In a report released today, Michael Latimore from Northland Securities maintained a Buy rating on Limelight Networks (LLNW), with a price target of $10.00. The company’s shares closed last Friday at $6.39.
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 18.2% and a 57.0% 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 $9.17, a 52.1% upside from current levels. In a report issued on September 18, Truist Financial also initiated coverage with a Buy rating on the stock with a $9.00 price target.
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Based on Limelight Networks’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $58.55 million and GAAP net loss of $1.73 million. In comparison, last year the company earned revenue of $45.9 million and had a GAAP net loss of $7.19 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.