Limelight Networks (LLNW) Receives New Coverage from Analysts at Oppenheimer

Oppenheimer started coverage on shares of Limelight Networks (NASDAQ:LLNW) in a report published on Monday morning. The firm issued an outperform rating and a $6.00 target price on the information services provider’s stock.

Other research analysts have also recently issued research reports about the stock. B. Riley reiterated a buy rating and issued a $6.00 target price on shares of Limelight Networks in a research note on Thursday, December 21st. ValuEngine upgraded shares of Limelight Networks from a hold rating to a buy rating in a research note on Monday, April 2nd. BidaskClub cut shares of Limelight Networks from a buy rating to a hold rating in a research note on Wednesday, December 27th. Finally, Zacks Investment Research cut shares of 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, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Limelight Networks presently has an average rating of Buy and an average price target of $5.60.

How to Become a New Pot Stock Millionaire

Shares of LLNW opened at $3.72 on Monday. The stock has a market cap of $430.01, a price-to-earnings ratio of -186.00, a price-to-earnings-growth ratio of 291.00 and a beta of 2.41. Limelight Networks has a 12 month low of $2.44 and a 12 month high of $6.05.

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

In other news, CEO Robert A. Lento sold 40,000 shares of Limelight Networks stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $4.21, for a total value of $168,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 15,272,493 shares of Limelight Networks stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold 15,357,793 shares of company stock valued at $58,387,811 in the last quarter. 37.60% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of Limelight Networks by 1.3% in the fourth quarter. BlackRock Inc. now owns 6,934,194 shares of the information services provider’s stock valued at $30,580,000 after purchasing an additional 88,510 shares in the last quarter. Hood River Capital Management LLC increased its holdings in shares of Limelight Networks by 102.6% in the fourth quarter. Hood River Capital Management LLC now owns 3,461,955 shares of the information services provider’s stock valued at $15,267,000 after purchasing an additional 1,753,125 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Limelight Networks by 18.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,970,655 shares of the information services provider’s stock valued at $13,101,000 after purchasing an additional 462,800 shares in the last quarter. B. Riley Financial Inc. acquired a new stake in shares of Limelight Networks in the fourth quarter valued at approximately $8,314,000. Finally, Millennium Management LLC increased its holdings in shares of Limelight Networks by 103.6% in the fourth quarter. Millennium Management LLC now owns 1,704,417 shares of the information services provider’s stock valued at $7,516,000 after purchasing an additional 867,072 shares in the last quarter. 68.96% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This piece of content was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/04/17/limelight-networks-llnw-receives-new-coverage-from-analysts-at-oppenheimer.html.

About Limelight Networks

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.

Receive News & Ratings for Limelight Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Limelight Networks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply