Equities analysts expect Limelight Networks, Inc. (NASDAQ:LLNW) to announce $47.62 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Limelight Networks’ earnings, with the highest sales estimate coming in at $48.02 million and the lowest estimate coming in at $47.33 million. Limelight Networks posted sales of $43.78 million during the same quarter last year, which suggests a positive year over year growth rate of 8.8%. The business is expected to announce its next quarterly earnings report after the market closes on Wednesday, February 7th.
On average, analysts expect that Limelight Networks will report full year sales of $47.62 million for the current financial year, with estimates ranging from $183.50 million to $184.19 million. For the next fiscal year, analysts expect that the business will post sales of $196.61 million per share, with estimates ranging from $194.50 million to $199.39 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Limelight Networks.
Limelight Networks (NASDAQ:LLNW) last released its earnings results on Wednesday, October 18th. The information services provider reported $0.02 earnings per share for the quarter. Limelight Networks had a negative return on equity of 3.29% and a negative net margin of 5.91%. The business had revenue of $46.07 million for the quarter, compared to analyst estimates of $43.09 million. The company’s revenue was up 16.7% on a year-over-year basis.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded Limelight Networks from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a research note on Thursday, September 28th. B. Riley reiterated a “buy” rating and issued a $6.00 target price on shares of Limelight Networks in a research note on Friday, January 5th. DA Davidson set a $5.50 target price on Limelight Networks and gave the stock a “buy” rating in a research note on Monday, October 16th. Finally, BidaskClub lowered Limelight Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $5.00.
In other news, Director Mark J. Midle sold 15,000,000 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $4.35, for a total transaction of $65,250,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 37.60% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Algert Global LLC grew its position in shares of Limelight Networks by 16.3% during the 3rd quarter. Algert Global LLC now owns 455,787 shares of the information services provider’s stock worth $1,809,000 after buying an additional 63,770 shares in the last quarter. Wolverine Trading LLC grew its position in shares of Limelight Networks by 761.3% during the 3rd quarter. Wolverine Trading LLC now owns 37,766 shares of the information services provider’s stock worth $150,000 after buying an additional 43,477 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Limelight Networks by 61.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 147,000 shares of the information services provider’s stock worth $584,000 after buying an additional 56,100 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Limelight Networks by 72.8% during the 3rd quarter. Wells Fargo & Company MN now owns 77,272 shares of the information services provider’s stock worth $307,000 after buying an additional 32,543 shares in the last quarter. Finally, EAM Investors LLC grew its position in shares of Limelight Networks by 64.8% during the 3rd quarter. EAM Investors LLC now owns 714,391 shares of the information services provider’s stock worth $2,836,000 after buying an additional 281,022 shares in the last quarter. 69.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of Limelight Networks (NASDAQ:LLNW) opened at $4.23 on Friday. Limelight Networks has a 52 week low of $2.02 and a 52 week high of $6.05. The firm has a market capitalization of $484.75, a price-to-earnings ratio of -42.30, a price-to-earnings-growth ratio of 660.00 and a beta of 2.54.
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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