Limelight Networks (LLNW) Announces Quarterly Earnings Results

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Limelight Networks (NASDAQ:LLNW) released its earnings results on Thursday. The information services provider reported $0.03 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.03, Briefing.com reports. The firm had revenue of $49.32 million for 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%. Limelight Networks’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.02 EPS. Limelight Networks updated its FY 2018 guidance to $0.14-0.17 EPS and its FY18 guidance to $0.14-0.17 EPS.

Shares of LLNW traded down $0.83 during mid-day trading on Friday, hitting $4.25. The company’s stock had a trading volume of 4,847,937 shares, compared to its average volume of 806,221. The stock has a market capitalization of $572.22 million, a P/E ratio of -212.50, a P/E/G ratio of 13.55 and a beta of 2.33. Limelight Networks has a fifty-two week low of $3.69 and a fifty-two week high of $6.05.

LLNW has been the topic of several research analyst reports. DA Davidson set a $7.00 target price on shares of Limelight Networks and gave the company a “buy” rating in a research note on Monday, October 8th. Craig Hallum initiated coverage on shares of Limelight Networks in a research note on Monday, August 27th. They set a “buy” rating and a $6.00 target price on the stock. BidaskClub raised shares of Limelight Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, September 5th. Zacks Investment Research cut shares of Limelight Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Finally, Cowen reissued a “buy” rating and set a $6.50 target price on shares of Limelight Networks in a research note on Friday, July 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $6.21.

In other 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 legal filing with the SEC, which is available at this link. Also, CEO Robert A. Lento sold 40,000 shares of Limelight Networks stock in a transaction that occurred on Wednesday, August 1st. The stock was 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. Insiders sold a total of 154,900 shares of company stock worth $741,016 in the last ninety days. Corporate insiders own 10.60% of the company’s stock.

An institutional investor recently raised its position in Limelight Networks stock. Bank of New York Mellon Corp grew its position in Limelight Networks, Inc. (NASDAQ:LLNW) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 651,824 shares of the information services provider’s stock after buying an additional 29,619 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.58% of Limelight Networks worth $2,914,000 at the end of the most recent quarter. Institutional investors and hedge funds own 72.85% 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.

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Earnings History for Limelight Networks (NASDAQ:LLNW)

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