Akamai price target raised to $136 from $130 at Piper Sandler

Piper Sandler analyst James Fish raised the firm’s price target on Akamai to $136 from $130 and keeps an Overweight rating on the shares. Following an over 20% run since last earnings, the bar was fairly high for Akamai who reported a slightly disappointing Q4 and 2024 initial guide, the firm says. However, there is optimism in Security’s mid-teens sustainability, Compute accelerating to +20% and having multiple large wins, the Gecko launch for edge workloads, and CFO McGowan’s walk-through of inputs pointing to typical conservatism, Piper adds.