Analysts Expect Limelight Networks, Inc. (NASDAQ:LLNW) to Post -$0.02 EPS

Brokerages forecast that Limelight Networks, Inc. (NASDAQ:LLNWGet Rating) will post ($0.02) earnings per share for the current quarter, according to Zacks. Four analysts have made estimates for Limelight Networks’ earnings, with the lowest EPS estimate coming in at ($0.03) and the highest estimate coming in at ($0.01). Limelight Networks reported earnings of ($0.06) per share in the same quarter last year, which would indicate a positive year over year growth rate of 66.7%. The company is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Limelight Networks will report full-year earnings of ($0.05) per share for the current year, with EPS estimates ranging from ($0.10) to ($0.03). For the next financial year, analysts expect that the firm will post earnings of $0.01 per share, with EPS estimates ranging from ($0.06) to $0.06. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Limelight Networks.

Limelight Networks (NASDAQ:LLNWGet Rating) last posted its earnings results on Thursday, April 28th. The information services provider reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). The company had revenue of $58.00 million during the quarter, compared to analysts’ expectations of $56.15 million. Limelight Networks had a negative net margin of 22.60% and a negative return on equity of 24.09%. Limelight Networks’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.11) EPS.

LLNW has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Limelight Networks from a “sell” rating to a “hold” rating in a research note on Friday, February 11th. Lake Street Capital lifted their price objective on shares of Limelight Networks from $4.50 to $5.00 and gave the stock a “buy” rating in a research note on Friday, January 21st. They noted that the move was a valuation call. Raymond James lifted their price objective on shares of Limelight Networks from $5.00 to $8.00 and gave the stock a “strong-buy” rating in a research note on Friday, March 11th. Truist Financial upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $3.00 to $7.00 in a research note on Tuesday, January 18th. Finally, Northland Securities upgraded shares of Limelight Networks from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $5.00 to $6.50 in a research note on Tuesday, March 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $5.54.

NASDAQ LLNW opened at $3.57 on Friday. The firm has a 50-day moving average of $4.66 and a 200-day moving average of $3.84. The company has a debt-to-equity ratio of 0.86, a quick ratio of 3.65 and a current ratio of 3.65. Limelight Networks has a 52-week low of $2.30 and a 52-week high of $5.55.

A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in Limelight Networks by 6.7% in the 4th quarter. State Street Corp now owns 4,005,130 shares of the information services provider’s stock valued at $13,738,000 after buying an additional 251,134 shares during the period. Penserra Capital Management LLC increased its holdings in Limelight Networks by 16.1% in the 4th quarter. Penserra Capital Management LLC now owns 2,299,387 shares of the information services provider’s stock valued at $7,886,000 after buying an additional 319,494 shares during the period. Geode Capital Management LLC increased its holdings in Limelight Networks by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 2,169,537 shares of the information services provider’s stock valued at $7,441,000 after buying an additional 83,391 shares during the period. Pinnacle Associates Ltd. increased its holdings in Limelight Networks by 35.6% in the 4th quarter. Pinnacle Associates Ltd. now owns 2,106,348 shares of the information services provider’s stock valued at $7,225,000 after buying an additional 553,165 shares during the period. Finally, Granahan Investment Management Inc. MA increased its holdings in Limelight Networks by 4.6% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 1,944,533 shares of the information services provider’s stock valued at $4,628,000 after buying an additional 85,173 shares during the period. 51.29% of the stock is currently owned by hedge funds and other institutional investors.

Limelight Networks Company Profile (Get Rating)

Limelight Networks, Inc provides content delivery network and related services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates private global networks with distributed computing resources and extensive connectivity to last-mile broadband network providers; offers live and on-demand video delivery services; and provides online video platforms that integrates and manages advanced video delivery.

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