Limelight Networks (LLNW) Gets a Buy Rating from B.Riley FBR

By Carrie Williams

In a report released today, Sameet Sinha from B.Riley FBR maintained a Buy rating on Limelight Networks (NASDAQ: LLNW), with a price target of $6. The company’s shares closed yesterday at $4.94.

Sinha wrote:

“We recently hosted a non-deal roadshow with the CFO of Limelight Networks (LLNW), Sajid Malhotra. We came away upbeat on the upcoming ramp of edge compute (EC) and ongoing trends in gaming/over-the-top (OTT) and the potential for the just announced Realtime Streaming (RTS) product. We believe the RTS product, which drops latency down to near physical limits, highlights a very difficult to replicate competitive advantage of LLNW’s backbone network (the company is organizing a webcast on Sep 27 to provide more details to the investment community). These two products (EC/WebRTC) should give investors more visibility into the drivers behind management’s recent amendments to the long-term target model revenue of 15% (from 10% prev.) and 55% GM (from 50% prev.).”

According to TipRanks.com, Sinha is a 4-star analyst with an average return of 7.3% and a 54.6% success rate. Sinha covers the Technology sector, focusing on stocks such as Digital Turbine Inc, Alphabet Inc, and Webcom Group.

Limelight Networks has an analyst consensus of Strong Buy, with a price target consensus of $6.17.

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Based on Limelight Networks’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $15.16 million. In comparison, last year the company had a GAAP net loss of $1.63 million.

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Limelight Networks, Inc. is engages in the provision of digital content delivery solutions. It offers cloud security, content delivery, video content management, website and web application acceleration, website and content security, and cloud storage services. It serves to the software, device manufactures, media, broad casters and gaming industries.