Equities research analysts expect Limelight Networks, Inc. (NASDAQ:LLNW) to report earnings of $0.01 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Limelight Networks’ earnings, with estimates ranging from $0.00 to $0.01. Limelight Networks reported earnings per share of $0.03 during the same quarter last year, which would suggest a negative year-over-year growth rate of 66.7%. The company is scheduled to report its next earnings results on Thursday, October 17th.
According to Zacks, analysts expect that Limelight Networks will report full year earnings of ($0.01) per share for the current year, with EPS estimates ranging from ($0.03) to $0.01. For the next year, analysts anticipate that the business will post earnings of $0.07 per share, with EPS estimates ranging from $0.03 to $0.08. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Limelight Networks.
Limelight Networks (NASDAQ:LLNW) last announced its earnings results on Wednesday, July 17th. The information services provider reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.02). Limelight Networks had a negative net margin of 11.63% and a negative return on equity of 13.07%. The company had revenue of $45.90 million during the quarter, compared to the consensus estimate of $46.40 million. During the same quarter in the previous year, the company earned $0.04 earnings per share. The business’s revenue was down 8.6% on a year-over-year basis.
A number of brokerages have recently weighed in on LLNW. BidaskClub lowered Limelight Networks from a “hold” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research lowered Limelight Networks from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. B. Riley reaffirmed a “buy” rating and set a $5.00 target price on shares of Limelight Networks in a research report on Monday, July 15th. ValuEngine raised Limelight Networks from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, DA Davidson reissued a “neutral” rating and issued a $2.70 price target on shares of Limelight Networks in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $4.57.
Shares of NASDAQ:LLNW traded up $0.04 during trading on Friday, reaching $2.27. 959,616 shares of the stock were exchanged, compared to its average volume of 873,582. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. Limelight Networks has a 1-year low of $2.20 and a 1-year high of $5.32. The stock has a fifty day moving average of $2.52 and a two-hundred day moving average of $2.88. The firm has a market cap of $259.13 million, a price-to-earnings ratio of -113.50 and a beta of 2.03.
In related news, CFO Sajid Malhotra purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was acquired at an average cost of $2.28 per share, with a total value of $45,600.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Thomas Marth purchased 21,550 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was bought at an average cost of $2.32 per share, with a total value of $49,996.00. The disclosure for this purchase can be found here. Corporate insiders own 10.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LLNW. Amalgamated Bank bought a new position in Limelight Networks in the 4th quarter valued at $38,000. Jane Street Group LLC bought a new position in Limelight Networks in the 4th quarter valued at $41,000. Meitav Dash Investments Ltd. bought a new position in Limelight Networks in the 1st quarter valued at $44,000. Legal & General Group Plc grew its stake in Limelight Networks by 25.1% in the 4th quarter. Legal & General Group Plc now owns 20,034 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 4,014 shares during the period. Finally, Cibc Bank USA bought a new position in Limelight Networks in the 2nd quarter valued at $54,000. 72.23% of the stock is owned by institutional investors and hedge funds.
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, social, and other digital initiatives.
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