Limelight Networks (NASDAQ:LLNW) Rating Lowered to Sell at Zacks Investment Research

Limelight Networks (NASDAQ:LLNW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

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. “

Several other equities analysts have also recently issued reports on LLNW. ValuEngine cut shares of Limelight Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. BidaskClub raised shares of Limelight Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, January 8th. DA Davidson boosted their target price on shares of Limelight Networks to $4.10 and gave the company a “neutral” rating in a report on Wednesday, December 11th. Finally, B. Riley upped their price target on shares of Limelight Networks from $3.70 to $4.10 and gave the company a “buy” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $4.10.

NASDAQ LLNW traded up $0.36 on Tuesday, hitting $5.23. The company’s stock had a trading volume of 136,079 shares, compared to its average volume of 682,763. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.08. Limelight Networks has a 1-year low of $2.20 and a 1-year high of $4.91. The company’s 50-day moving average is $4.18 and its 200 day moving average is $3.36. The firm has a market cap of $523.19 million, a PE ratio of -262.00 and a beta of 2.15.

Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings results on Wednesday, October 16th. The information services provider reported $0.01 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.01. Limelight Networks had a negative net margin of 12.84% and a negative return on equity of 14.82%. The firm had revenue of $51.32 million during the quarter, compared to analysts’ expectations of $49.89 million. During the same period in the prior year, the company posted $0.03 EPS. The company’s revenue was up 4.1% on a year-over-year basis. On average, equities analysts expect that Limelight Networks will post -0.14 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC acquired a new position in Limelight Networks in the third quarter valued at approximately $56,000. Traynor Capital Management Inc. acquired a new position in shares of Limelight Networks during the 3rd quarter valued at $60,000. Jane Street Group LLC acquired a new position in shares of Limelight Networks during the 2nd quarter valued at $61,000. FNY Investment Advisers LLC bought a new position in Limelight Networks during the third quarter worth $121,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in Limelight Networks by 12.6% during the third quarter. Creative Financial Designs Inc. ADV now owns 41,900 shares of the information services provider’s stock worth $121,000 after acquiring an additional 4,700 shares in the last quarter. 77.14% of the stock is owned by institutional investors and hedge funds.

About Limelight Networks

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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