RBC Capital Starts Akamai Technologies (AKAM) at Outperform

RBC Capital analyst Mark Mahaney initiates coverage on Akamai Technologies (NASDAQ: AKAM) with a Outperform rating and a price target of $140.00.

The analyst comments "We expect revenue growth to decelerate in the near term as some pandemic tailwinds fade in CDN delivery. That said, we believe revenue will stabilize and we see a path to acceleration to double-digit growth due to a few factors: 1) Akamai’s security business seeing healthy, 20%+ revenue growth, on track to exceed 50% of revenue by 2025; 2) we believe that internet traffic will be elevated over prepandemic levels, offsetting price compression; and 3) edge compute technology is at a turning point, in our view, with the rise of 5G and digital transformation tailwinds."

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 $102.12 yesterday.

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