Wall Street brokerages predict that Limelight Networks, Inc. (NASDAQ:LLNW) will report $47.51 million in sales 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 firm 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 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 Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Limelight Networks.
Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings results 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. The company had revenue of $48.19 million during the quarter, compared to analyst estimates of $47.74 million. Limelight Networks had a negative net margin of 4.14% and a negative return on equity of 1.50%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 EPS.
Several brokerages recently commented on LLNW. B. Riley reissued a “buy” rating and issued a $6.00 price target on shares of Limelight Networks in a report on Friday, January 5th. Zacks Investment Research lowered shares of Limelight Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 19th. Finally, BidaskClub lowered shares of Limelight Networks from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $5.63.
In other news, major shareholder Goldman Sachs Group Inc sold 15,272,493 shares of the company’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $3.80, for a total transaction of $58,035,473.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert A. Lento sold 40,000 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $4.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. Insiders have sold 15,317,793 shares of company stock valued at $58,219,411 in the last ninety days. Insiders own 37.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings 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 worth $193,000 after buying an additional 3,090 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Limelight Networks by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 289,101 shares of the information services provider’s stock worth $1,148,000 after buying an additional 10,368 shares in the last quarter. Investors Research Corp purchased a new stake in shares of Limelight Networks during the fourth quarter worth $121,000. Wells Fargo & Company MN grew its holdings in shares of Limelight Networks by 36.4% during the fourth quarter. Wells Fargo & Company MN now owns 105,431 shares of the information services provider’s stock worth $465,000 after buying an additional 28,159 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Limelight Networks during the fourth quarter worth $129,000. 68.96% of the stock is owned by institutional investors and hedge funds.
Shares of Limelight Networks (NASDAQ LLNW) opened at $4.31 on Friday. The company has a market cap of $485.42, a price-to-earnings ratio of -61.56 and a beta of 2.43. Limelight Networks has a 1-year low of $2.36 and a 1-year 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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