Limelight Networks Inc (NASDAQ:LLNW) Should It Be in Your Portfolio?

[Business Wire] Limelight Networks Inc (NASDAQ:LLNW)(TREND ANALYSIS) announced that OWNZONES is leveraging Limelight as its content delivery network (CDN) for its rapidly growing OTT digital subscription service. OWNZONES currently serves more than 1 million pieces of content daily to internet-enabled devices around the globe through the Limelight OrchestrateTM (“Orchestrate”) Video service.

“Appointment TV is dead. Today, content needs to be accessible everywhere, any time, and however the consumer wants to consume it,” said Dan Goman, CEO and co-founder of OWNZONES. “By working with Limelight, all the work of figuring out the streaming optimization and transcoding for multiple formats was taken off our plates.”

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Limelight Networks Inc (NASDAQ:LLNW) stock is currently trading 55.53% below its 52-week-high, 0% above its 52-week-low. The 1-year stock price history is in the range of $1.97 – $4.43. Limelight Networks Inc (LLNW) has a price to book ratio of 1.11 versus Technology sector average of 2.44. LLNW stock price has underperformed the Nasdaq by 28.8%. The Internet Content & Entertainment company is currently valued at $0.2 billion and its share price closed the last trading session at $1.97. The stock has a 50-day moving average of $2.52 and a 200-day moving average of $3.56.

Limelight Networks Inc (LLNW) current short interest stands at 1.37 million shares. It has increased by 5% from the same period of last month. Around 5% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.27 million shares, the number of days required to cover the short positions stand at 5.2 days.

The company is expected to announce next quarter earnings on November 09, at consensus estimate of $-0.06. Limelight Networks Inc (LLNW) reported last quarter earnings on August 03. The Internet Content & Entertainment company announced earnings per share of $-0.07 against a consensus Street estimate of $-0.06, missing estimate by $0.01. This corresponds to a flat EPS compared to the same quarter of the previous fiscal year.

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There are currently six analysts that cover Limelight Networks Inc stock. Of those six, four have a Buy rating, one has a Hold rating and one has a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $4.9.

A recent analyst activity consisted of Cowen & Company who initiated their coverage on the stock with Outperform rating on July 2. Cowen & Company fixed their price target at $5. This corresponds to a 153.81% upside from the last closing price. On the date of report, the stock closed at $4.25.

B Riley upgraded their Neutral rating to Buy on May 1, and increased their price target on LLNW stock from $4 to $6.5. This corresponds to a 229.95% upside from the last closing price. On the date of report, the stock closed at $4.07.

Company profile

Limelight Networks Inc is a content delivery network for internet distribution of video, music, games and downloads. The Company’s advanced content delivery network provides the world’s top media companies high performance delivery of digital media and software via the Internet.

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