B. Riley Reiterates Buy Rating for Limelight Networks (LLNW)

Limelight Networks (NASDAQ:LLNW)‘s stock had its “buy” rating restated by equities researchers at B. Riley in a research report issued to clients and investors on Monday. They currently have a $6.00 price target on the information services provider’s stock. B. Riley’s target price suggests a potential upside of 20.97% from the company’s previous close.

LLNW has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Friday, October 20th. DA Davidson set a $5.50 price target on shares of Limelight Networks and gave the company a “buy” rating in a research report on Monday, October 16th. Cowen restated an “outperform” rating and set a $6.00 price target (up from $4.00) on shares of Limelight Networks in a research report on Thursday, October 19th. Finally, BidaskClub upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $5.00.

Limelight Networks (LLNW) traded up $0.10 on Monday, hitting $4.96. 8,068,600 shares of the stock were exchanged, compared to its average volume of 503,520. Limelight Networks has a 12-month low of $2.02 and a 12-month high of $6.05.

Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings results on Wednesday, October 18th. The information services provider reported $0.02 EPS for the quarter. The firm had revenue of $46.07 million during the quarter, compared to analyst estimates of $43.09 million. Limelight Networks had a negative net margin of 5.91% and a negative return on equity of 3.29%. Limelight Networks’s revenue for the quarter was up 16.7% compared to the same quarter last year. sell-side analysts anticipate that Limelight Networks will post -0.04 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. First Washington CORP grew its position in Limelight Networks by 19.7% in the second quarter. First Washington CORP now owns 1,478,176 shares of the information services provider’s stock worth $4,272,000 after acquiring an additional 243,055 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in Limelight Networks by 14.3% in the second quarter. TIAA CREF Investment Management LLC now owns 486,409 shares of the information services provider’s stock worth $1,406,000 after acquiring an additional 60,752 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Limelight Networks by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,872,233 shares of the information services provider’s stock worth $11,191,000 after acquiring an additional 50,901 shares in the last quarter. Geode Capital Management LLC grew its position in Limelight Networks by 6.7% in the first quarter. Geode Capital Management LLC now owns 477,917 shares of the information services provider’s stock worth $1,233,000 after acquiring an additional 29,892 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Limelight Networks by 24.0% in the first quarter. Vanguard Group Inc. now owns 3,307,238 shares of the information services provider’s stock worth $8,533,000 after acquiring an additional 639,265 shares in the last quarter. Institutional investors own 70.27% of the company’s stock.

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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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