Limelight Networks: Slumps after Q4 results, rating downgrades

Edgio

12/02/2021 14:16

** Digital content delivery firm's  LLNW.O  shares drop
21.3% to $3.60 premarket; at least three brokerages downgrade
stock after Q4 results
    ** LLNW on Thursday reported Q4 adj. loss of 3 cents per
share  urn:newsml:reuters.com:*:nASA01QAF
    ** Raymond James downgrades LLNW to "market perform" from
"outperform" 
    ** Brokerage believes co's major repricings indicate the
"tough relationship" it has with its largest customers, as it
relies on them for capacity filling and cost sustainability
    ** Says it has concerns over co's possession of "above
market" contracts that have not yet attained normalization 
    ** Four of 10 brokerages rate the stock "buy" or higher, 5
"hold" and 1 "sell"; median PT is $5 - Refinitiv Eikon data
    ** LLNW stock up ~14.3% this year, as of last close
    
    

 (Reporting by Siddarth S)
 ((Siddarth.s@thomsonreuters.com;))