Limelight Networks Stock Gains on Raymond James’ Bullish View

By Benzinga
Benzinga
Benzinga
December 21, 2021 Updated: December 21, 2021

Raymond James analyst Frank Louthan upgraded Limelight Networks Inc. from Market Perform to Strong Buy with a price target of $5. The price target implies a 40 percent upside.

“We believe the Limelight team has embarked on a solid transition, applying a combination of new sales, new products, and improved operational discipline to the legacy CDN business. Looking out 12 months, we believe this combination will drive higher sales, and thus, a stronger valuation.”

“Additionally, the company has changed the quota methodology for CDN-focused account management teams, which we believe is giving some steadiness to the sales maintenance programs as the newly hired reps ramp productivity.”

There is also the combination of new CEO Bob Lyons, Eric Armstrong’s role to build and run a sales organization, and the Layero acquisition, and CTO Ajay Kapur will likely set the stage for execution next year that will get investors’ attention.

By Anusuya Lahiri 

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