Akamai price target lowered to $92 from $115 at RBC Capital

RBC Capital lowered the firm’s price target on Akamai to $92 from $115 and keeps a Sector Perform rating on the shares. The company’s Q1 revenue missed estimates and its guidance was cut amid a broad-based slowdown in Delivery traffic growth, especially inmedia and gaming, and cost optimization efforts by a large customer, the analyst tells investors in a research note. With the Content Delivery Solutions market looking increasingly challenged, the firm “remains on the sidelines”.