After Northland Securities and William Blair gave Limelight Networks (NASDAQ: LLNW) a Buy rating last month, the company received another Buy, this time from B.Riley FBR. Analyst Lee Krowl reiterated a Buy rating on Limelight Networks today and set a price target of $7.50. The company’s shares closed last Thursday at $5.81.
According to TipRanks.com, Krowl is a 2-star analyst with an average return of -1.8% and a 32.3% success rate. Krowl covers the Technology sector, focusing on stocks such as Digital Turbine, Brightcove, and TrueCar.
Currently, the analyst consensus on Limelight Networks is a Strong Buy with an average price target of $7.50, implying a 24.2% upside from current levels. In a report issued on April 9, Northland Securities also assigned a Buy rating to the stock with a $8.00 price target.
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Based on Limelight Networks’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $60.13 million and net profit of $2.46 million. In comparison, last year the company earned revenue of $43.99 million and had a GAAP net loss of $5.19 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.