On August 10, Akamai rose 5.12% in regular trading, trading around $116.19/share, with turnover of approximately $76.15 million. The stock extended its post-earnings rebound as investors continued to digest the strong cloud infrastructure performance from its Q2 report.

The company recently reported Q2 results showing cloud infrastructure services revenue of $99 million, up 39% year-over-year, which has become the key driver of renewed bullish sentiment. Total Q2 revenue of $1.099 billion slightly beat the consensus estimate of $1.092 billion, while adjusted EPS of $1.59 exceeded the $1.57 estimate but declined 8.09% from $1.73 a year ago. The company guided Q3 revenue of $1.11-$1.13 billion with adjusted EPS of $1.60-$1.80, largely in line with expectations.

On the analyst front, HSBC downgraded Akamai to Hold from Buy and cut its price target to $123 from $171, while Susquehanna lowered its target to $140 from $175 but maintained a Positive rating. The average analyst target of $159.10 remains significantly above the current price, supporting the ongoing recovery.

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