Akamai price target lowered to $115 from $120 at Baird

Baird lowered the firm’s price target on Akamai (AKAM) to $115 from $120 and keeps an Outperform rating on the shares. The firm said they reported in-line Q3 revenue excluding a one-time benefit and provided a weaker Q4 outlook driven principally by continued delivery headwinds. Security, though decelerating, and compute, continue to produce double-digit growth, which Baird expects to continue into 2025.