why Edgio Inc [EGIO] is a Good Choice for Investors After New Price Target of $0.35

Edgio Inc [NASDAQ: EGIO] jumped around 0.09 points on Monday, while shares priced at $0.31 at the close of the session, up 41.82%. The company report on February 22, 2024 at 8:00 AM that Web Application Attacks Intensify in Fourth Quarter of 2023, According to New Edgio Quarterly Attack Trends Report.

Leading edge platform provider identifies new attack patterns and ways for organizations to best protect digital assets, in inaugural issue of quarterly threat report.

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Edgio (NASDAQ: EGIO), the platform of choice for speed, security, and simplicity at the edge, found that web application attacks continued to increase and evolve in the fourth quarter of 2023, as reported in its new Edgio Quarterly Attack Trends Report in which the company analyzed 5.2 billion attack requests. Edgio found that the most prevalent attack mitigated was path traversal. A successful path traversal attack allows a threat actor to access files on a web server, and has surpassed the prior #1 threat, SQL injection, a common attack vector that often uses malicious SQL statements to attempt to exfiltrate sensitive data from databases behind applications.

Compared to the average trading volume of 1.14M shares, EGIO reached a trading volume of 5671768 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Edgio Inc [EGIO]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EGIO shares is $0.35 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EGIO stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Northland Capital have made an estimate for Edgio Inc shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on November 10, 2022. While these analysts kept the previous recommendation, Cowen dropped their target price from $5.75 to $2.50. The new note on the price target was released on November 10, 2022, representing the official price target for Edgio Inc stock.

The Average True Range (ATR) for Edgio Inc is set at 0.03, with the Price to Sales ratio for EGIO stock in the period of the last 12 months amounting to 0.19. The Price to Book ratio for the last quarter was 0.46, with the Price to Cash per share for the same quarter was set at 0.12.

How has EGIO stock performed recently?

Edgio Inc [EGIO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 31.65. With this latest performance, EGIO shares gained by 27.87% in over the last four-week period, additionally sinking by -58.70% over the last 6 months – not to mention a drop of -75.43% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EGIO stock in for the last two-week period is set at 62.57, with the RSI for the last a single of trading hit 71.97, and the three-weeks RSI is set at 54.99 for Edgio Inc [EGIO]. The present Moving Average for the last 50 days of trading for this stock 0.2823, while it was recorded at 0.2410 for the last single week of trading, and 0.5871 for the last 200 days.

Edgio Inc [EGIO]: Deeper insight into the fundamentals

Edgio Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.85 and a Current Ratio set at 0.85.

Earnings analysis for Edgio Inc [EGIO]

With the latest financial reports released by the company, Edgio Inc posted -0.19/share EPS, while the average EPS was predicted by analysts to be reported at -0.1/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -90.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EGIO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Edgio Inc go to 15.00%.

Insider trade positions for Edgio Inc [EGIO]

The top three institutional holders of EGIO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in EGIO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in EGIO stock with ownership which is approximately 5.8325%.