LLNW - Limelight Networks slides after Goldman turns bearish on turnaround

shulz/E+ via Getty Images With a challenging backdrop complicating the turnaround story, Goldman Sachs downgrades Limelight Networks (LLNW) from Neutral to Sell and cuts the price target from $3 to $2.50. The firm notes that Limelight has an 80% revenue exposure to the content delivery network market, which has an "increasingly challenging backdrop as pricing pressure continues" and the pandemic-driven demand tailwinds die down. Goldman expects Limelight to continue showing execution improvements but the CDN business will be difficult to stabilize in the current environment. Limelight Networks stock is down 5.2% pre-market to $2.94. LLNW has a Bullish average Wall Street analysts rating among the seven analysts tracked by Seeking Alpha.

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Limelight Networks slides after Goldman turns bearish on turnaround