Shares of Limelight Networks, Inc. (NASDAQ:LLNW) have been given an average rating of “Buy” by the seven analysts that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $3.43.

LLNW has been the subject of several research analyst reports. Zacks Investment Research raised shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a research note on Friday, April 28th. Cowen and Company set a $4.00 target price on shares of Limelight Networks and gave the stock a “buy” rating in a research note on Tuesday, April 25th. TheStreet raised shares of Limelight Networks from a “d+” rating to a “c” rating in a research note on Thursday, July 27th. BidaskClub raised shares of Limelight Networks from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Finally, B. Riley reaffirmed a “buy” rating and set a $4.00 target price on shares of Limelight Networks in a research note on Tuesday, April 25th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hood River Capital Management LLC bought a new position in shares of Limelight Networks during the first quarter valued at $6,907,000. JPMorgan Chase & Co. raised its position in Limelight Networks by 1,161.5% in the first quarter. JPMorgan Chase & Co. now owns 1,731,810 shares of the information services provider’s stock valued at $4,468,000 after buying an additional 1,594,523 shares during the last quarter. Cortina Asset Management LLC raised its position in Limelight Networks by 25.0% in the first quarter. Cortina Asset Management LLC now owns 3,550,985 shares of the information services provider’s stock valued at $9,162,000 after buying an additional 710,677 shares during the last quarter. Vanguard Group Inc. raised its position in Limelight Networks by 24.0% in the first quarter. Vanguard Group Inc. now owns 3,307,238 shares of the information services provider’s stock valued at $8,533,000 after buying an additional 639,265 shares during the last quarter. Finally, First Washington CORP raised its position in Limelight Networks by 77.0% in the first quarter. First Washington CORP now owns 1,235,121 shares of the information services provider’s stock valued at $3,187,000 after buying an additional 537,362 shares during the last quarter. 67.94% of the stock is owned by institutional investors.

Shares of Limelight Networks (NASDAQ:LLNW) traded down 0.28% during midday trading on Friday, reaching $3.59. 266,185 shares of the company were exchanged. The firm has a 50-day moving average of $3.33 and a 200 day moving average of $2.83. Limelight Networks has a 52 week low of $1.45 and a 52 week high of $3.78. The firm’s market capitalization is $392.20 million.

Limelight Networks (NASDAQ:LLNW) last announced its earnings results on Wednesday, July 26th. The information services provider reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The company had revenue of $45.37 million during the quarter, compared to analyst estimates of $45.25 million. Limelight Networks had a negative net margin of 8.65% and a negative return on equity of 5.03%. Limelight Networks’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 earnings per share. On average, equities research analysts expect that Limelight Networks will post $0.06 EPS for the current year.

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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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