Akamai price target lowered to $83 from $88 at Piper Sandler

Piper Sandler analyst James Fish lowered the firm’s price target on Akamai (AKAM) to $83 from $on lower free cash flow estimates, while keeping a Neutral rating on the shares. Following a reset of shares over the last few weeks, shares are pointed slightly higher after hours as Akamai was able to beat and raise for the year, though some of these gains were given back at the realization that the raise was primarily due to FX, TikTok inclusion, and CDN upside that offset Compute missing and Security coming inline.