Equities Analysts Offer Predictions for Edgio, Inc.’s FY2023 Earnings (NASDAQ:EGIO)

Edgio, Inc. (NASDAQ:EGIO – Get Rating) – Investment analysts at DA Davidson increased their FY2023 earnings per share estimates for Edgio in a report released on Tuesday, March 14th. DA Davidson analyst R. Kessinger now expects that the company will earn ($0.36) per share for the year, up from their previous estimate of ($0.37). The consensus estimate for Edgio’s current full-year earnings is ($0.32) per share.

Other research analysts have also issued research reports about the company. Lake Street Capital set a $2.50 price target on Edgio in a report on Thursday, December 15th. Craig Hallum reaffirmed a “hold” rating and set a $1.00 price target (down from $2.50) on shares of Edgio in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $2.70.

Edgio Stock Up 1.2 %

Shares of Edgio stock opened at $0.83 on Thursday. Edgio has a one year low of $0.79 and a one year high of $5.55. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.61 and a quick ratio of 1.61. The stock’s 50-day moving average is $1.35 and its 200 day moving average is $1.92. The firm has a market cap of $184.80 million, a price-to-earnings ratio of -1.67 and a beta of 0.97.

Hedge Funds Weigh In On Edgio

Large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD bought a new stake in Edgio during the fourth quarter valued at $26,000. Willis Johnson & Associates Inc. bought a new stake in Edgio during the fourth quarter valued at $28,000. Mercer Global Advisors Inc. ADV bought a new stake in Edgio during the fourth quarter valued at $28,000. MetLife Investment Management LLC bought a new stake in Edgio during the fourth quarter valued at $28,000. Finally, Thompson Davis & CO. Inc. bought a new stake in Edgio during the fourth quarter valued at $31,000. 35.45% of the stock is owned by institutional investors.

About Edgio

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Edgio, Inc engages in the provision of content delivery network services. Its products include digital content and video delivery, cloud security, edge computing, origin storage and support services. The firm’s solutions include realtime streaming, file distribution, live video and video on demand. The company was founded by Michael M.