Wall Street brokerages expect Limelight Networks, Inc. (NASDAQ:LLNW) to post sales of $47.62 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Limelight Networks’ earnings. The lowest sales estimate is $47.33 million and the highest is $48.02 million. Limelight Networks posted sales of $43.78 million in the same quarter last year, which would indicate a positive year over year growth rate of 8.8%. The firm is expected to announce its next quarterly earnings results after the market closes on Wednesday, February 7th.
On average, analysts expect that Limelight Networks will report full-year sales of $47.62 million for the current year, with estimates ranging from $183.50 million to $184.19 million. For the next fiscal year, analysts forecast that the firm will report sales of $196.61 million per share, with estimates ranging from $194.50 million to $199.39 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Limelight Networks.
Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings results on Wednesday, October 18th. The information services provider reported $0.02 earnings per share (EPS) for the quarter. Limelight Networks had a negative return on equity of 3.29% and a negative net margin of 5.91%. The business had revenue of $46.07 million for the quarter, compared to the consensus estimate of $43.09 million. The business’s revenue was up 16.7% compared to the same quarter last year.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Limelight Networks from a “hold” rating to a “buy” rating and set a $4.25 price target on the stock in a research report on Thursday, September 28th. B. Riley reissued a “buy” rating and set a $6.00 price target on shares of Limelight Networks in a research report on Friday, January 5th. DA Davidson set a $5.50 price target on Limelight Networks and gave the stock a “buy” rating in a research report on Monday, October 16th. Finally, BidaskClub downgraded Limelight Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $5.00.
In related news, Director Mark J. Midle sold 15,000,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $4.35, for a total transaction of $65,250,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 37.60% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Dorsey & Whitney Trust CO LLC boosted its position in Limelight Networks by 26.8% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 48,570 shares of the information services provider’s stock valued at $140,000 after purchasing an additional 10,270 shares in the last quarter. Wolverine Trading LLC boosted its position in Limelight Networks by 761.3% during the third quarter. Wolverine Trading LLC now owns 37,766 shares of the information services provider’s stock valued at $150,000 after purchasing an additional 43,477 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Limelight Networks by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 66,823 shares of the information services provider’s stock valued at $193,000 after purchasing an additional 3,090 shares in the last quarter. OxFORD Asset Management LLP boosted its position in Limelight Networks by 115.3% during the second quarter. OxFORD Asset Management LLP now owns 72,171 shares of the information services provider’s stock valued at $209,000 after purchasing an additional 38,647 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Limelight Networks during the second quarter valued at about $220,000. 69.96% of the stock is currently owned by institutional investors.
Limelight Networks (NASDAQ:LLNW) opened at $4.23 on Friday. Limelight Networks has a 12-month low of $2.02 and a 12-month high of $6.05. The stock has a market capitalization of $484.75, a price-to-earnings ratio of -42.30, a PEG ratio of 660.00 and a beta of 2.54.
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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