Limelight Networks (NASDAQ:LLNW) Lowered to Sell at Zacks Investment Research

Limelight Networks (NASDAQ:LLNW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “LIMELIGHT NETWORKS, INC. is a content delivery partner enabling the next wave of Internet business and entertainment. More than 1300 Internet, entertainment, software, and technology brands trust their robust, scalable platform to monetize their digital assets by delivering a brilliant online experience to their global audience. LimeLight’s architecture bypasses the busy public Internet using a dedicated optical network that interconnects thousands of servers and delivers massive files at the speed of light — directly to the access networks that consumers use every day. LimeLight’s proven network and passion for service assures their customers that every object in their library will be instantly delivered to every user, every time. “

Other research analysts also recently issued reports about the company. The Goldman Sachs Group reduced their price objective on Limelight Networks from $2.50 to $2.25 and set a “sell” rating for the company in a research note on Tuesday, August 3rd. DA Davidson upgraded Limelight Networks from an “underperform” rating to a “neutral” rating in a report on Friday, July 30th. Raymond James initiated coverage on Limelight Networks in a report on Monday, August 9th. They issued a “market perform” rating for the company. Finally, Lake Street Capital dropped their target price on Limelight Networks from $5.50 to $4.50 and set a “buy” rating for the company in a report on Friday, July 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $4.61.

NASDAQ LLNW opened at $2.48 on Wednesday. The business has a fifty day moving average price of $2.62 and a 200 day moving average price of $3.05. Limelight Networks has a one year low of $2.38 and a one year high of $7.04. The company has a debt-to-equity ratio of 0.93, a quick ratio of 4.93 and a current ratio of 4.93. The company has a market cap of $314.23 million, a P/E ratio of -5.90 and a beta of 0.48.

Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings data on Thursday, July 29th. The information services provider reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. Limelight Networks had a negative return on equity of 22.68% and a negative net margin of 24.06%. The firm had revenue of $48.35 million during the quarter, compared to the consensus estimate of $53.24 million. As a group, sell-side analysts predict that Limelight Networks will post -0.24 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Limelight Networks by 3.1% in the 1st quarter. BlackRock Inc. now owns 10,385,775 shares of the information services provider’s stock valued at $37,074,000 after purchasing an additional 313,924 shares in the last quarter. State Street Corp raised its position in Limelight Networks by 33.7% in the 2nd quarter. State Street Corp now owns 3,893,675 shares of the information services provider’s stock valued at $12,265,000 after purchasing an additional 981,570 shares in the last quarter. Geode Capital Management LLC raised its position in Limelight Networks by 5.5% in the 2nd quarter. Geode Capital Management LLC now owns 2,304,014 shares of the information services provider’s stock valued at $7,257,000 after purchasing an additional 119,639 shares in the last quarter. UBS Group AG raised its position in Limelight Networks by 63.9% in the 1st quarter. UBS Group AG now owns 2,258,634 shares of the information services provider’s stock valued at $8,063,000 after purchasing an additional 880,192 shares in the last quarter. Finally, Penserra Capital Management LLC raised its position in Limelight Networks by 51.8% in the 2nd quarter. Penserra Capital Management LLC now owns 1,949,258 shares of the information services provider’s stock valued at $6,140,000 after purchasing an additional 665,299 shares in the last quarter. Institutional investors and hedge funds own 55.20% of the company’s stock.

Limelight Networks Company Profile

Limelight Networks, Inc engages in the provision of content delivery network services. Its products include digital content and video delivery, cloud security, edge computing, origin storage and support services. The company’s solutions include realtime streaming, file distribution, live video and video on demand.

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