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Fly News Breaks for January 8, 2019
AKAM
Jan 8, 2019 | 06:14 EDT
Piper Jaffray analyst James Fish lowered his price target for Akamai Technologies to $84 while keeping an Overweight rating on the name. The analyst views the company's acquisition of Janrain as "extremely strategic." While the deals allows Akamai to back into the identity space, Janrain is likely a "B" or "C" player compared to peers, Fish tells investors in a research note. The analyst updated his estimates to reflect the acquisition but continues to view Akamai's risk/reward as "especially appealing," saying the market is factoring in lower revenue growth already.
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