Limelight Networks (LLNW) Updates FY 2018 Earnings Guidance

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Limelight Networks (NASDAQ:LLNW) issued an update on its FY 2018 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.14-0.17 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.15. The company issued revenue guidance of $200-203 million, compared to the consensus revenue estimate of $202.78 million.Limelight Networks also updated its FY18 guidance to $0.14-0.17 EPS.

Shares of NASDAQ:LLNW opened at $5.08 on Friday. The company has a market capitalization of $558.70 million, a P/E ratio of -254.00, a PEG ratio of 13.23 and a beta of 2.33. Limelight Networks has a fifty-two week low of $3.69 and a fifty-two week high of $6.05.

Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings results on Thursday, October 18th. The information services provider reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. The business had revenue of $49.32 million for the quarter, compared to the consensus estimate of $49.01 million. Limelight Networks had a net margin of 6.43% and a return on equity of 1.99%. Limelight Networks’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the company posted $0.02 EPS. Research analysts predict that Limelight Networks will post 0.03 earnings per share for the current fiscal year.

LLNW has been the topic of a number of analyst reports. DA Davidson set a $7.00 price target on shares of Limelight Networks and gave the company a buy rating in a research report on Monday, October 8th. Craig Hallum initiated coverage on shares of Limelight Networks in a research report on Monday, August 27th. They issued a buy rating and a $6.00 price target on the stock. BidaskClub upgraded shares of Limelight Networks from a sell rating to a hold rating in a research report on Wednesday, September 5th. Zacks Investment Research downgraded shares of Limelight Networks from a hold rating to a sell rating in a research report on Wednesday, July 25th. Finally, Cowen reiterated a buy rating and issued a $6.50 price target on shares of Limelight Networks in a research report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $6.21.

In related news, CEO Robert A. Lento sold 40,000 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $4.94, for a total transaction of $197,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kurt Silverman sold 7,500 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $5.00, for a total value of $37,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,900 shares of company stock valued at $741,016. 10.60% of the stock is owned by company insiders.

A hedge fund recently raised its stake in Limelight Networks stock. Bank of New York Mellon Corp raised its holdings in shares of Limelight Networks, Inc. (NASDAQ:LLNW) by 4.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 651,824 shares of the information services provider’s stock after acquiring an additional 29,619 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.58% of Limelight Networks worth $2,914,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 72.85% of the company’s stock.

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.

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Earnings History and Estimates for Limelight Networks (NASDAQ:LLNW)

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