Northland Securities analyst Michael Latimore maintained a Buy rating on Limelight Networks (LLNW) today and set a price target of $8.00. The company’s shares closed last Monday at $5.46.
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 15.8% and a 56.5% success rate. Latimore covers the Technology sector, focusing on stocks such as Comtech Telecommunications, Synchronoss Technologies, and Ribbon Communications.
Currently, the analyst consensus on Limelight Networks is a Strong Buy with an average price target of $7.13, which is a 41.2% upside from current levels. In a report released yesterday, Raymond James also upgraded the stock to Buy with a $6.00 price target.
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Based on Limelight Networks’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $57.01 million and GAAP net loss of $5.26 million. In comparison, last year the company earned revenue of $43.28 million and had a GAAP net loss of $8.56 million.
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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. Raciborski and William H. Rinehart in June, 2001 and is headquartered in Tempe, AZ.