Limelight Networks, Inc. (NASDAQ:LLNW) Announces Quarterly Earnings Results
Limelight Networks, Inc. (NASDAQ:LLNW) posted its quarterly earnings data on Wednesday. The information services provider reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02, Bloomberg Earnings reports. The firm had revenue of $45.37 million for the quarter, compared to the consensus estimate of $45.25 million. Limelight Networks had a negative return on equity of 6.69% and a negative net margin of 39.80%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.01 EPS. Limelight Networks updated its FY17 guidance to $0.05-0.07 EPS.
Shares of Limelight Networks (NASDAQ LLNW) traded up 2.13% during trading on Wednesday, hitting $3.35. The stock had a trading volume of 576,394 shares. Limelight Networks has a 1-year low of $1.45 and a 1-year high of $3.51. The firm has a 50 day moving average of $3.01 and a 200 day moving average of $2.68. The company’s market capitalization is $361.73 million.
Several analysts have issued reports on the company. BidaskClub upgraded Limelight Networks from a “hold” rating to a “buy” rating in a report on Monday. Zacks Investment Research downgraded Limelight Networks from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. B. Riley restated a “buy” rating and set a $4.00 price objective on shares of Limelight Networks in a report on Sunday, April 30th. Cowen and Company boosted their price objective on Limelight Networks from $3.00 to $3.50 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Finally, DA Davidson restated a “buy” rating on shares of Limelight Networks in a report on Monday, April 3rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Limelight Networks presently has a consensus rating of “Buy” and a consensus price target of $3.38.
About Limelight Networks
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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