Piper Sandler on Akamai Technologies (AKAM): "Just not in the game"

Piper Sandler analyst James Fish reiterated a Neutral rating and $93.00 price target on Akamai Technologies (NASDAQ: AKAM).

"As the largest Media Content Delivery Network, Akamai’s traffic is highly dependent on underlying trends from Streaming/OTT and Gaming, in addition to Ecommerce. We were encouraged by streaming apps that use Akamai seeing increased usage and direct gaming downloads moving higher, though underlying ecommerce traffic and overall gaming does remain below peak CV19 levels. We did see a slightly higher percentage of Top 10 Ecommerce sites using Akamai than 2H22 (though this was driven by teen website preference changes rather than underlying CDN share gains)."

For an analyst ratings summary and ratings history on Akamai Technologies click here. For more ratings news on Akamai Technologies click here.

Shares of Akamai Technologies closed at $77.88 yesterday.

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