Limelight Networks (LLNW) 3Q Results increase Focus on FCF; Cowen Reiterates Outperform

Cowen maintained an Outperform rating on Limelight Networks, Inc. (NASDAQ: LLNW), and cut the price target to $3.50 (from $5.00), following the company's 3Q earnings results. LLNW reported muted 3Q15 results including revenue/EBITDA that slightly missed expectations and maintained 2015 guidance. Revenue was $42.0MM vs. the Street’s $43.0MME. NON-GAAP EPS was ($0.04) vs. Street’s (0.03)E.

Analyst Jonathan Charbonneau commented, "LLNW reported muted 3Q15 results and although it provided lower than expected 2016 rev guidance it has placed an increased focus on FCF and positively expects to be at least FCF neutral in 2016. While its stock could be range bound until there is more clarity with the AKAM lawsuit, we believe its business is stronger than currently reflected in valuation and remain constructive on the name LT."

For an analyst ratings summary and ratings history on Limelight Networks, Inc. click here. For more ratings news on Limelight Networks, Inc. click here.

Shares of Limelight Networks, Inc. closed at $2.10 yesterday.

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