Akamai Technologies (AKAM) PT Lowered to $60 at Oppenheimer Following 2Q Release
Oppenheimer lowered its price target on Akamai Technologies (NASDAQ: AKAM) to $60.00 (from $70.00) while maintaining a Outperform rating. AKAM reported 2Q revenue of $609M and EBITDA of $224M, both in line. EPS of $0.62 was also in line with estimates.
The company guided to EBITDA margins in the 36% range and implied it can stay there for a few quarters. Oppenheimer lowered revenue estimates for FY17/FY18 to $2.48B/$2.64B and FY17/FY18 EPS estimates to $2.62/$2.62.