Limelight Networks (NASDAQ:LLNW) Updates FY 2022 Earnings Guidance

Limelight Networks (NASDAQ:LLNWGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of -$0.06–$0.01 for the period, compared to the consensus earnings per share estimate of -$0.05. The company issued revenue guidance of $240.00 million-$250.00 million, compared to the consensus revenue estimate of $242.99 million.

A number of research firms have recently weighed in on LLNW. TheStreet raised shares of Limelight Networks from a d+ rating to a c- rating in a research report on Monday, March 21st. Truist Financial raised shares of Limelight Networks from a hold rating to a buy rating and boosted their price objective for the company from $3.00 to $7.00 in a research report on Tuesday, January 18th. Cowen raised shares of Limelight Networks from a market perform rating to an outperform rating and upped their price target for the stock from $4.00 to $6.00 in a research report on Thursday, March 17th. StockNews.com lowered shares of Limelight Networks from a hold rating to a sell rating in a research report on Friday. Finally, Raymond James upped their price target on shares of Limelight Networks from $5.00 to $8.00 and gave the stock a strong-buy rating in a research report on Friday, March 11th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Limelight Networks currently has an average rating of Buy and a consensus price target of $5.34.

Limelight Networks stock opened at $3.28 on Tuesday. Limelight Networks has a 52-week low of $2.30 and a 52-week high of $5.55. The firm has a fifty day moving average of $4.63 and a 200-day moving average of $3.88. The firm has a market capitalization of $453.28 million, a P/E ratio of -8.41 and a beta of 0.83. The company has a quick ratio of 3.65, a current ratio of 3.31 and a debt-to-equity ratio of 0.90.

Limelight Networks (NASDAQ:LLNWGet Rating) last released its quarterly earnings data on Thursday, April 28th. The information services provider reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). Limelight Networks had a negative net margin of 22.60% and a negative return on equity of 24.22%. The company had revenue of $58.00 million during the quarter, compared to analyst estimates of $56.15 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, research analysts expect that Limelight Networks will post -0.2 EPS for the current fiscal year.

In other news, CEO Bob Lyons bought 55,501 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The stock was acquired at an average cost of $3.60 per share, for a total transaction of $199,803.60. Following the completion of the purchase, the chief executive officer now owns 1,123,963 shares of the company’s stock, valued at $4,046,266.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Peterschmidt bought 68,100 shares of the firm’s stock in a transaction dated Friday, April 29th. The stock was purchased at an average price of $3.59 per share, with a total value of $244,479.00. Following the completion of the purchase, the director now directly owns 144,175 shares of the company’s stock, valued at approximately $517,588.25. The disclosure for this purchase can be found here. 10.20% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Deutsche Bank AG boosted its stake in Limelight Networks by 0.4% during the 4th quarter. Deutsche Bank AG now owns 1,132,200 shares of the information services provider’s stock valued at $3,883,000 after acquiring an additional 4,021 shares during the last quarter. California State Teachers Retirement System boosted its stake in Limelight Networks by 3.0% during the 4th quarter. California State Teachers Retirement System now owns 174,464 shares of the information services provider’s stock valued at $598,000 after acquiring an additional 5,012 shares during the last quarter. Invesco Ltd. boosted its stake in Limelight Networks by 5.6% during the 2nd quarter. Invesco Ltd. now owns 136,307 shares of the information services provider’s stock valued at $430,000 after acquiring an additional 7,168 shares during the last quarter. Credit Suisse AG boosted its stake in Limelight Networks by 6.1% during the 4th quarter. Credit Suisse AG now owns 151,643 shares of the information services provider’s stock valued at $519,000 after acquiring an additional 8,665 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its stake in Limelight Networks by 92.9% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 19,959 shares of the information services provider’s stock valued at $68,000 after acquiring an additional 9,612 shares during the last quarter. Hedge funds and other institutional investors own 51.29% of the company’s stock.

About Limelight Networks (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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