Lake Street Bumps Up Limelight Networks Price Target By 11% Post Q4 Results
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Lake Street analyst Eric Martinuzzi raised the price target on Limelight Networks Inc (NASDAQ: LLNW) to $5 from $4.50 and reiterated a Buy rating on the shares. The price target implies an upside of 34%.
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The re-rating follows Limelight's Q4 results and 2022 guidance that was "slightly" ahead of expectations.
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Martinuzzi believes a return to growth and more consistent execution will support a higher valuation.
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Limelight reported fourth-quarter FY21 revenue growth of 14% year-on-year to $62.9 million, beating the consensus of $61.6 million.
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The gross margin expanded 670 bps to 35.4%.
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Non-GAAP EPS of $0.02 beat the consensus of $0.01.
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Limelight sees FY22 revenue of $240 million - $250 million versus the consensus of $241.2 million.
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Limelight sees FY22 non-GAAP EPS loss of $(0.06) - $(0.01) against the consensus loss of $(0.04).
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Price Action: LLNW shares traded higher by 9.25% at $4.08 on the last check Friday.
Latest Ratings for LLNW
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Jan 2022 | Truist Securities | Upgrades | Hold | Buy |
| Dec 2021 | Raymond James | Upgrades | Market Perform | Strong Buy |
| Oct 2021 | Craig-Hallum | Upgrades | Hold | Buy |
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