Limelight Networks, Inc. (LLNW) Receives $6.13 Average PT from Analysts

Limelight Networks, Inc. (NASDAQ:LLNW) has received a consensus recommendation of “Buy” from the nine research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $6.13.

A number of equities analysts have recently weighed in on the company. ValuEngine downgraded Limelight Networks from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 26th. TheStreet upgraded Limelight Networks from a “c” rating to a “b-” rating in a report on Thursday, July 19th. BidaskClub downgraded Limelight Networks from a “sell” rating to a “strong sell” rating in a report on Saturday, June 30th. Zacks Investment Research downgraded Limelight Networks from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 21st. Finally, DA Davidson reiterated a “buy” rating on shares of Limelight Networks in a report on Monday, July 16th.

NASDAQ LLNW opened at $5.09 on Friday. The stock has a market cap of $568.84 million, a price-to-earnings ratio of -254.50, a P/E/G ratio of 12.24 and a beta of 2.27. Limelight Networks has a 1 year low of $3.65 and a 1 year high of $6.05.

Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings data on Thursday, July 19th. The information services provider reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The firm had revenue of $50.25 million for the quarter, compared to the consensus estimate of $49.64 million. Limelight Networks had a return on equity of 1.99% and a net margin of 6.43%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 EPS. equities analysts expect that Limelight Networks will post 0.03 earnings per share for the current year.

In related news, insider Kurt Silverman sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, July 20th. The stock was sold at an average price of $5.00, for a total value of $37,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert A. Lento sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $4.46, for a total value of $178,400.00. The disclosure for this sale can be found here. In the last three months, insiders sold 159,900 shares of company stock valued at $744,416. 10.60% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in LLNW. Campbell & CO Investment Adviser LLC bought a new stake in shares of Limelight Networks in the 2nd quarter valued at approximately $125,000. Macquarie Group Ltd. bought a new stake in Limelight Networks during the second quarter worth approximately $139,000. WINTON GROUP Ltd bought a new stake in Limelight Networks during the first quarter worth approximately $172,000. MetLife Investment Advisors LLC boosted its position in Limelight Networks by 172.6% during the first quarter. MetLife Investment Advisors LLC now owns 43,835 shares of the information services provider’s stock worth $180,000 after purchasing an additional 27,754 shares during the period. Finally, Cim Investment Mangement Inc. bought a new stake in Limelight Networks during the second quarter worth approximately $182,000. 72.84% of the stock is owned by institutional investors and hedge funds.

Limelight Networks Company Profile

Limelight Networks, Inc provides content delivery and related services and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers services and solutions for businesses to deliver their digital content across Internet, mobile, and social channels. It provides Orchestrate Platform, a suite of integrated services comprising content delivery, video content management, Website and Web application acceleration, Website and content security, and cloud storage services.

Read More: Short Selling Stocks and Day Traders

Analyst Recommendations for Limelight Networks (NASDAQ:LLNW)

Receive News & Ratings for Limelight Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Limelight Networks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply