Wall Street brokerages predict that Limelight Networks, Inc. (NASDAQ:LLNW) will announce sales of $47.51 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Limelight Networks’ earnings, with estimates ranging from $47.00 million to $48.31 million. Limelight Networks reported sales of $44.74 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.2%. The business is expected to report its next quarterly earnings results on Monday, April 23rd.
According to Zacks, analysts expect that Limelight Networks will report full year sales of $47.51 million for the current fiscal year, with estimates ranging from $194.50 million to $199.43 million. For the next fiscal year, analysts expect that the company will post sales of $213.18 million per share, with estimates ranging from $209.04 million to $219.51 million. Zacks’ sales averages are an average based on a survey of research firms that cover Limelight Networks.
Limelight Networks (NASDAQ:LLNW) last released its earnings results on Wednesday, February 7th. The information services provider reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $48.19 million for the quarter, compared to analysts’ expectations of $47.74 million. During the same quarter in the previous year, the firm posted $0.02 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis.
Several equities research analysts have recently commented on LLNW shares. BidaskClub lowered Limelight Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. B. Riley reissued a “buy” rating and set a $6.00 price target on shares of Limelight Networks in a research note on Monday, December 4th. Finally, Zacks Investment Research lowered Limelight Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Limelight Networks has an average rating of “Buy” and an average price target of $5.63.
In other news, Director Mark J. Midle sold 15,000,000 shares of the business’s 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 document filed with the SEC, which is available at the SEC website. 37.60% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of LLNW. Investors Research Corp purchased a new stake in Limelight Networks in the 4th quarter valued at approximately $121,000. Teacher Retirement System of Texas purchased a new stake in Limelight Networks in the 4th quarter valued at approximately $129,000. Wolverine Trading LLC lifted its stake in Limelight Networks by 761.3% in the 3rd quarter. Wolverine Trading LLC now owns 37,766 shares of the information services provider’s stock valued at $150,000 after buying an additional 43,477 shares in the last quarter. J. Goldman & Co LP purchased a new stake in Limelight Networks in the 4th quarter valued at approximately $161,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in Limelight Networks in the 4th quarter valued at approximately $163,000. 73.71% of the stock is currently owned by hedge funds and other institutional investors.
Limelight Networks (NASDAQ LLNW) traded up $0.04 during midday trading on Friday, reaching $3.85. The company’s stock had a trading volume of 495,700 shares, compared to its average volume of 687,637. The firm has a market cap of $429.45, a PE ratio of -55.43 and a beta of 2.45. Limelight Networks has a 52 week low of $2.10 and a 52 week high of $6.05.
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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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