Akamai assumed with an Outperform at Oppenheimer

Oppenheimer analyst Param Singh assumed coverage of Akamai (AKAM) with an Outperform rating with a price target of $100, down from $116. While remaining cautious on the investor thesis that the consolidation in the industry will improve CDN pricing, the firm sees outsized opportunity for Akamai in its Security and Compute portfolio, which can accelerate topline growth. Oppenheimer believes estimates have sufficiently reset after the earnings miss last quarter and that the company is well positioned to outperform expectations through the year.