Royal Bank Reaffirms Akamai's Rating Amid Major Anthropic Contract

Akamai Technologies (NASDAQ:AKAM) has had its 'sector perform' rating reaffirmed by Royal Bank Of Canada in a report issued on Friday.

The technology infrastructure company's stock price target is $135.00, indicating a potential upside of 14.97% from the previous close.

This is not the only recent development for Akamai Technologies - the company has also been impacted by a major contract with Anthropic, which agreed to spend $11.6 billion over seven years on Akamai Cloud services.

The relationship could expand by another $9 billion, creating a potential commitment of approximately $20 billion and providing substantial long-term revenue visibility for the company.