Limelight Networks, Inc. (LLNW) Receives $3.43 Consensus Target Price from Analysts

Limelight Networks, Inc. (NASDAQ:LLNW) has been given a consensus recommendation of “Buy” by the seven ratings firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $3.43.

Several brokerages have commented on LLNW. BidaskClub upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. TheStreet upgraded shares of Limelight Networks from a “d+” rating to a “c” rating in a research report on Thursday, July 27th. B. Riley reiterated a “buy” rating and set a $4.30 target price on shares of Limelight Networks in a research report on Thursday, July 27th. Finally, Zacks Investment Research cut shares of Limelight Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th.

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Shares of Limelight Networks (NASDAQ LLNW) traded up 1.528% during trading on Tuesday, hitting $3.655. The stock had a trading volume of 207,122 shares. The stock’s market capitalization is $399.30 million. Limelight Networks has a 52 week low of $1.45 and a 52 week high of $3.78. The stock’s 50 day moving average is $3.58 and its 200 day moving average is $3.00.

Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings data on Wednesday, July 26th. The information services provider reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. Limelight Networks had a negative net margin of 8.65% and a negative return on equity of 5.03%. The firm had revenue of $45.37 million during the quarter, compared to analysts’ expectations of $45.25 million. During the same quarter in the previous year, the company posted $0.01 EPS. Limelight Networks’s revenue was up 4.2% on a year-over-year basis. On average, equities research analysts expect that Limelight Networks will post $0.06 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the business. American International Group Inc. raised its position in shares of Limelight Networks by 7.1% during the 1st quarter. American International Group Inc. now owns 43,718 shares of the information services provider’s stock valued at $113,000 after acquiring an additional 2,913 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in shares of Limelight Networks by 26.8% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 48,570 shares of the information services provider’s stock valued at $140,000 after acquiring an additional 10,270 shares during the last quarter. Strs Ohio raised its position in shares of Limelight Networks by 58.4% during the 1st quarter. Strs Ohio now owns 68,100 shares of the information services provider’s stock valued at $175,000 after acquiring an additional 25,100 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Limelight Networks by 4.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,823 shares of the information services provider’s stock valued at $193,000 after acquiring an additional 3,090 shares during the last quarter. Finally, OxFORD Asset Management LLP raised its position in shares of Limelight Networks by 115.3% during the 2nd quarter. OxFORD Asset Management LLP now owns 72,171 shares of the information services provider’s stock valued at $209,000 after acquiring an additional 38,647 shares during the last quarter. Institutional investors own 69.00% of the company’s stock.

Limelight Networks Company Profile

Limelight Networks, Inc operates a distributed network and provides a suite of integrated services marketed as the Limelight Orchestrate Platform. The Company is engaged in providing content delivery and related services and solutions for global businesses to help them deliver their digital content across Internet, mobile, and social channels.

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