Limelight Networks Inc. (NASDAQ:LLNW) Given Consensus Recommendation of “Buy” by Brokerages
Limelight Networks Inc. (NASDAQ:LLNW) has earned a consensus recommendation of “Buy” from the six research firms that are covering the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $2.99.
LLNW has been the subject of several recent analyst reports. B. Riley reissued a “buy” rating and issued a $3.70 price objective on shares of Limelight Networks in a report on Tuesday, July 5th. Zacks Investment Research raised Limelight Networks from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a report on Wednesday, August 3rd. Finally, FBR & Co increased their price objective on Limelight Networks from $1.50 to $2.50 and gave the company a “market perform” rating in a report on Thursday, September 1st.
Shares of Limelight Networks (NASDAQ:LLNW) traded down 0.62% on Tuesday, hitting $1.59. 42,783 shares of the company’s stock traded hands. The company’s market cap is $166.43 million. Limelight Networks has a 1-year low of $0.90 and a 1-year high of $2.35. The firm’s 50-day moving average price is $1.75 and its 200 day moving average price is $1.61.
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Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. The company earned $43.56 million during the quarter, compared to the consensus estimate of $43.84 million. Limelight Networks had a negative return on equity of 9.88% and a negative net margin of 42.85%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) EPS. On average, equities research analysts expect that Limelight Networks will post $0.01 earnings per share for the current year.
A number of large investors have recently bought and sold shares of LLNW. Cowen Group Inc. boosted its stake in Limelight Networks by 5.1% in the second quarter. Cowen Group Inc. now owns 102,500 shares of the company’s stock worth $153,000 after buying an additional 5,000 shares during the period. Alliancebernstein L.P. boosted its position in Limelight Networks by 1.2% in the second quarter. Alliancebernstein L.P. now owns 119,600 shares of the company’s stock valued at $178,000 after buying an additional 1,400 shares during the last quarter. Teachers Advisors Inc. boosted its position in Limelight Networks by 19.1% in the second quarter. Teachers Advisors Inc. now owns 119,852 shares of the company’s stock valued at $179,000 after buying an additional 19,213 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in Limelight Networks during the second quarter valued at $184,000. Finally, California State Teachers Retirement System boosted its position in Limelight Networks by 14.8% in the second quarter. California State Teachers Retirement System now owns 148,793 shares of the company’s stock valued at $222,000 after buying an additional 19,234 shares during the last quarter. Institutional investors and hedge funds own 66.34% of the company’s stock.
About Limelight Networks
Limelight Networks, Inc provides content delivery network services to deliver content over Internet. The Company operates a globally distributed, computing platform and provides services under the Orchestrate Platform, which include content delivery, video content management, Website and Web application acceleration, Website and content security and cloud storage services.
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