Brokerages Set Limelight Networks, Inc. (LLNW) Target Price at $6.30

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Limelight Networks, Inc. (NASDAQ:LLNW) has been given an average recommendation of “Buy” by the nine brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $6.30.

A number of research analysts recently issued reports on LLNW shares. BidaskClub cut shares of Limelight Networks from a “sell” rating to a “strong sell” rating in a report on Saturday, June 30th. DA Davidson set a $7.00 price objective on shares of Limelight Networks and gave the company a “buy” rating in a report on Monday, October 8th. Cowen restated a “buy” rating and set a $6.50 price objective on shares of Limelight Networks in a report on Friday, July 20th. Zacks Investment Research cut shares of Limelight Networks from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. Finally, Craig Hallum started coverage on shares of Limelight Networks in a report on Monday, August 27th. They set a “buy” rating and a $6.00 price objective for the company.

In other Limelight Networks news, insider Kurt Silverman sold 7,500 shares of Limelight Networks stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $5.00, for a total value of $37,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert A. Lento sold 40,000 shares of Limelight Networks stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $4.42, for a total transaction of $176,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,900 shares of company stock worth $741,016. Insiders own 10.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Campbell & CO Investment Adviser LLC bought a new position in Limelight Networks in the second quarter valued at approximately $125,000. Macquarie Group Ltd. bought a new position in Limelight Networks in the second quarter valued at approximately $139,000. Cim Investment Mangement Inc. bought a new position in Limelight Networks in the second quarter valued at approximately $182,000. WINTON GROUP Ltd bought a new position in Limelight Networks in the first quarter valued at approximately $172,000. Finally, MetLife Investment Advisors LLC lifted its stake in Limelight Networks by 172.6% in the first quarter. MetLife Investment Advisors LLC now owns 43,835 shares of the information services provider’s stock valued at $180,000 after buying an additional 27,754 shares in the last quarter. 72.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ LLNW opened at $4.25 on Wednesday. The company has a market cap of $572.22 million, a P/E ratio of 169.33, a PEG ratio of 13.55 and a beta of 2.33. Limelight Networks has a 52-week low of $3.69 and a 52-week high of $6.05.

Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings data on Thursday, October 18th. The information services provider reported $0.03 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.03. The firm had revenue of $49.32 million during the quarter, compared to analysts’ expectations of $49.01 million. Limelight Networks had a net margin of 7.07% and a return on equity of 2.38%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.02 earnings per share. Equities analysts forecast that Limelight Networks will post 0.03 EPS for the current year.

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.

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Analyst Recommendations for Limelight Networks (NASDAQ:LLNW)

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