Akamai transferred with an Outperform at Evercore ISI

Evercore ISI took over coverage of Akamai (AKAM) with an Outperform rating and $130 price target Noting that security and cloud now represent about two-thirds of revenue and are growing double digits, the analyst argues that the company’s transition from a legacy CDN provider to a security and edge compute platform is not fully reflected in the stock’s valuation.