According to Zacks, “LIMELIGHT NETWORKS, INC. is a content delivery partner enabling the next wave of Internet business and entertainment. More than 1300 Internet, entertainment, software, and technology brands trust their robust, scalable platform to monetize their digital assets by delivering a brilliant online experience to their global audience. LimeLight’s architecture bypasses the busy public Internet using a dedicated optical network that interconnects thousands of servers and delivers massive files at the speed of light — directly to the access networks that consumers use every day. LimeLight’s proven network and passion for service assures their customers that every object in their library will be instantly delivered to every user, every time. “
A number of other analysts have also issued reports on LLNW. B. Riley reissued a buy rating and issued a $3.70 price target on shares of Limelight Networks in a research note on Tuesday, July 5th. FBR & Co raised their price target on Limelight Networks from $1.50 to $2.50 and gave the stock a market perform rating in a research note on Thursday, September 1st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $2.99.
Limelight Networks (NASDAQ:LLNW) opened at 1.87 on Wednesday. Limelight Networks has a 52-week low of $0.90 and a 52-week high of $2.22. The firm’s market cap is $195.74 million. The firm has a 50-day moving average of $1.74 and a 200-day moving average of $1.61.
Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. Limelight Networks had a negative return on equity of 9.88% and a negative net margin of 42.85%. The firm had revenue of $43.56 million for the quarter, compared to analyst estimates of $43.84 million. During the same period last year, the company earned ($0.04) EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts anticipate that Limelight Networks will post $0.01 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Cowen Group Inc. raised its position in Limelight Networks by 5.1% in the second quarter. Cowen Group Inc. now owns 102,500 shares of the company’s stock valued at $153,000 after buying an additional 5,000 shares in the last quarter. Alliancebernstein L.P. raised its position in Limelight Networks by 1.2% in the second quarter. Alliancebernstein L.P. now owns 119,600 shares of the company’s stock valued at $178,000 after buying an additional 1,400 shares during the period. Teachers Advisors Inc. raised its position in Limelight Networks by 19.1% in the second quarter. Teachers Advisors Inc. now owns 119,852 shares of the company’s stock valued at $179,000 after buying an additional 19,213 shares during the period. Emerald Acquisition Ltd. bought a new position in Limelight Networks during the second quarter valued at approximately $184,000. Finally, California State Teachers Retirement System raised its position in Limelight Networks by 14.8% in the second quarter. California State Teachers Retirement System now owns 148,793 shares of the company’s stock valued at $222,000 after buying an additional 19,234 shares during the period. 66.34% of the stock is currently owned by institutional investors and hedge funds.
About Limelight Networks
Limelight Networks, Inc provides content delivery network services to deliver content over Internet. The Company operates a globally distributed, computing platform and provides services under the Orchestrate Platform, which include content delivery, video content management, Website and Web application acceleration, Website and content security and cloud storage services.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Limelight Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Limelight Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.