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

Limelight Networks, Inc. (NASDAQ:LLNWGet Rating) has been assigned an average rating of “Buy” from the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $5.34.

A number of equities analysts have commented on the stock. Raymond James lifted their price objective on shares of Limelight Networks from $5.00 to $8.00 and gave the stock a “strong-buy” rating in a research note on Friday, March 11th. Cowen raised Limelight Networks from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $4.00 to $6.00 in a research note on Thursday, March 17th. Zacks Investment Research upgraded Limelight Networks from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research report on Tuesday, May 31st. StockNews.com upgraded Limelight Networks from a “sell” rating to a “hold” rating in a report on Friday, June 3rd. Finally, TheStreet downgraded Limelight Networks from a “c-” rating to a “d+” rating in a research report on Monday, May 16th.

Shares of NASDAQ:LLNW opened at $2.77 on Thursday. The firm has a market cap of $382.80 million, a price-to-earnings ratio of -7.10 and a beta of 0.83. The firm has a fifty day moving average price of $4.04 and a 200 day moving average price of $3.91. Limelight Networks has a fifty-two week low of $2.30 and a fifty-two week high of $5.55. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.31 and a current ratio of 3.31.

Limelight Networks (NASDAQ:LLNWGet Rating) last posted its earnings results on Thursday, April 28th. The information services provider reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). Limelight Networks had a negative return on equity of 24.22% and a negative net margin of 22.60%. The firm had revenue of $58.00 million during the quarter, compared to the consensus estimate of $56.15 million. During the same period in the prior year, the company earned ($0.11) EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, research analysts predict that Limelight Networks will post -0.2 earnings per share for the current year.

In other news, CEO Bob Lyons purchased 55,501 shares of the stock in a transaction that occurred on Wednesday, May 4th. The stock was purchased at an average price of $3.60 per share, for a total transaction of $199,803.60. Following the completion of the acquisition, the chief executive officer now owns 1,123,963 shares of the company’s stock, valued at $4,046,266.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Peterschmidt acquired 68,100 shares of the company’s stock in a transaction that occurred on Friday, April 29th. The stock was purchased at an average cost of $3.59 per share, for a total transaction of $244,479.00. Following the purchase, the director now owns 144,175 shares of the company’s stock, valued at $517,588.25. The disclosure for this purchase can be found here. Corporate insiders own 10.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd bought a new position in shares of Limelight Networks in the 1st quarter worth $47,000. Janus Henderson Group PLC purchased a new stake in shares of Limelight Networks during the third quarter valued at about $30,000. Independent Advisor Alliance bought a new stake in shares of Limelight Networks in the 1st quarter valued at about $67,000. GSA Capital Partners LLP bought a new stake in shares of Limelight Networks in the 1st quarter valued at about $68,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Limelight Networks in the 4th quarter worth approximately $52,000. 51.29% of the stock is currently owned by institutional investors and hedge funds.

Limelight Networks Company Profile (Get Rating)

Limelight Networks, Inc provides content delivery network and related services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates private global networks with distributed computing resources and extensive connectivity to last-mile broadband network providers; offers live and on-demand video delivery services; and provides online video platforms that integrates and manages advanced video delivery.

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