In a report released today, Timothy Horan from Oppenheimer maintained a Buy rating on Limelight Networks (LLNW), with a price target of $4. The company’s shares closed on Friday at $3.01.
Horan wrote:
“Last Week, we hosted LLNW’s CFO in Philadelphia. Management believes it is moving past churn/pricing pressures that negatively impacted 2H18. LLNW has unique infrastructure that can provision OTT video/gaming better than its peers and volumes are strong for these services which are in the early stages of adoption. The Ericsson partnership is a game-changer as it doubles its network capacity and should drive a meaningful step-up in revenue in 2H19. PoPs will take about two quarters and increase opex in 1H19. LLNW recently added two board members with ties to US broadcasters (CBS/NBC) that could open up a new vertical for LLNW. Coupled with improving fundamentals, we believe LLNW is well-positioned for strong real time OTT growth.”
According to TipRanks.com, Horan is a top 100 analyst with an average return of 14.7% and a 69.1% success rate. Horan covers the Technology sector, focusing on stocks such as Zayo Group Holdings, GTT Communications, and CenturyLink Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Limelight Networks with a $4.50 average price target, representing a 49.5% upside. In a report issued on January 31, Cowen & Co. also maintained a Buy rating on the stock with a $5 price target.
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Limelight Networks’ market cap is currently $343.9M and has a P/E ratio of 36.22. The company has a Price to Book ratio of 2.08.
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Limelight Networks, Inc. engages in the provision of digital content delivery, online video delivery, cloud security, edge computing, and cloud storage services. Its services platform includes globally distributed, high-performance private network, intelligent software, and support services.
