Why Limelight Networks Shares Are Soaring Today
Shares of Limelight Networks (NASDAQ: LLNW) jumped as much as 12.7% higher on Monday morning thanks to a bullish analyst report. By 11 a.m. ET, the content delivery network (CDN) specialist's stock had cooled down somewhat to a 9% gain.
According to Raymond James analyst Frank Louthan, Limelight is executing "a solid transition" to boost the company's product portfolio and expand the addressable target market. Given it has a year or so to continue this expansion, Louthan expects Limelight to report higher sales while the stock should earn higher valuation ratios. All told, the analyst sees this stock as a strong buy at current prices. Louthan's price target of $5 per share represents a 40% upside compared with last Friday's closing price.
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Source Fool.com