Akamai price target lowered to $114 from $136 at Piper Sandler

Piper Sandler lowered the firm’s price target on Akamai to $114 from $136 and keeps an Overweight rating on the shares. The inline quarter, guide-down, and CDN dynamics “will likely leave Akamai and its media CDN peers in the penalty box for some time,” but the firm sees “multiple things to like underneath” and sees the ongoing shift to Security/Compute as attractive at these levels, the analyst tells investors.