Akamai price target raised to $120 from $115 at DA Davidson

DA Davidson raised the firm’s price target on Akamai to $120 from $115 and keeps a Buy rating on the shares after holding talks with its CFO McGowan and IR Head Stoutenberg. The management commentary on Delivery continues to conflict with what the firm heard from Fastly (FSLY) with respect to share shifting, though overall traffic growth levels remain weak, the analyst tells investors in a research note. Akamai execs also spoke very confidently about the Compute business, and further growth acceleration seems likely as the enterprise segment of Compute continues to increase as a percentage of the mix, the firm added.