watch’ on Akamai into earnings
- Akamai price target raised to $112 from $105 at Citi
- Akamai sees Lumen contracts adding $40M-$50M in revenue in FY24
- Akamai Technologies Acquires Select Customer Contracts from Lumen
- Lumen announces sale of select CDN customer contracts to Akamai