Limelight Networks, Inc. (NASDAQ:LLNW) posted its quarterly earnings results on Wednesday. The information services provider reported $0.02 EPS for the quarter, Bloomberg Earnings reports. The company had revenue of $46.07 million for the quarter, compared to analysts’ expectations of $43.09 million. Limelight Networks had a negative net margin of 8.65% and a negative return on equity of 5.03%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. Limelight Networks updated its FY17 guidance to $0.06-0.08 EPS.
Limelight Networks (NASDAQ:LLNW) opened at 4.48 on Thursday. Limelight Networks has a 52-week low of $1.70 and a 52-week high of $4.52. The stock’s 50 day moving average is $3.93 and its 200-day moving average is $3.31. The stock’s market capitalization is $489.43 million.
A hedge fund recently raised its stake in Limelight Networks stock. The Manufacturers Life Insurance Company increased its position in shares of Limelight Networks, Inc. (NASDAQ:LLNW) by 4.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,823 shares of the information services provider’s stock after purchasing an additional 3,090 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Limelight Networks worth $193,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 68.99% of the company’s stock.
A number of equities research analysts recently commented on the stock. Cowen and Company reaffirmed an “outperform” rating and issued a $6.00 price target (up previously from $4.00) on shares of Limelight Networks in a report on Thursday. B. Riley reaffirmed a “buy” rating and issued a $6.00 price target on shares of Limelight Networks in a report on Thursday. DA Davidson set a $5.50 price target on shares of Limelight Networks and gave the stock a “buy” rating in a report on Monday. Zacks Investment Research cut shares of Limelight Networks from a “buy” rating to a “hold” rating in a report on Friday, September 29th. Finally, BidaskClub raised shares of Limelight Networks from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Limelight Networks has an average rating of “Buy” and an average price target of $4.85.
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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