After B.Riley FBR and Oppenheimer gave Limelight Networks (NASDAQ: LLNW) a Buy rating last month, the company received another Buy, this time from Northland Securities. Analyst Michael Latimore maintained a Buy rating on Limelight Networks today and set a price target of $8.00. The company’s shares closed last Thursday at $5.07.
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 7.0% and a 47.1% success rate. Latimore covers the Technology sector, focusing on stocks such as Comtech Telecommunications, Axon Enterprise, and Vonage Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Limelight Networks with a $7.50 average price target, implying a 41.5% upside from current levels. In a report issued on April 21, B.Riley FBR also maintained a Buy rating on the stock with a $7.50 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.
