Akamai price target raised to $130 from $115 at Oppenheimer

Oppenheimer raised the firm’s price target on Akamai (AKAM) to $130 from $115 and keeps an Outperform rating on the shares ahead of quarterly results. The firm expects a top-line beat with revenue at high end of guide. Behind its bullish view are its checks that show average contract size is up mid-single digits year-over-year, driven by greater adoption of Guardicore and Noname security modules, as well as Akamai’s Cloud Infrastructure capabilities.