Limelight jumps as analyst sees ‘best-in-class’ video content delivery network

Shares of digital content distribution company Limelight Networks (LLNW) are pushing higher in afternoon trading after the company announced it will be participating in a conference call hosted by Lake Street management on June 24. WHAT’S NEW: Limelight shares caught the eye of investors yesterday morning when Lake Street analyst Eric Martinuzzi noted that after spending time investing in its business, the company now has a “best-in-class” over-over-the-top, or OTT, video content delivery network. FORTUITOUS WAVE OF CONTENT: The Lake Street analyst sees the company’s product offerings as coinciding ” fortuitously” with a wave of new and planned content offerings from the likes of Disney (DIS), HBO (T), and NBCUniversal (CMCSA). Martinuzzi initiated coverage of Limelight Networks with a Buy rating and $8 price target on Monday. The analyst believes Limelight is “on the cusp” of years of double-digit growth and margin expansion. Martinuzzi forecast “a bright future” of new account sign-ups and higher installed base retention as the company turns its competitive advantage into market share gains, the analyst said in his research note. PRICE ACTION: In afternoon trading, shares of Limelight Networks jumped nearly 16% to $6.45. OTHERS TO WATCH: Other companies to watch include Akamai Technologies (AKAM), which is up 1.5% to $103.08.

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