Limelight Networks (NASDAQ:LLNW) posted its earnings results on Wednesday. The information services provider reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03, Briefing.com reports. Limelight Networks had a negative net margin of 5.91% and a negative return on equity of 3.29%. The business had revenue of $48.19 million for the quarter, compared to analyst estimates of $47.74 million. During the same period last year, the business posted $0.02 EPS. Limelight Networks’s revenue was up 10.1% compared to the same quarter last year. Limelight Networks updated its FY18 guidance to $0.11-0.15 EPS.
Limelight Networks (LLNW) traded down $0.10 during midday trading on Thursday, reaching $4.22. 376,214 shares of the company’s stock traded hands, compared to its average volume of 655,364. The firm has a market cap of $491.36, a price-to-earnings ratio of -43.20, a price-to-earnings-growth ratio of 669.00 and a beta of 2.45. Limelight Networks has a 52 week low of $2.10 and a 52 week high of $6.05.
A number of research analysts recently issued reports on the stock. B. Riley reiterated a “buy” rating and issued a $6.00 target price on shares of Limelight Networks in a research note on Monday, December 4th. Zacks Investment Research upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research report on Friday, October 20th. BidaskClub lowered shares of Limelight Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Cowen restated an “outperform” rating and issued a $6.00 price target (up from $4.00) on shares of Limelight Networks in a research report on Thursday, October 19th. Finally, DA Davidson set a $5.50 price target on shares of Limelight Networks and gave the stock a “buy” rating in a research report on Monday, October 16th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Limelight Networks presently has an average rating of “Buy” and an average target price of $5.00.
A hedge fund recently raised its stake in Limelight Networks stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Limelight Networks, Inc. (NASDAQ:LLNW) by 4.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 66,823 shares of the information services provider’s stock after acquiring an additional 3,090 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Limelight Networks worth $193,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 70.27% of the company’s stock.
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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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