Equities research analysts forecast that Limelight Networks, Inc. (NASDAQ:LLNW) will post earnings per share (EPS) of $0.02 for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Limelight Networks’ earnings. Limelight Networks also posted earnings per share of $0.02 in the same quarter last year. The company is expected to report its next earnings results on Monday, April 23rd.
According to Zacks, analysts expect that Limelight Networks will report full year earnings of $0.11 per share for the current fiscal year. For the next year, analysts anticipate that the business will post earnings of $0.16 per share, with EPS estimates ranging from $0.13 to $0.19. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Limelight Networks.
Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $48.19 million for the quarter, compared to analysts’ expectations of $47.74 million. Limelight Networks had a negative net margin of 4.14% and a negative return on equity of 1.50%. The business’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company earned $0.02 EPS.
LLNW has been the topic of a number of analyst reports. B. Riley reaffirmed a “buy” rating and set a $6.00 price objective on shares of Limelight Networks in a research note on Wednesday, December 13th. BidaskClub cut shares of Limelight Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, Zacks Investment Research cut shares of Limelight Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $5.63.
In other news, Director Mark J. Midle sold 15,000,000 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 37.60% of the company’s stock.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Limelight Networks by 1.3% during the 4th quarter. BlackRock Inc. now owns 6,934,194 shares of the information services provider’s stock valued at $30,580,000 after buying an additional 88,510 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Limelight Networks by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,872,233 shares of the information services provider’s stock valued at $11,191,000 after buying an additional 50,901 shares in the last quarter. Hood River Capital Management LLC lifted its position in shares of Limelight Networks by 102.6% during the 4th quarter. Hood River Capital Management LLC now owns 3,461,955 shares of the information services provider’s stock valued at $15,267,000 after buying an additional 1,753,125 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Limelight Networks by 18.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,970,655 shares of the information services provider’s stock valued at $13,101,000 after buying an additional 462,800 shares in the last quarter. Finally, B. Riley Financial Inc. purchased a new position in shares of Limelight Networks during the 4th quarter valued at approximately $8,314,000. Hedge funds and other institutional investors own 73.71% of the company’s stock.
Shares of Limelight Networks (LLNW) traded down $0.12 during midday trading on Thursday, hitting $3.81. 563,925 shares of the stock were exchanged, compared to its average volume of 701,115. The firm has a market cap of $435.55, a PE ratio of -54.42 and a beta of 2.45. Limelight Networks has a twelve month low of $2.10 and a twelve month high of $6.05.
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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