Analysts expect Limelight Networks, Inc. (NASDAQ:LLNW) to post $48.92 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Limelight Networks’ earnings, with the highest sales estimate coming in at $49.99 million and the lowest estimate coming in at $48.04 million. Limelight Networks reported sales of $46.07 million in the same quarter last year, which would indicate a positive year over year growth rate of 6.2%. The business is expected to announce its next earnings results after the market closes on Thursday, October 18th.
On average, analysts expect that Limelight Networks will report full year sales of $202.99 million for the current fiscal year, with estimates ranging from $201.50 million to $204.39 million. For the next year, analysts anticipate that the company will report sales of $222.19 million, with estimates ranging from $216.70 million to $226.87 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Limelight Networks.
Limelight Networks (NASDAQ:LLNW) last issued its earnings results on Thursday, July 19th. The information services provider reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. The business had revenue of $50.25 million for the quarter, compared to the consensus estimate of $49.64 million. Limelight Networks had a net margin of 6.43% and a return on equity of 1.99%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 EPS.
LLNW has been the topic of a number of recent research reports. DA Davidson set a $7.00 price objective on shares of Limelight Networks and gave the company a “buy” rating in a research note on Monday, October 8th. Craig Hallum initiated coverage on shares of Limelight Networks in a research note on Monday, August 27th. They set a “buy” rating and a $6.00 price objective on the stock. BidaskClub upgraded shares of Limelight Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, September 5th. Zacks Investment Research downgraded shares of Limelight Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Finally, Cowen reiterated a “buy” rating and set a $6.50 price objective on shares of Limelight Networks in a research note on Friday, July 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $6.21.
Shares of LLNW stock opened at $4.90 on Tuesday. The stock has a market capitalization of $565.46 million, a price-to-earnings ratio of -245.00, a P/E/G ratio of 12.17 and a beta of 2.33. Limelight Networks has a one year low of $3.69 and a one year high of $6.05.
In other Limelight Networks news, 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 value of $195,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kurt Silverman sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $5.00, for a total transaction of $37,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,400 shares of company stock worth $778,516. Insiders own 10.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. United Services Automobile Association boosted its stake in Limelight Networks by 38.6% in the second quarter. United Services Automobile Association now owns 1,767,744 shares of the information services provider’s stock valued at $7,902,000 after acquiring an additional 492,658 shares in the last quarter. Northern Trust Corp boosted its stake in Limelight Networks by 23.1% in the second quarter. Northern Trust Corp now owns 1,280,427 shares of the information services provider’s stock valued at $5,724,000 after acquiring an additional 240,642 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Limelight Networks by 4.8% in the second quarter. Bank of New York Mellon Corp now owns 651,824 shares of the information services provider’s stock valued at $2,914,000 after acquiring an additional 29,619 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Limelight Networks in the second quarter valued at approximately $2,347,000. Finally, Granahan Investment Management Inc. MA boosted its stake in Limelight Networks by 118.3% in the second quarter. Granahan Investment Management Inc. MA now owns 4,359,817 shares of the information services provider’s stock valued at $19,488,000 after acquiring an additional 2,363,057 shares in the last quarter. Institutional investors own 72.84% of the company’s stock.
Limelight Networks Company Profile
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.
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