Limelight Networks rises on Cowen upgrade

Edgio

17/03/2022 10:14

** Content delivery network co's shares  LLNW.O  up 3.2% at
$4.77 premarket
    ** Brokerage Cowen raises PT to $6 from $4 and upgrades
stock to "outperform" from "market perform"
    ** Cowen says record quarter to date traffic after
seasonally strong Q4 indicates improving CDN (content delivery
network) business health
    ** As a result of the improved CDN performance, LLNW has
largely recovered the traffic share that it lost in early 2021 -
brokerage
    ** However, co still has yet to regain all of the traffic
share lost with two of its top 20 customers, representing
potential upside, says Cowen
    ** Up to last close, stock had risen ~35% YTD

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com;))