Limelight Networks (LLNW) Receives a Buy from Northland Securities


In a report released today, Michael Latimore from Northland Securities maintained a Buy rating on Limelight Networks (LLNW), with a price target of $8.00. The company’s shares closed last Thursday at $5.10.

According to TipRanks.com, Latimore is a 5-star analyst with an average return of 16.1% and a 55.7% 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, implying a 45.8% upside from current levels. In a report issued on June 8, 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.

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