$50.61 Million in Sales Expected for Limelight Networks, Inc. (LLNW) This Quarter

Analysts forecast that Limelight Networks, Inc. (NASDAQ:LLNW) will report sales of $50.61 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Limelight Networks’ earnings. The lowest sales estimate is $49.82 million and the highest is $51.56 million. Limelight Networks reported sales of $48.19 million in the same quarter last year, which indicates a positive year over year growth rate of 5%. The company is scheduled to announce its next quarterly earnings report on Wednesday, February 6th.

On average, analysts expect that Limelight Networks will report full-year sales of $202.29 million for the current financial year, with estimates ranging from $201.50 million to $203.24 million. For the next fiscal year, analysts expect that the company will report sales of $220.96 million, with estimates ranging from $219.06 million to $223.56 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Limelight Networks.

Limelight Networks (NASDAQ:LLNW) last released its earnings results on Thursday, October 18th. The information services provider reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. Limelight Networks had a net margin of 7.07% and a return on equity of 2.32%. The firm had revenue of $49.32 million for the quarter, compared to analyst estimates of $49.01 million. During the same period last year, the firm earned $0.02 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year.

Several research firms have commented on LLNW. BidaskClub raised shares of Limelight Networks from a “strong sell” rating to a “sell” rating in a report on Friday, August 24th. Craig Hallum began coverage on shares of Limelight Networks in a report on Monday, August 27th. They issued a “buy” rating and a $6.00 target price on the stock. ValuEngine lowered shares of Limelight Networks from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. TheStreet lowered shares of Limelight Networks from a “b-” rating to a “c+” rating in a report on Tuesday, October 30th. Finally, DA Davidson set a $7.00 target price on shares of Limelight Networks and gave the company a “buy” rating in a report on Monday, October 8th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $6.21.

In other news, insider Kurt Silverman sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $5.00, for a total value of $37,500.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Robert A. Lento sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $4.89, for a total transaction of $195,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,000 shares of company stock worth $654,000. 10.60% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Strs Ohio boosted its position in Limelight Networks by 8.0% during the 2nd quarter. Strs Ohio now owns 160,700 shares of the information services provider’s stock worth $718,000 after buying an additional 11,900 shares during the period. Jefferies Group LLC boosted its position in Limelight Networks by 53.1% during the 3rd quarter. Jefferies Group LLC now owns 60,008 shares of the information services provider’s stock worth $301,000 after buying an additional 20,808 shares during the period. MML Investors Services LLC acquired a new stake in Limelight Networks during the 3rd quarter worth approximately $106,000. Vanguard Group Inc. boosted its position in Limelight Networks by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,881,182 shares of the information services provider’s stock worth $24,503,000 after buying an additional 21,464 shares during the period. Finally, BlackRock Inc. boosted its position in Limelight Networks by 0.3% during the 3rd quarter. BlackRock Inc. now owns 7,729,999 shares of the information services provider’s stock worth $38,805,000 after buying an additional 22,448 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

LLNW stock opened at $3.29 on Friday. Limelight Networks has a 12 month low of $3.15 and a 12 month high of $5.74. The stock has a market capitalization of $383.76 million, a price-to-earnings ratio of -164.50, a PEG ratio of 7.53 and a beta of 2.47.

About Limelight Networks

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, and social channels. It provides Orchestrate Platform, a suite of integrated services comprising content delivery, video content management, Website and Web application acceleration, Website and content security, and cloud storage services.

See Also: Price to Earnings Ratio (PE)

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