Limelight Networks (NASDAQ:LLNW) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.11-0.15 for the period, compared to the Thomson Reuters consensus estimate of $0.12. The company issued revenue guidance of $196-200 million, compared to the consensus revenue estimate of $198.91 million.
Several equities analysts have recently weighed in on LLNW shares. B. Riley restated a buy rating and issued a $6.00 price objective on shares of Limelight Networks in a report on Thursday, December 21st. Cowen reiterated an outperform rating and set a $6.00 price target (up previously from $4.00) on shares of Limelight Networks in a report on Thursday, October 19th. BidaskClub downgraded shares of Limelight Networks from a buy rating to a hold rating in a research report on Wednesday, December 27th. Finally, Zacks Investment Research downgraded shares of Limelight Networks from a strong-buy rating to a hold rating in a research report on Tuesday, December 19th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $5.63.
Shares of Limelight Networks (LLNW) traded up $0.06 on Friday, reaching $3.92. 493,100 shares of the company’s stock traded hands, compared to its average volume of 694,167. Limelight Networks has a 1-year low of $2.10 and a 1-year high of $6.05. The firm has a market capitalization of $433.36, a P/E ratio of -56.43 and a beta of 2.45.
Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. Limelight Networks had a negative net margin of 4.14% and a negative return on equity of 1.50%. The business had revenue of $48.19 million during the quarter, compared to the consensus estimate of $47.74 million. During the same period in the previous year, the business earned $0.02 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis.
In other Limelight Networks news, Director Mark J. Midle sold 15,000,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $4.35, for a total transaction of $65,250,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 37.60% of the company’s stock.
A hedge fund recently raised its stake in Limelight Networks stock. The Manufacturers Life Insurance Company increased its holdings in Limelight Networks, Inc. (NASDAQ:LLNW) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,823 shares of the information services provider’s stock after purchasing an additional 3,090 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of Limelight Networks worth $193,000 at the end of the most recent reporting period. 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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