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

Limelight Networks, Inc. (NASDAQ:LLNW) has been given a consensus rating of “Buy” by the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $8.75.

Several brokerages recently issued reports on LLNW. Oppenheimer raised their target price on shares of Limelight Networks from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. DA Davidson restated a “neutral” rating on shares of Limelight Networks in a research report on Tuesday, July 21st. Raymond James boosted their price target on shares of Limelight Networks from $6.00 to $8.50 and gave the stock an “outperform” rating in a research report on Friday, June 26th. B. Riley boosted their price target on shares of Limelight Networks from $7.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Finally, BidaskClub upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating in a report on Wednesday.

In related news, CEO Robert A. Lento sold 20,833 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $7.41, for a total transaction of $154,372.53. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Disanto sold 24,282 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $7.54, for a total transaction of $183,086.28. Following the sale, the insider now directly owns 896,074 shares in the company, valued at $6,756,397.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 372,597 shares of company stock worth $2,655,063. Company insiders own 11.70% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. American International Group Inc. increased its stake in Limelight Networks by 3.7% during the 2nd quarter. American International Group Inc. now owns 70,984 shares of the information services provider’s stock worth $522,000 after buying an additional 2,543 shares during the period. Swiss National Bank increased its position in shares of Limelight Networks by 1.6% in the 1st quarter. Swiss National Bank now owns 226,000 shares of the information services provider’s stock valued at $1,288,000 after purchasing an additional 3,500 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Limelight Networks by 17.0% in the 1st quarter. SG Americas Securities LLC now owns 24,449 shares of the information services provider’s stock valued at $139,000 after purchasing an additional 3,550 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Limelight Networks by 57.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,691 shares of the information services provider’s stock valued at $71,000 after purchasing an additional 3,551 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of Limelight Networks by 40.0% in the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 16,100 shares of the information services provider’s stock valued at $118,000 after purchasing an additional 4,600 shares during the last quarter. 79.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:LLNW traded up $0.10 on Tuesday, hitting $5.78. 1,690,738 shares of the company were exchanged, compared to its average volume of 2,511,032. Limelight Networks has a 1-year low of $2.78 and a 1-year high of $8.19. The stock’s 50 day moving average price is $5.78 and its 200 day moving average price is $5.75. The firm has a market capitalization of $705.58 million, a P/E ratio of -115.60 and a beta of 0.60.

Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings data on Monday, July 20th. The information services provider reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. Limelight Networks had a negative net margin of 3.21% and a negative return on equity of 4.42%. The business had revenue of $58.55 million during the quarter, compared to the consensus estimate of $56.72 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. On average, sell-side analysts forecast that Limelight Networks will post -0.07 EPS for the current fiscal year.

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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Analyst Recommendations for Limelight Networks (NASDAQ:LLNW)

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