LLNW - Why Limelight Networks Stock Is Soaring Today
Shares of Limelight Networks (NASDAQ: LLNW) are rising today, up 7.5% as of 1:17 p.m. EDT, after investors were quick to embrace a bullish report from analyst firm Truist.
The content delivery network (CDN) specialist got a buy rating and a $9 share price target from Truist analyst Greg Miller. The CDN market is accelerating its growth in 2020 due to coronavirus-boosted interest in media-streaming services, and Limelight is gaining market share at this crucial moment in time. Miller also noted that Limelight should be able to meet its long-term financial targets of 15% annual revenue growth and 25% EBITDA margins thanks to the beneficial effects of COVID-19 lockdown policies.
Image source: Getty Images.