UBS analyst Steven Milunovich lowered his price target on Akamai Technologies (NASDAQ: AKAM) to $80.00 (from $88.00) following the company miss but reiterated a Buy rating saying the weakens offers a chance to buy.

commented, "Investors often tell us they like the story but are waiting for a blow-up, historically driven by lower CDN pricing. Well, this may be the opportunity with 3Q guidance weak and the stock off 10% in the aftermarket. The causes for the slight miss in 2Q and more major shortfall in 3Q appear not to be pricing but (1) capacity investment for expected over-the-top revenue next year causing margin declines, and (2) slower media growth on tough comparisons. We think the longer-term story is intact and recommend purchase, not too dissimilar to Apple's recent quarter."

The firm trimmed FY 2015 EPS from $2.50 to $2.42, FY 2016 EPS from $3.05 to $2.90 and FY 2017 EPS from $4.21 to $4.09.

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Shares of Akamai Technologies closed at $73.65 yesterday.