$45.83 Million in Sales Expected for Limelight Networks, Inc. (LLNW) This Quarter
Wall Street analysts expect Limelight Networks, Inc. (NASDAQ:LLNW) to announce $45.83 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Limelight Networks’ earnings, with estimates ranging from $45.30 million to $46.70 million. Limelight Networks posted sales of $43.56 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.2%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, July 26th.
On average, analysts expect that Limelight Networks will report full year sales of $45.83 million for the current fiscal year, with estimates ranging from $179.33 million to $180.70 million. For the next year, analysts expect that the firm will post sales of $189.96 million per share, with estimates ranging from $187.42 million to $194.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Limelight Networks.
Limelight Networks (NASDAQ:LLNW) last posted its earnings results on Monday, April 24th. The information services provider reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $44.70 million for the quarter, compared to the consensus estimate of $43.01 million. Limelight Networks had a negative return on equity of 6.69% and a negative net margin of 39.80%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.01) earnings per share.
Several equities research analysts have issued reports on LLNW shares. Cowen and Company set a $4.00 price objective on shares of Limelight Networks and gave the company a “buy” rating in a research report on Tuesday, April 25th. B. Riley reissued a “buy” rating and issued a $4.00 price objective on shares of Limelight Networks in a research report on Tuesday, April 25th. DA Davidson reissued a “buy” rating on shares of Limelight Networks in a research report on Monday, April 3rd. Finally, Zacks Investment Research raised shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a research report on Friday, April 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Limelight Networks has a consensus rating of “Buy” and an average price target of $3.38.
Limelight Networks (NASDAQ LLNW) traded up 2.33% on Friday, hitting $3.07. 158,170 shares of the stock traded hands. The company’s 50 day moving average price is $2.99 and its 200-day moving average price is $2.60. Limelight Networks has a 52-week low of $1.38 and a 52-week high of $3.51. The stock’s market cap is $331.49 million.
Large investors have recently made changes to their positions in the company. American International Group Inc. boosted its stake in shares of Limelight Networks by 7.1% in the first quarter. American International Group Inc. now owns 43,718 shares of the information services provider’s stock valued at $113,000 after buying an additional 2,913 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Limelight Networks during the fourth quarter valued at $173,000. Strs Ohio boosted its stake in shares of Limelight Networks by 58.4% in the first quarter. Strs Ohio now owns 68,100 shares of the information services provider’s stock valued at $175,000 after buying an additional 25,100 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Limelight Networks during the first quarter valued at $214,000. Finally, A.R.T. Advisors LLC boosted its stake in shares of Limelight Networks by 206.3% in the fourth quarter. A.R.T. Advisors LLC now owns 84,575 shares of the information services provider’s stock valued at $213,000 after buying an additional 56,959 shares during the last quarter. 68.88% of the stock is owned by hedge funds and other institutional investors.
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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