Akamai price target lowered to $110 from $115 at Raymond James

Raymond James analyst Frank Louthan lowered the firm’s price target on Akamai (AKAM) to $110 from $115 and keeps an Outperform rating on the shares. Akamai’s Q4 results were better than expected, but the outlook is muted by fears over the fate of ByteDance and what could be some disruption with another sales refocus, the analyst tells investors in a research note. The firm thinks the ByteDance loss combined with the other investments and the changes to the direction of the sales force again will all weigh on the shares.