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Investing.com - Raymond (NSE:RYMD) James maintained its Outperform rating on Akamai Technologies (NASDAQ:AKAM) but lowered its price target to $84.00 from $110.00 following the company’s second-quarter results. According to InvestingPro data, the stock currently trades at $74.76, with analysts’ targets ranging from $63 to $135.
The company reported better-than-expected quarterly performance, primarily driven by a continued rebound in its delivery business as traffic growth begins to normalize, according to Raymond James.
The financial services firm noted that over two-thirds of Akamai’s revenue now comes from its compute and security segments, areas where the firm believes management is executing well despite potential macroeconomic challenges ahead.
Raymond James analyst Frank Louthan IV is maintaining the Outperform rating despite the significant price target reduction, suggesting continued confidence in Akamai’s overall business direction.
The firm announced it will host an investor call with Akamai management on Friday, August 8, to further discuss the quarterly results.
In other recent news, Akamai Technologies Inc . reported robust financial results for the second quarter of 2025, surpassing analysts’ expectations. The company achieved an earnings per share of $1.73, which exceeded the forecasted $1.55, marking an 11.61% surprise. Additionally, revenue outperformed projections, reaching $1.043 billion compared to the expected $1.02 billion. These results reflect a positive performance for the company in the recent quarter. The announcement of these results was followed by a rise in Akamai’s stock price, indicating investor optimism. Analyst firms have noted these developments but have not provided specific upgrades or downgrades in their reports. These recent developments highlight Akamai’s strong financial position.
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