DA Davidson set a $5.50 price objective on Limelight Networks, Inc. (NASDAQ:LLNW) in a research note released on Monday, October 16th, Marketbeat.com reports. The firm currently has a buy rating on the information services provider’s stock.
A number of other research analysts have also weighed in on the company. B. Riley restated a buy rating and set a $5.30 price objective (up previously from $4.30) on shares of Limelight Networks in a research report on Thursday, October 12th. Zacks Investment Research lowered Limelight Networks from a buy rating to a hold rating in a research report on Friday, September 29th. BidaskClub upgraded Limelight Networks from a hold rating to a buy rating in a research report on Wednesday, August 9th. Finally, TheStreet upgraded Limelight Networks from a d+ rating to a c rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $5.00.
Shares of Limelight Networks (NASDAQ LLNW) opened at 4.90 on Monday. The company’s 50 day moving average price is $4.10 and its 200 day moving average price is $3.39. The company’s market capitalization is $535.32 million. Limelight Networks has a 12 month low of $1.70 and a 12 month high of $5.18.
Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings data on Wednesday, October 18th. The information services provider reported $0.02 earnings per share for the quarter. The firm had revenue of $46.07 million during the quarter, compared to analyst estimates of $43.09 million. Limelight Networks had a negative return on equity of 3.29% and a negative net margin of 5.91%. The business’s revenue was up 16.7% on a year-over-year basis. Analysts expect that Limelight Networks will post $0.07 EPS for the current fiscal year.
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Several large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its position in shares of Limelight Networks by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 66,823 shares of the information services provider’s stock valued at $193,000 after buying an additional 3,090 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Limelight Networks during the second quarter valued at approximately $220,000. State Street Corp raised its stake in shares of Limelight Networks by 10.4% during the second quarter. State Street Corp now owns 1,263,427 shares of the information services provider’s stock valued at $3,650,000 after acquiring an additional 118,836 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in shares of Limelight Networks by 19.7% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 147,760 shares of the information services provider’s stock valued at $426,000 after acquiring an additional 24,300 shares in the last quarter. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Limelight Networks during the second quarter valued at approximately $970,000. Institutional investors and hedge funds own 69.02% of the company’s stock.
Limelight Networks Company Profile
Limelight Networks, Inc operates a distributed network and provides a suite of integrated services marketed as the Limelight Orchestrate Platform. The Company is engaged in providing content delivery and related services and solutions for global businesses to help them deliver their digital content across Internet, mobile, and social channels.
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