Limelight Networks (NASDAQ:LLNW) was upgraded by investment analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.
Several other analysts have also recently weighed in on LLNW. B. Riley reiterated a “buy” rating and issued a $6.00 price objective on shares of Limelight Networks in a research note on Friday, January 5th. Zacks Investment Research upgraded shares of Limelight Networks from a “hold” rating to a “strong-buy” rating and set a $4.50 price objective for the company in a research note on Friday, April 6th. Finally, Oppenheimer started coverage on shares of Limelight Networks in a research note on Monday, April 16th. They issued an “outperform” rating and a $6.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $5.60.
Shares of NASDAQ LLNW remained flat at $$5.28 during mid-day trading on Wednesday. 972,641 shares of the stock were exchanged, compared to its average volume of 1,108,803. The firm has a market cap of $562.13, a PE ratio of -262.00, a PEG ratio of 63.50 and a beta of 2.40. Limelight Networks has a one year low of $2.71 and a one year high of $6.05.
Limelight Networks (NASDAQ:LLNW) last posted its earnings results on Thursday, April 19th. The information services provider reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $52.11 million during the quarter, compared to analysts’ expectations of $48.17 million. Limelight Networks had a negative net margin of 2.16% and a positive return on equity of 1.50%. Limelight Networks’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 EPS. equities research analysts forecast that Limelight Networks will post 0.04 EPS for the current fiscal year.
In other Limelight Networks news, insider Kurt Silverman sold 7,500 shares of Limelight Networks stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $5.15, for a total value of $38,625.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert A. Lento sold 40,000 shares of Limelight Networks stock in a transaction dated 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 a total of 15,729,098 shares of company stock valued at $60,294,748 in the last quarter. Corporate insiders own 37.60% of the company’s stock.
Several large investors have recently modified their holdings of LLNW. B. Riley Financial Inc. acquired a new position in shares of Limelight Networks in the 4th quarter valued at approximately $8,314,000. Hood River Capital Management LLC raised its position in shares of Limelight Networks by 102.6% in the 4th 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 buying an additional 1,753,125 shares in the last quarter. Millennium Management LLC raised its position in shares of Limelight Networks by 103.6% in the 4th quarter. Millennium Management LLC now owns 1,704,417 shares of the information services provider’s stock valued at $7,516,000 after buying an additional 867,072 shares in the last quarter. Northpointe Capital LLC acquired a new position in shares of Limelight Networks in the 4th quarter valued at approximately $2,788,000. Finally, Two Sigma Investments LP raised its position in shares of Limelight Networks by 267.4% in the 4th quarter. Two Sigma Investments LP now owns 757,380 shares of the information services provider’s stock valued at $3,340,000 after buying an additional 551,232 shares in the last quarter. Institutional investors own 69.26% of the company’s stock.
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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