Akamai Technologies Analysts Cut Their Forecasts After Weak Forecast
Portfolio Pulse from Avi Kapoor
Akamai Technologies, Inc. (NASDAQ:AKAM) exceeded Q1 earnings expectations but provided a weaker than expected forecast for Q2 and FY24, leading to price target reductions by Baird, B of A Securities, and Susquehanna.
May 10, 2024 | 1:05 pm
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Akamai Technologies reported higher Q1 earnings than expected but issued a weaker forecast for Q2 and FY24, resulting in lowered price targets by analysts.
The weaker than expected guidance for Q2 and FY24 indicates potential challenges ahead for Akamai Technologies, likely affecting investor sentiment negatively in the short term. Analysts' reductions in price targets further signal concerns about the company's future performance, which could lead to a decrease in stock price.
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