Brokerages expect Limelight Networks (NASDAQ:LLNW) to post sales of $47.51 million for the current quarter, according to Zacks. Three analysts have issued estimates for Limelight Networks’ earnings, with the highest sales estimate coming in at $48.31 million and the lowest estimate coming in at $47.00 million. Limelight Networks reported sales of $44.74 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.2%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Thursday, April 19th.
On average, analysts expect that Limelight Networks will report full-year sales of $47.51 million for the current year, with estimates ranging from $194.50 million to $199.43 million. For the next year, analysts expect that the firm will report sales of $213.18 million per share, with estimates ranging from $209.04 million to $219.51 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Limelight Networks.
Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.04 EPS for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $47.74 million. During the same period in the prior year, the business earned $0.02 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis.
Several research analysts have commented on LLNW shares. BidaskClub lowered shares of Limelight Networks from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. B. Riley reiterated a “buy” rating and issued a $6.00 price target on shares of Limelight Networks in a research note on Thursday, December 21st. Zacks Investment Research lowered shares of Limelight Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Finally, ValuEngine upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $5.50.
In related news, CEO Robert A. Lento sold 40,000 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $4.00, for a total value of $160,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Goldman Sachs Group Inc sold 15,272,493 shares of the stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $3.80, for a total transaction of $58,035,473.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,357,793 shares of company stock valued at $58,387,811. 37.60% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in shares of Limelight Networks by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,823 shares of the information services provider’s stock worth $193,000 after acquiring an additional 3,090 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Limelight Networks by 3.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 289,101 shares of the information services provider’s stock worth $1,148,000 after acquiring an additional 10,368 shares in the last quarter. Investors Research Corp bought a new position in shares of Limelight Networks in the 4th quarter worth about $121,000. Wells Fargo & Company MN grew its position in Limelight Networks by 36.4% during the 4th quarter. Wells Fargo & Company MN now owns 105,431 shares of the information services provider’s stock valued at $465,000 after purchasing an additional 28,159 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Limelight Networks during the 4th quarter valued at about $129,000. Institutional investors own 68.96% of the company’s stock.
Shares of NASDAQ LLNW opened at $3.95 on Monday. Limelight Networks has a 12 month low of $2.41 and a 12 month high of $6.05. The firm has a market capitalization of $437.76, a price-to-earnings ratio of -197.50, a P/E/G ratio of 296.25 and a beta of 2.42.
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Limelight Networks Company Profile
Limelight Networks, Inc provides content delivery and related services and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers services and solutions for businesses to deliver their digital content across Internet, mobile, and social channels. It provides Orchestrate Platform, a suite of integrated services comprising content delivery, video content management, Website and Web application acceleration, Website and content security, and cloud storage services.
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