Akamai price target raised to $130 from $118 at DA Davidson

DA Davidson analyst Rudy Kessinger raised the firm’s price target on Akamai to $130 from $118 and keeps a Buy rating on the shares. The company’s revenue and earnings topped estimates again as Security segment growth accelerated for the second straight quarter to 20% after its Q3 earnings beat and guidance raise, the analyst tells investors in a research note. The firm continues to believe the mix shift to Security & Compute will drive a high-single-digit revenue growth profile and low-double-digit EPS growth over the next several years, DA Davidson added.