$47.72 Million in Sales Expected for Limelight Networks, Inc. (LLNW) This Quarter
Wall Street brokerages expect that Limelight Networks, Inc. (NASDAQ:LLNW) will report sales of $47.72 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Limelight Networks’ earnings. The highest sales estimate is $48.33 million and the lowest is $47.33 million. Limelight Networks reported sales of $43.78 million during the same quarter last year, which indicates a positive year-over-year growth rate of 9%. The firm is expected to report its next earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that Limelight Networks will report full-year sales of $47.72 million for the current year, with estimates ranging from $181.39 million to $183.70 million. For the next fiscal year, analysts anticipate that the company will post sales of $193.93 million per share, with estimates ranging from $191.36 million to $195.95 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Limelight Networks.
Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings results on Wednesday, October 18th. The information services provider reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $46.07 million for the quarter, compared to analyst estimates of $43.09 million. Limelight Networks had a negative net margin of 5.91% and a negative return on equity of 3.29%. The company’s revenue for the quarter was up 16.7% on a year-over-year basis.
Several equities research analysts have recently weighed in on LLNW shares. Zacks Investment Research raised shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Friday, October 20th. BidaskClub raised shares of Limelight Networks from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. DA Davidson set a $5.50 target price on shares of Limelight Networks and gave the company a “buy” rating in a research note on Monday, October 16th. B. Riley increased their target price on shares of Limelight Networks from $5.30 to $6.00 and gave the company a “buy” rating in a research note on Thursday, October 19th. Finally, TheStreet raised shares of Limelight Networks from a “d+” rating to a “c” rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $5.00.
Hedge funds and other institutional investors have recently bought and sold shares of the company. American International Group Inc. grew its holdings 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 worth $113,000 after purchasing an additional 2,913 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Limelight Networks by 26.8% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 48,570 shares of the information services provider’s stock worth $140,000 after purchasing an additional 10,270 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Limelight Networks by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 66,823 shares of the information services provider’s stock worth $193,000 after purchasing an additional 3,090 shares during the last quarter. OxFORD Asset Management LLP grew its holdings in shares of Limelight Networks by 115.3% in the second quarter. OxFORD Asset Management LLP now owns 72,171 shares of the information services provider’s stock worth $209,000 after purchasing an additional 38,647 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Limelight Networks in the second quarter worth about $220,000. Hedge funds and other institutional investors own 68.71% of the company’s stock.
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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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