Analysts Set Limelight Networks, Inc. (LLNW) Target Price at $5.00

Limelight Networks, Inc. (NASDAQ:LLNW) has received an average recommendation of “Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $5.83.

Several research analysts have recently commented on the company. B. Riley reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Limelight Networks in a research note on Monday, December 4th. Zacks Investment Research raised Limelight Networks from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research note on Friday, October 20th. BidaskClub downgraded Limelight Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, Cowen reissued an “outperform” rating and set a $6.00 target price (up previously from $4.00) on shares of Limelight Networks in a research note on Thursday, October 19th.

Limelight Networks (LLNW) traded down $0.17 during midday trading on Friday, hitting $3.79. The stock had a trading volume of 954,600 shares, compared to its average volume of 720,323. Limelight Networks has a 1 year low of $2.10 and a 1 year high of $6.05. The company has a market capitalization of $438.87, a P/E ratio of -56.28, a P/E/G ratio of 594.01 and a beta of 2.45.

Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. Limelight Networks had a negative return on equity of 1.50% and a negative net margin of 4.14%. The firm had revenue of $48.19 million for the quarter, compared to the consensus estimate of $47.74 million. During the same quarter last year, the company earned $0.02 earnings per share. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year.

In related news, Director Mark J. Midle sold 15,000,000 shares of Limelight Networks stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $4.35, for a total transaction of $65,250,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 37.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LLNW. Teachers Advisors LLC grew its holdings in Limelight Networks by 27.7% during the 2nd quarter. Teachers Advisors LLC now owns 231,693 shares of the information services provider’s stock valued at $670,000 after buying an additional 50,265 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in Limelight Networks by 14.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 486,409 shares of the information services provider’s stock valued at $1,406,000 after buying an additional 60,752 shares in the last quarter. Northern Trust Corp grew its holdings in Limelight Networks by 13.5% during the 2nd quarter. Northern Trust Corp now owns 815,108 shares of the information services provider’s stock valued at $2,356,000 after buying an additional 96,776 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Limelight Networks by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,872,233 shares of the information services provider’s stock valued at $11,191,000 after buying an additional 50,901 shares in the last quarter. Finally, OxFORD Asset Management LLP grew its holdings in Limelight Networks by 115.3% during the 2nd quarter. OxFORD Asset Management LLP now owns 72,171 shares of the information services provider’s stock valued at $209,000 after buying an additional 38,647 shares in the last quarter. Institutional investors and hedge funds own 70.42% of the company’s stock.

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About Limelight Networks

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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