Akamai price target raised to $88 from $80 at Piper Sandler

Piper Sandler analyst James Fish raised the firm’s price target on Akamai (AKAM) to $88 from $80 and keeps a Neutral rating on the shares. Following a more than 25% run over the last month, Akamai shares are likely to take a breather following the print as while CDN trends and dynamics were encouraging, the growth segments handily missed, constant-currency guide was lowered, and normalized Security growth will disappoint many that will cause questions around durability and the implied second half of the year guide to get to about 10% on the year, the firm says.