The stock of Limelight Networks, Inc. (NASDAQ:LLNW) hit a new 52-week high and has $6.55 target or 180.00% above today’s $2.34 share price. The 5 months bullish chart indicates low risk for the $264.65 million company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $6.55 price target is reached, the company will be worth $476.37 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 15.84% or $0.32 on November 11, hitting $2.34. About 788,494 shares traded hands or 278.12% up from the average. Limelight Networks, Inc. (NASDAQ:LLNW) has risen 23.93% since April 11, 2016 and is uptrending. It has outperformed by 17.78% the S&P500.
Limelight Networks, Inc. (NASDAQ:LLNW) Ratings Coverage
Out of 3 analysts covering Limelight Networks (NASDAQ:LLNW), 1 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 33% are positive. Limelight Networks has been the topic of 5 analyst reports since August 4, 2015 according to StockzIntelligence Inc. JMP Securities initiated Limelight Networks, Inc. (NASDAQ:LLNW) on Tuesday, March 29 with “Outperform” rating. FBR Capital maintained it with “Market Perform” rating and $2.50 target price in Thursday, September 1 report. FBR Capital maintained the stock with “Mkt Perform” rating in Tuesday, August 4 report. Zacks upgraded the stock to “Sell” rating in Friday, August 28 report. Zacks downgraded the shares of LLNW in a report on Friday, August 7 to “Hold” rating.
According to Zacks Investment Research, “LIMELIGHT NETWORKS, INC. is a content delivery partner enabling the next wave of Internet business and entertainment. More than 1300 Internet, entertainment, software, and technology brands trust their robust, scalable platform to monetize their digital assets by delivering a brilliant online experience to their global audience. LimeLight’s architecture bypasses the busy public Internet using a dedicated optical network that interconnects thousands of servers and delivers massive files at the speed of light — directly to the access networks that consumers use every day. LimeLight’s proven network and passion for service assures their customers that every object in their library will be instantly delivered to every user, every time.”
Insitutional Activity: The institutional sentiment increased to 0.86 in 2016 Q2. Its up 0.10, from 0.76 in 2016Q1. The ratio improved, as 7 funds sold all Limelight Networks, Inc. shares owned while 30 reduced positions. 10 funds bought stakes while 22 increased positions. They now own 63.09 million shares or 0.01% more from 63.08 million shares in 2016Q1.
Morgan Stanley accumulated 0% or 346,957 shares. Connor Clark Lunn Investment Mgmt holds 0% of its portfolio in Limelight Networks, Inc. (NASDAQ:LLNW) for 75,100 shares. Goldman Sachs Group holds 0.02% of its portfolio in Limelight Networks, Inc. (NASDAQ:LLNW) for 30.94 million shares. Walleye Trading Ltd, a Minnesota-based fund reported 6 shares. Suntrust Banks Inc reported 10,326 shares or 0% of all its holdings. Blackrock Llc owns 618,362 shares or 0% of their US portfolio. Moreover, Barclays Public Ltd Com has 0% invested in Limelight Networks, Inc. (NASDAQ:LLNW) for 7,200 shares. Blackrock Ltd accumulated 124,115 shares or 0% of the stock. Harvey Ltd Liability has 794,808 shares for 1.18% of their US portfolio. California Pub Employees Retirement holds 199,100 shares or 0% of its portfolio. Moreover, Quaker Cap Invs Limited Liability Company has 1.5% invested in Limelight Networks, Inc. (NASDAQ:LLNW) for 2.44 million shares. Schwab Charles Investment Incorporated holds 90,900 shares or 0% of its portfolio. Kcg reported 33,885 shares or 0% of all its holdings. Moreover, Wells Fargo Com Mn has 0% invested in Limelight Networks, Inc. (NASDAQ:LLNW) for 23,223 shares. The New York-based Spark Invest Management Ltd Liability has invested 0.07% in Limelight Networks, Inc. (NASDAQ:LLNW).
Another recent and important Limelight Networks, Inc. (NASDAQ:LLNW) news was published by Bizjournals.com which published an article titled: “Limelight Networks reports lower loss, revenue decrease in third quarter” on October 26, 2016.
LLNW Company Profile
Limelight Networks, Inc., incorporated on August 20, 2003, provides content delivery network services to deliver content over Internet. The Firm operates a globally distributed, computing platform and provides services under the Orchestrate Platform, which include content delivery, video content management, Website and Web application acceleration, Website and content security and cloud storage services. The Firm provides services to deliver digital content to Web, mobile, social, gaming, large screen and other digital channels. The Company’s services offers various features, which include video publishing, mobile enablement, content delivery, Website, and Web application acceleration and security, transcoding and cloud storage.
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