Limelight Networks, Inc. (NASDAQ:LLNW) has received a consensus recommendation of “Buy” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $8.75.
A number of research analysts have recently commented on LLNW shares. BidaskClub upgraded Limelight Networks from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research lowered Limelight Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Raymond James increased their price objective on Limelight Networks from $6.00 to $8.50 and gave the stock an “outperform” rating in a research note on Friday, June 26th. B. Riley increased their price objective on Limelight Networks from $7.50 to $9.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. Finally, Truist began coverage on Limelight Networks in a research note on Friday, September 18th. They set a “buy” rating and a $9.00 price objective for the company.
In related news, SVP Thomas Marth sold 10,080 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $7.32, for a total value of $73,785.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Disanto sold 24,282 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $7.54, for a total value of $183,086.28. Following the completion of the transaction, the insider now owns 896,074 shares in the company, valued at approximately $6,756,397.96. The disclosure for this sale can be found here. Insiders have sold 372,597 shares of company stock worth $2,655,063 in the last 90 days. Company insiders own 11.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. American International Group Inc. lifted its stake in Limelight Networks by 3.7% in the second quarter. American International Group Inc. now owns 70,984 shares of the information services provider’s stock valued at $522,000 after buying an additional 2,543 shares during the period. Swiss National Bank raised its position in shares of Limelight Networks by 1.6% during the first quarter. Swiss National Bank now owns 226,000 shares of the information services provider’s stock worth $1,288,000 after purchasing an additional 3,500 shares during the period. SG Americas Securities LLC raised its position in 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 buying an additional 3,550 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in 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 buying an additional 3,551 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its position in 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 buying an additional 4,600 shares during the last quarter. 79.10% of the stock is currently owned by hedge funds and other institutional investors.
Limelight Networks stock traded up $0.10 during trading hours on Tuesday, reaching $5.78. 1,690,738 shares of the company were exchanged, compared to its average volume of 2,511,032. The firm has a market cap of $705.58 million, a price-to-earnings ratio of -115.60 and a beta of 0.60. The stock has a 50-day moving average of $5.78 and a 200 day moving average of $5.75. Limelight Networks has a 12 month low of $2.78 and a 12 month high of $8.19.
Limelight Networks (NASDAQ:LLNW) last announced its earnings results on Monday, July 20th. The information services provider reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $58.55 million during the quarter, compared to analysts’ expectations of $56.72 million. Limelight Networks had a negative return on equity of 4.42% and a negative net margin of 3.21%. The company’s revenue was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) earnings per share. Equities research analysts forecast that Limelight Networks will post -0.07 earnings per share for the current fiscal year.
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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