** Akamai Technologies AKAM.O shares gain 5.34% to $76.90 premarket

** The cloud and cybersecurity firm forecasts Q4 revenue above Wall Street estimates, according to LSEG data

** Co posts Q3 revenue of $1.06 bln, beating analysts' estimate of $1.04 bln; adj earnings of $1.86 per share also beat estimates of $1.64 per share

** At least two brokerages raise price target on stock

** "Akamai has turned the corner and is in a better spot now than this time last year, with Security and Compute continuing to nicely move up and to the right, while the bleed in Delivery has lessened," Scotiabank says

** 12 of 25 brokerages rate the stock "buy" or higher, nine "hold" and four "sell"; their median PT is $90

** As of last close, stock had fallen 23.6% YTD vs 19.3% increase in the Nasdaq composite index .IXIC

(Reporting by Ragini Mathur in Bengaluru)

((Ragini.Mathur@thomsonreuters.com;))