Other analysts also recently issued research reports about the stock. B. Riley raised their price target on shares of Limelight Networks from $2.90 to $3.70 and gave the stock a “buy” rating in a report on Monday, September 23rd. ValuEngine upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. DA Davidson restated a “neutral” rating and set a $2.70 price target on shares of Limelight Networks in a report on Tuesday, July 2nd. Finally, Zacks Investment Research upgraded shares of Limelight Networks from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $3.20.
LLNW stock remained flat at $$3.06 during mid-day trading on Friday. 606,367 shares of the company’s stock were exchanged, compared to its average volume of 848,185. The stock has a market cap of $359.06 million, a PE ratio of -153.00 and a beta of 2.16. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10. Limelight Networks has a 12 month low of $2.20 and a 12 month high of $5.11. The company’s fifty day moving average price is $2.89 and its 200 day moving average price is $2.83.
Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings data on Wednesday, July 17th. The information services provider reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.02). The business had revenue of $45.90 million during the quarter, compared to analyst estimates of $46.40 million. Limelight Networks had a negative net margin of 11.63% and a negative return on equity of 13.07%. The firm’s revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 EPS. On average, research analysts forecast that Limelight Networks will post -0.13 earnings per share for the current year.
In other news, SVP Thomas Marth purchased 21,550 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was acquired at an average price of $2.32 per share, for a total transaction of $49,996.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sajid Malhotra purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were purchased at an average price of $2.28 per share, with a total value of $45,600.00. The disclosure for this purchase can be found here. 10.40% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. River & Mercantile Asset Management LLP purchased a new position in shares of Limelight Networks during the 2nd quarter worth approximately $1,364,000. Harvey Partners LLC boosted its position in shares of Limelight Networks by 10.3% during the 2nd quarter. Harvey Partners LLC now owns 645,000 shares of the information services provider’s stock worth $1,742,000 after purchasing an additional 60,000 shares during the period. United Services Automobile Association boosted its position in shares of Limelight Networks by 2.1% during the 2nd quarter. United Services Automobile Association now owns 1,410,143 shares of the information services provider’s stock worth $3,807,000 after purchasing an additional 29,200 shares during the period. Nuveen Asset Management LLC purchased a new position in shares of Limelight Networks during the 2nd quarter worth approximately $3,839,000. Finally, Jane Street Group LLC purchased a new position in shares of Limelight Networks during the 2nd quarter worth approximately $61,000. Institutional investors and hedge funds own 76.19% of the company’s stock.
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, social, and other digital initiatives.
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