In a report released today, Lee Krowl from B.Riley FBR maintained a Buy rating on Limelight Networks (LLNW), with a price target of $4.90. The company’s shares closed on Friday at $2.56, close to its 52-week low of $2.21.
Krowl noted:
“Limelight Networks (LLNW) will report its 2Q on Wednesday (7/17), AMC. For 2Q, we are modeling revenue/AEBITDA/GAAP EPS of $46.2M/$1.2M/($0.06), versus consensus at $46.8M/ $3.0M/($0.04). We expect the company to report in line to slightly better than our estimates, as 1H investments in network capacity and additional head count are likely to weigh on margins, relative to consensus. While 2Q is the last quarter of tough Y/Y comparisons, we believe new media customer additions should help to drive Q/Q revenue growth. Shares have underperformed since 1Q results, which we believe is due, in part, to perceived risk to annual guidance, given the meaningful implied 2H ramp, along with the IPO of Fastly (FSLY), a comp whose revenue growth has cast a shadow on LLNW.”
According to TipRanks.com, Krowl is ranked #537 out of 5244 analysts.
Limelight Networks has an analyst consensus of Moderate Buy, with a price target consensus of $3.87.
See today’s analyst top recommended stocks >>
Based on Limelight Networks’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $8.56 million. In comparison, last year the company had a net profit of $15.16 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Limelight Networks, Inc. provides content delivery network services. It products include digital content & video delivery, cloud security, edge computing, origin storage & support services. The company’s solutions include realtime streaming, file distribution, live video & video on demand. Limelight was founded by Michael M. Gordon, Allan M. Kalpan, Nathan F.
