Limelight Networks, Inc. (NASDAQ:LLNW) Expected to Announce Quarterly Sales of $54.50 Million


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Wall Street brokerages forecast that Limelight Networks, Inc. (NASDAQ:LLNW) will announce $54.50 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Limelight Networks’ earnings, with the lowest sales estimate coming in at $52.45 million and the highest estimate coming in at $55.90 million. Limelight Networks posted sales of $57.01 million during the same quarter last year, which suggests a negative year-over-year growth rate of 4.4%. The business is scheduled to announce its next earnings report after the market closes on Thursday, April 29th.

According to Zacks, analysts expect that Limelight Networks will report full year sales of $226.12 million for the current fiscal year, with estimates ranging from $217.33 million to $236.40 million. For the next financial year, analysts anticipate that the company will post sales of $242.68 million, with estimates ranging from $229.59 million to $251.70 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Limelight Networks.

Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings data on Thursday, February 11th. The information services provider reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.05). The firm had revenue of $55.39 million for the quarter, compared to analysts’ expectations of $61.58 million. Limelight Networks had a negative net margin of 3.62% and a negative return on equity of 4.51%.

A number of equities research analysts have issued reports on the company. Raymond James downgraded Limelight Networks from an “outperform” rating to a “market perform” rating in a research note on Friday, February 12th. Truist cut Limelight Networks from a “buy” rating to a “hold” rating in a research report on Friday, February 12th. TheStreet lowered shares of Limelight Networks from a “c-” rating to a “d+” rating in a report on Friday, February 26th. B. Riley reaffirmed a “neutral” rating and set a $5.00 price objective on shares of Limelight Networks in a report on Friday, January 29th. Finally, Lake Street Capital cut their price objective on shares of Limelight Networks from $9.00 to $6.00 and set a “buy” rating for the company in a report on Friday, February 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Limelight Networks currently has an average rating of “Hold” and a consensus target price of $6.32.

In related news, Director Scott Genereux sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 27th. The stock was sold at an average price of $5.00, for a total value of $75,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Robert A. Lento sold 24,097 shares of the company’s stock in a transaction that occurred on Friday, January 15th. The shares were sold at an average price of $4.08, for a total value of $98,315.76. The disclosure for this sale can be found here. 10.40% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of LLNW. California Public Employees Retirement System raised its holdings in shares of Limelight Networks by 2.1% during the third quarter. California Public Employees Retirement System now owns 268,549 shares of the information services provider’s stock worth $1,547,000 after purchasing an additional 5,634 shares during the last quarter. LPL Financial LLC grew its position in Limelight Networks by 170.3% during the third quarter. LPL Financial LLC now owns 28,567 shares of the information services provider’s stock valued at $165,000 after buying an additional 18,000 shares during the period. JPMorgan Chase & Co. grew its position in shares of Limelight Networks by 496.1% in the third quarter. JPMorgan Chase & Co. now owns 781,490 shares of the information services provider’s stock valued at $4,627,000 after purchasing an additional 650,381 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Limelight Networks by 1,668.0% in the third quarter. Great West Life Assurance Co. Can now owns 174,892 shares of the information services provider’s stock valued at $2,518,000 after purchasing an additional 165,000 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Limelight Networks by 170.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 787,265 shares of the information services provider’s stock valued at $4,535,000 after purchasing an additional 496,236 shares during the period. 78.19% of the stock is owned by hedge funds and other institutional investors.

Shares of Limelight Networks stock traded down $0.02 during trading hours on Monday, reaching $3.61. 9,535 shares of the stock traded hands, compared to its average volume of 5,157,541. The company has a 50 day moving average price of $3.48 and a 200 day moving average price of $4.31. The firm has a market capitalization of $448.13 million, a price-to-earnings ratio of -60.50 and a beta of 0.72. Limelight Networks has a one year low of $2.76 and a one year high of $8.19. The company has a quick ratio of 5.34, a current ratio of 5.34 and a debt-to-equity ratio of 0.56.

Limelight Networks Company Profile

Limelight Networks, Inc provides content delivery and related services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates private networks that deliver Websites, mobile applications, videos, music, software, games, and APIs; offers live and on-demand video delivery services; and provides online video platforms that help organizations manage, publish, syndicate, analyze, and monetize video contents.

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