Piper Jaffray Sees Potential Upside In 2015 For Akamai Technologies

In a report published Monday, Piper Jaffray analyst Michael J. Olson reiterated an Overweight rating and $67.00 price target on Akamai Technologies (NASDAQ: AKAM).

In the report, Piper Jaffray noted, “Last week we spoke with five Akamai customers in an effort to better understand pricing, the competitive landscape and interest in security. While this is clearly not a large enough sample to extrapolate across the entire customer base, we found the takeaways to be positive. Specifically, more customers anticipate CDN pricing to remain relatively unchanged in the coming year than we have historically seen; improving CDN pricing is potentially the result of changes in competitor pricing strategies. Additionally, all but one of the customers we spoke with is using or considering using Akamai security solutions in the next year; Akamai may be positioned to accelerate security adoption through the ongoing salesforce build up. We believe pricing stability and security adoption are each areas of potential upside in 2015. We maintain our OW & $67 PT.”

Akamai Technologies closed on Friday at $56.55.