Limelight Networks Price Target Raised to $4.50 at DA Davidson (LLNW)
Stock analysts at DA Davidson raised their price target on shares of Limelight Networks (NASDAQ:LLNW) from $3.00 to $4.50 in a report issued on Tuesday. The firm currently has a “buy” rating on the stock. DA Davidson’s price target suggests a potential upside of 52.03% from the company’s current price.
In other Limelight Networks news, SVP Sajid Malhotra purchased 100,000 shares of the stock in a transaction dated Wednesday, June 4th. The stock was purchased at an average cost of $2.45 per share, for a total transaction of $245,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Separately, analysts at FBR Capital Markets cut their price target on shares of Limelight Networks from $3.50 to $2.00 in a research note on Wednesday, May 7th. They now have a “market perform” rating on the stock.
Limelight Networks (NASDAQ:LLNW) traded up 2.53% during mid-day trading on Tuesday, hitting $3.035. The stock had a trading volume of 862,800 shares. Limelight Networks has a 52-week low of $1.82 and a 52-week high of $3.19. The stock has a 50-day moving average of $2.18 and a 200-day moving average of $2.10. The company’s market cap is $298.9 million.
Limelight Networks (NASDAQ:LLNW) last announced its earnings results on Tuesday, May 6th. The company reported ($0.04) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.07) by $0.03. The company had revenue of $41.20 million for the quarter, compared to the consensus estimate of $38.91 million. During the same quarter last year, the company posted ($0.04) earnings per share. Limelight Networks’s revenue was down 10.1% compared to the same quarter last year. On average, analysts predict that Limelight Networks will post $-0.25 earnings per share for the current fiscal year.
Limelight Networks, Inc (NASDAQ:LLNW) operates a globally distributed, high-performance computing platform (its global computing platform) upon which it provides an integrated suite of services, including content delivery services, Web content management services, video content management services, Web acceleration services, mobility and monetization services, cloud storage services and related consulting services.
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