Limelight Networks, Inc. (NASDAQ:LLNW) Given Average Rating of “Hold” by Brokerages

Limelight Networks, Inc. (NASDAQ:LLNW) has been given an average recommendation of “Hold” by the eleven ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $4.30.

Several research analysts recently weighed in on the company. Zacks Investment Research raised Limelight Networks from a “sell” rating to a “hold” rating in a research note on Tuesday, August 3rd. Lake Street Capital reduced their target price on Limelight Networks from $5.50 to $4.50 and set a “buy” rating for the company in a report on Friday, July 30th. The Goldman Sachs Group reduced their target price on Limelight Networks from $2.50 to $2.25 and set a “sell” rating for the company in a report on Tuesday, August 3rd. DA Davidson raised Limelight Networks from an “underperform” rating to a “neutral” rating in a report on Friday, July 30th. Finally, Raymond James initiated coverage on Limelight Networks in a report on Monday, August 9th. They set a “market perform” rating for the company.

LLNW stock traded down $0.11 during trading hours on Tuesday, hitting $2.41. 3,569,834 shares of the stock traded hands, compared to its average volume of 2,999,244. The stock has a 50-day simple moving average of $2.66 and a 200 day simple moving average of $3.09. Limelight Networks has a one year low of $2.38 and a one year high of $7.04. The company has a market cap of $305.36 million, a P/E ratio of -6.00 and a beta of 0.48. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.93.

Limelight Networks (NASDAQ:LLNW) last announced its earnings results on Thursday, July 29th. The information services provider reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. Limelight Networks had a negative return on equity of 22.68% and a negative net margin of 24.06%. The business had revenue of $48.35 million during the quarter, compared to analysts’ expectations of $53.24 million. Analysts forecast that Limelight Networks will post -0.24 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in LLNW. State Street Corp lifted its stake in Limelight Networks by 33.7% in the 2nd quarter. State Street Corp now owns 3,893,675 shares of the information services provider’s stock worth $12,265,000 after acquiring an additional 981,570 shares in the last quarter. UBS Group AG lifted its stake in Limelight Networks by 63.9% in the 1st quarter. UBS Group AG now owns 2,258,634 shares of the information services provider’s stock worth $8,063,000 after acquiring an additional 880,192 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new stake in Limelight Networks in the 1st quarter worth about $2,934,000. M&G Investment Management Ltd. purchased a new stake in Limelight Networks in the 2nd quarter worth about $2,325,000. Finally, Penserra Capital Management LLC lifted its stake in Limelight Networks by 51.8% in the 2nd quarter. Penserra Capital Management LLC now owns 1,949,258 shares of the information services provider’s stock worth $6,140,000 after acquiring an additional 665,299 shares in the last quarter. 55.20% of the stock is owned by hedge funds and other institutional investors.

About Limelight Networks

Limelight Networks, Inc engages in the provision of content delivery network services. Its products include digital content and video delivery, cloud security, edge computing, origin storage and support services. The company’s solutions include realtime streaming, file distribution, live video and video on demand.

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Analyst Recommendations for Limelight Networks (NASDAQ:LLNW)

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