ValuEngine Lowers Limelight Networks (LLNW) to Buy

ValuEngine downgraded shares of Limelight Networks (NASDAQ:LLNW) from a strong-buy rating to a buy rating in a research report released on Tuesday morning.

Several other research firms have also recently issued reports on LLNW. Zacks Investment Research raised shares of Limelight Networks from a hold rating to a strong-buy rating and set a $5.75 price target for the company in a report on Wednesday, June 20th. BidaskClub cut shares of Limelight Networks from a hold rating to a sell rating in a report on Tuesday, June 12th. Finally, Oppenheimer began coverage on shares of Limelight Networks in a report on Monday, April 16th. They set an outperform rating and a $6.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $5.85.

NASDAQ LLNW opened at $4.46 on Tuesday. The stock has a market cap of $497.95 million, a price-to-earnings ratio of -223.00, a P/E/G ratio of 56.25 and a beta of 2.33. Limelight Networks has a fifty-two week low of $2.82 and a fifty-two week high of $6.05.

Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings results on Thursday, April 19th. The information services provider reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm 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%. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 earnings per share. equities research analysts expect that Limelight Networks will post 0.04 earnings per share for the current fiscal year.

In other Limelight Networks news, Director David Peterschmidt sold 21,771 shares of the stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $5.05, for a total value of $109,943.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert A. Lento sold 40,000 shares of the stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $4.21, for a total transaction of $168,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 468,076 shares of company stock valued at $2,369,181. 10.60% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of LLNW. Investors Research Corp purchased a new position in Limelight Networks in the fourth quarter valued at about $121,000. Teacher Retirement System of Texas purchased a new position in Limelight Networks in the fourth quarter valued at about $129,000. J. Goldman & Co LP purchased a new position in Limelight Networks in the fourth quarter valued at about $161,000. BlueCrest Capital Management Ltd purchased a new position in Limelight Networks in the fourth quarter valued at about $163,000. Finally, WINTON GROUP Ltd purchased a new position in Limelight Networks in the first quarter valued at about $172,000. 70.57% of the stock is owned by institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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