Raymond James Trims Edgio (NASDAQ:EGIO) Target Price to $6.00

Edgio (NASDAQ:EGIOGet Rating) had its price objective trimmed by Raymond James from $8.00 to $6.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has a strong-buy rating on the stock.

EGIO has been the topic of several other reports. DA Davidson dropped their price objective on shares of Edgio to $3.25 in a report on Monday, August 15th. Northland Securities cut Edgio from an outperform rating to a market perform rating in a research report on Thursday. Cowen cut Edgio from an outperform rating to a market perform rating and decreased their price target for the company from $5.75 to $2.50 in a research report on Thursday. Finally, Cowen cut Edgio from an outperform rating to a market perform rating and decreased their price target for the company from $5.75 to $2.50 in a research report on Thursday.

Edgio Stock Down 7.6 %

NASDAQ EGIO opened at $1.29 on Friday. The stock has a market capitalization of $177.58 million, a P/E ratio of -2.57 and a beta of 0.89. Edgio has a 52 week low of $0.79 and a 52 week high of $5.55. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.08 and a current ratio of 2.08. The firm’s 50-day simple moving average is $2.82.

About Edgio

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Edgio, Inc provides edge-enabled software solutions through an integrated delivery, applications, and streaming platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates private global networks with distributed computing resources and extensive connectivity to last-mile broadband network providers; offers live and on-demand video delivery services; and provides online video platforms that integrates and manages advanced video delivery.

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