Limelight Networks Inc. (NASDAQ:LLNW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “LIMELIGHT NETWORKS, INC. is a content delivery partner enabling the next wave of Internet business and entertainment. More than 1300 Internet, entertainment, software, and technology brands trust their robust, scalable platform to monetize their digital assets by delivering a brilliant online experience to their global audience. LimeLight’s architecture bypasses the busy public Internet using a dedicated optical network that interconnects thousands of servers and delivers massive files at the speed of light — directly to the access networks that consumers use every day. LimeLight’s proven network and passion for service assures their customers that every object in their library will be instantly delivered to every user, every time. “
A number of other brokerages also recently commented on LLNW. B. Riley restated a “buy” rating and issued a $3.70 target price on shares of Limelight Networks in a research note on Tuesday, September 6th. FBR & Co upped their target price on Limelight Networks from $1.50 to $2.50 and gave the stock a “market perform” rating in a research note on Thursday, September 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $2.99.
Shares of Limelight Networks (NASDAQ:LLNW) opened at 1.81 on Wednesday. Limelight Networks has a 1-year low of $0.90 and a 1-year high of $2.22. The firm has a 50-day moving average price of $1.74 and a 200-day moving average price of $1.61. The company’s market cap is $189.46 million.
Limelight Networks (NASDAQ:LLNW) last issued its earnings results on Wednesday, July 27th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Limelight Networks had a negative return on equity of 9.88% and a negative net margin of 42.85%. The firm had revenue of $43.56 million for the quarter, compared to the consensus estimate of $43.84 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. The company’s revenue was down .5% compared to the same quarter last year. On average, equities analysts expect that Limelight Networks will post $0.01 EPS for the current year.
A number of institutional investors have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. increased its position in shares of Limelight Networks by 39.9% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 915,911 shares of the company’s stock worth $1,365,000 after buying an additional 261,100 shares in the last quarter. Spark Investment Management LLC boosted its position in shares of Limelight Networks by 22.9% in the first quarter. Spark Investment Management LLC now owns 544,900 shares of the company’s stock worth $986,000 after buying an additional 101,600 shares during the last quarter. Algert Global LLC boosted its position in shares of Limelight Networks by 92.4% in the first quarter. Algert Global LLC now owns 204,994 shares of the company’s stock worth $371,000 after buying an additional 98,454 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Limelight Networks by 17.0% in the first quarter. Renaissance Technologies LLC now owns 1,994,247 shares of the company’s stock worth $3,610,000 after buying an additional 290,392 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Limelight Networks by 10.9% in the first quarter. State Street Corp now owns 1,060,478 shares of the company’s stock worth $1,921,000 after buying an additional 104,480 shares during the last quarter. Institutional investors own 66.34% of the company’s stock.
Limelight Networks Company Profile
Limelight Networks, Inc provides content delivery network services to deliver content over Internet. The Company operates a globally distributed, computing platform and provides services under the Orchestrate Platform, which include content delivery, video content management, Website and Web application acceleration, Website and content security and cloud storage services.
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