Akamai Technologies Q3 'Solid,' but Q4 Outlook Hit by CIS Delay, BofA Says

10:46 AM EST, 11/06/2026 (MT Newswires) -- Akamai Technologies' (AKAM) Q3 results were "solid," but a delay in its Cloud Infrastructure Services business weighed on the Q4 outlook, BofA Securities said in a report Friday. Q3 revenue of $1.122 billion was "modestly above" the Wall Street's $1.12 billion estimate, while earnings per share of $1.77 topped the $1.68 consensus. However, Q4 revenue guidance of $1.158 billion was about 4% below the Street estimate, as "supply-chain issues" and a third-party data center delay shifted about $30 million of revenue into 2027, according to the report. The firm said the "issues have been resolved" with no impact to total contract value or profitability, while major cloud contracts remain intact and the multi-year CIS revenue ramp remains on track to reach $1.2 billion in 2027. BofA maintained its buy rating on Akamai Technologies, saying it presents an "attractive growth profile transformation," but cut its price objective to $155 from $185 as "execution risks" and artificial intelligence data center valuation multiples have contracted. Price: 82.63, Change: +4.79, Percent Change: +6.15