Limelight Networks (NASDAQ:LLNW) had its target price increased by stock analysts at B. Riley from $3.70 to $4.10 in a research report issued on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the information services provider’s stock. B. Riley’s target price suggests a potential upside of 5.94% from the stock’s previous close.
LLNW has been the topic of several other reports. DA Davidson reiterated a “neutral” rating and issued a $2.70 price target on shares of Limelight Networks in a research report on Tuesday, July 2nd. ValuEngine upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded shares of Limelight Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th. Finally, BidaskClub upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $3.40.
Shares of LLNW stock traded up $0.12 during trading hours on Thursday, hitting $3.87. The company’s stock had a trading volume of 3,389,458 shares, compared to its average volume of 1,090,843. The business has a fifty day moving average of $2.98 and a 200-day moving average of $2.83. The stock has a market cap of $435.75 million, a price-to-earnings ratio of -193.50 and a beta of 2.16. Limelight Networks has a twelve month low of $2.20 and a twelve month high of $4.61. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01.
Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings results on Wednesday, October 16th. The information services provider reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $51.32 million for the quarter, compared to analyst estimates of $49.89 million. Limelight Networks had a negative net margin of 12.84% and a negative return on equity of 14.77%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.03 earnings per share. On average, equities analysts expect that Limelight Networks will post -0.13 EPS for the current fiscal year.
In other news, SVP Thomas Marth bought 21,550 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were purchased at an average price of $2.32 per share, for a total transaction of $49,996.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sajid Malhotra bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were purchased at an average price of $2.28 per share, for a total transaction of $45,600.00. The disclosure for this purchase can be found here. 10.40% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cibc Bank USA acquired a new stake in Limelight Networks during the second quarter worth approximately $54,000. Jane Street Group LLC purchased a new position in Limelight Networks during the second quarter worth approximately $61,000. GSA Capital Partners LLP purchased a new position in Limelight Networks during the second quarter worth approximately $73,000. B. Riley Wealth Management Inc. purchased a new position in Limelight Networks during the first quarter worth approximately $119,000. Finally, Municipal Employees Retirement System of Michigan purchased a new position in Limelight Networks during the second quarter worth approximately $324,000. Hedge funds and other institutional investors own 76.19% of the company’s stock.
Limelight Networks Company Profile
Limelight Networks, Inc provides content delivery and related services and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers services and solutions for businesses to deliver their digital content across Internet, mobile, social, and other digital initiatives.
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