Limelight Networks, Inc. (LLNW) Receives $3.43 Average Target Price from Analysts

Limelight Networks, Inc. (NASDAQ:LLNW) has received a consensus recommendation of “Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $3.77.

LLNW has been the topic of several analyst reports. BidaskClub raised Limelight Networks from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. TheStreet raised Limelight Networks from a “d+” rating to a “c” rating in a report on Thursday, July 27th. B. Riley reissued a “buy” rating and set a $5.30 target price (up from $4.30) on shares of Limelight Networks in a report on Thursday. Finally, Zacks Investment Research lowered Limelight Networks from a “buy” rating to a “hold” rating in a report on Friday, September 29th.

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A number of large investors have recently added to or reduced their stakes in the stock. Ironwood Investment Management LLC boosted its stake in Limelight Networks by 1.4% in the first quarter. Ironwood Investment Management LLC now owns 88,329 shares of the information services provider’s stock valued at $228,000 after buying an additional 1,209 shares in the last quarter. American International Group Inc. boosted its stake in Limelight Networks by 7.1% in the first quarter. American International Group Inc. now owns 43,718 shares of the information services provider’s stock valued at $113,000 after buying an additional 2,913 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Limelight Networks by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 66,823 shares of the information services provider’s stock valued at $193,000 after buying an additional 3,090 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Limelight Networks by 3.0% in the second quarter. Acadian Asset Management LLC now owns 179,959 shares of the information services provider’s stock valued at $520,000 after buying an additional 5,269 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its stake in Limelight Networks by 26.8% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 48,570 shares of the information services provider’s stock valued at $140,000 after buying an additional 10,270 shares in the last quarter. 68.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of Limelight Networks (LLNW) traded up 2.14% during midday trading on Friday, hitting $4.30. 696,083 shares of the stock traded hands. The company’s market capitalization is $469.77 million. Limelight Networks has a 1-year low of $1.70 and a 1-year high of $4.40. The stock has a 50 day moving average of $3.84 and a 200 day moving average of $3.25.

Limelight Networks (NASDAQ:LLNW) last released its earnings results on Wednesday, July 26th. The information services provider reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. The company had revenue of $45.37 million for the quarter, compared to analyst estimates of $45.25 million. Limelight Networks had a negative return on equity of 5.03% and a negative net margin of 8.65%. Limelight Networks’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 EPS. Equities research analysts predict that Limelight Networks will post $0.06 earnings per share for the current fiscal year.

About Limelight Networks

Limelight Networks, Inc operates a distributed network and provides a suite of integrated services marketed as the Limelight Orchestrate Platform. The Company is engaged in providing content delivery and related services and solutions for global businesses to help them deliver their digital content across Internet, mobile, and social channels.

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