Akamai Technologies (AKAM) shares were down over 17% in recent Friday trading after several analysts downgraded the stock following its Q4 results and guidance.
BofA downgraded the stock to neutral from buy and cut its price target to $100 from $125, saying that its "muted" outlook suggests that this year will likely be one of transition.
Other analysts also downgraded the stock, including from Craig-Hallum, Piper Sandler, and TD Cowen.
Separately, Morgan Stanley cut its price target to $102 from $108 while keeping an equalweight rating.
"FY25 guidance came in below estimates on all fronts, with EPS guided to decline YoY," Morgan Stanley said. "We remain EW awaiting signs that top-line can see more durable acceleration."
JPMorgan also cut its price target to $72 from $76, and RBC to $90 from $100.
Trading volume stood at over 11 million shares against a daily average of almost 1.7 million.
Price: 81.11, Change: -16.93, Percent Change: -17.27
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