Edgio, Inc. (NASDAQ:EGIO – Get Free Report) has been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $2.38.
Several research firms have issued reports on EGIO. Lake Street Capital lowered their price target on shares of Edgio from $2.00 to $1.50 and set a “buy” rating for the company in a report on Thursday, July 20th. DA Davidson reiterated a “neutral” rating and set a $0.75 price target on shares of Edgio in a report on Wednesday, August 16th.
Edgio Stock Down 6.0 %
Edgio (NASDAQ:EGIO – Get Free Report) last issued its earnings results on Tuesday, August 15th. The company reported ($0.12) EPS for the quarter. The business had revenue of $101.95 million for the quarter. Edgio had a negative return on equity of 25.52% and a negative net margin of 34.60%. Equities research analysts forecast that Edgio will post -0.46 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in EGIO. Price T Rowe Associates Inc. MD purchased a new stake in shares of Edgio in the 4th quarter valued at about $26,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Edgio in the fourth quarter worth $28,000. MetLife Investment Management LLC purchased a new stake in Edgio during the fourth quarter valued at $28,000. Savant Capital LLC purchased a new stake in Edgio during the fourth quarter valued at $31,000. Finally, Algert Global LLC bought a new stake in Edgio during the fourth quarter valued at about $33,000. Institutional investors own 23.16% of the company’s stock.
Edgio Company Profile
Edgio, Inc provides edge-enabled software solutions 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 platform, media, and application solutions.
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