Limelight Networks (NASDAQ:LLNW) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
Other research analysts have also recently issued research reports about the stock. Oppenheimer began coverage on shares of Limelight Networks in a report on Monday. They issued an “outperform” rating and a $6.00 price target on the stock. B. Riley reaffirmed a “buy” rating and issued a $6.00 price target on shares of Limelight Networks in a report on Thursday, December 21st. BidaskClub cut shares of Limelight Networks from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Finally, Zacks Investment Research cut shares of Limelight Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 19th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Limelight Networks currently has a consensus rating of “Buy” and a consensus price target of $5.60.
Limelight Networks stock opened at $4.24 on Tuesday. The firm has a market capitalization of $412.27, a PE ratio of -212.00, a PEG ratio of 279.00 and a beta of 2.42. Limelight Networks has a fifty-two week low of $2.47 and a fifty-two week high of $6.05.
Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings results on Wednesday, February 7th. The information services provider reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. The firm had revenue of $48.19 million for 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 business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 earnings per share.
In related 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 value of $58,035,473.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sold 15,357,793 shares of company stock valued at $58,387,811 over the last quarter. 37.60% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Investors Research Corp purchased a new position in Limelight Networks in the fourth quarter worth $121,000. Teacher Retirement System of Texas purchased a new position in Limelight Networks in the fourth quarter worth $129,000. J. Goldman & Co LP purchased a new position in Limelight Networks in the fourth quarter worth $161,000. BlueCrest Capital Management Ltd purchased a new position in Limelight Networks in the fourth quarter worth $163,000. Finally, Cypress Capital Management LLC WY purchased a new position in Limelight Networks in the fourth quarter worth $272,000. Institutional investors own 68.96% of the company’s stock.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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