Akamai Technologies (AKAM) Plunges 4.65% as Analysts Downgrade

Akamai Technologies (AKAM) shares plunged 4.65% intraday, marking the lowest level since March 2019. The stock has been on a downward spiral, declining 3.83% today and 16.44% over the past four days.

TD Cowen and B of A Securities have both downgraded Akamai Technologies' stock. TD Cowen adjusted its rating from "buy" to "hold," while B of A Securities shifted from "buy" to "neutral" and lowered the price target from $125 to $100. These changes in ratings could dampen investor confidence and contribute to the stock's decline.

S&P Global has revised Akamai Technologies' outlook to negative, citing rising leverage as a concern. This revision may further influence investor perceptions and add pressure to the stock price.