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

Limelight Networks, Inc. (NASDAQ:LLNW) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $5.00.

LLNW has been the subject of a number of analyst reports. B. Riley restated a “buy” rating and issued a $5.30 price objective (up from $4.30) on shares of Limelight Networks in a research note on Thursday, October 12th. DA Davidson set a $5.50 price objective on shares of Limelight Networks and gave the stock a “buy” rating in a research note on Monday, October 16th. Cowen restated an “outperform” rating and issued a $6.00 price objective (up from $4.00) on shares of Limelight Networks in a research note on Thursday, October 19th. Zacks Investment Research upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Friday, October 20th. Finally, BidaskClub cut shares of Limelight Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th.

In other news, Director Mark J. Midle sold 15,000,000 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 37.60% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Teacher Retirement System of Texas bought a new stake in Limelight Networks during the 4th quarter worth about $129,000. Wolverine Trading LLC grew its holdings in Limelight Networks by 761.3% during the 3rd quarter. Wolverine Trading LLC now owns 37,766 shares of the information services provider’s stock worth $150,000 after acquiring an additional 43,477 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Limelight Networks by 4.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,823 shares of the information services provider’s stock worth $193,000 after acquiring an additional 3,090 shares during the last quarter. OxFORD Asset Management LLP grew its holdings in Limelight Networks by 115.3% during the 2nd quarter. OxFORD Asset Management LLP now owns 72,171 shares of the information services provider’s stock worth $209,000 after acquiring an additional 38,647 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Limelight Networks during the 2nd quarter valued at about $220,000. 70.27% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Limelight Networks (NASDAQ LLNW) traded down $0.17 on Friday, reaching $4.01. 1,340,418 shares of the company were exchanged, compared to its average volume of 662,254. Limelight Networks has a 52-week low of $2.10 and a 52-week high of $6.05. The stock has a market capitalization of $475.93, a P/E ratio of -57.56, a PEG ratio of 648.00 and a beta of 2.45.

Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.03. The firm had revenue of $48.19 million for the quarter, compared to the consensus estimate of $47.74 million. Limelight Networks had a negative net margin of 4.14% and a negative return on equity of 1.51%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 earnings per share.

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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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