Limelight Networks, Inc. (LLNW) Given Average Recommendation of “Buy” by Analysts

Limelight Networks, Inc. (NASDAQ:LLNW) has earned a consensus recommendation of “Buy” from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $5.00.

A number of equities analysts have recently issued reports on the stock. B. Riley reiterated a “buy” rating and issued a $6.00 price target on shares of Limelight Networks in a report on Thursday. Zacks Investment Research downgraded shares of Limelight Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday. DA Davidson set a $5.50 price target on shares of Limelight Networks and gave the company a “buy” rating in a report on Monday, October 16th. Finally, Cowen reiterated 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, October 19th.

In other news, Director Mark J. Midle sold 15,000,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $4.35, for a total value of $65,250,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 37.60% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings 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 valued at $11,191,000 after buying an additional 50,901 shares during the period. Vanguard Group Inc. raised its holdings 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 valued at $8,533,000 after buying an additional 639,265 shares during the period. First Washington CORP raised its holdings 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 valued at $4,272,000 after buying an additional 243,055 shares during the period. State Street Corp raised its holdings in Limelight Networks by 10.4% in the second quarter. State Street Corp now owns 1,263,427 shares of the information services provider’s stock valued at $3,650,000 after buying an additional 118,836 shares during the period. Finally, Northern Trust Corp raised its holdings in Limelight Networks by 13.5% in the second quarter. Northern Trust Corp now owns 815,108 shares of the information services provider’s stock valued at $2,356,000 after buying an additional 96,776 shares during the period. 69.96% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Limelight Networks (LLNW) traded up $0.02 during trading on Thursday, reaching $4.72. 500,600 shares of the company’s stock were exchanged, compared to its average volume of 527,195. Limelight Networks has a 52 week low of $2.02 and a 52 week high of $6.05.

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

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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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