$58.90 Million in Sales Expected for Limelight Networks, Inc. (NASDAQ:LLNW) This Quarter

Brokerages predict that Limelight Networks, Inc. (NASDAQ:LLNW – Get Rating) will report sales of $58.90 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Limelight Networks’ earnings, with estimates ranging from $58.02 million to $59.47 million. Limelight Networks reported sales of $48.35 million in the same quarter last year, which indicates a positive year-over-year growth rate of 21.8%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Limelight Networks will report full year sales of $244.60 million for the current year, with estimates ranging from $242.33 million to $248.98 million. For the next year, analysts forecast that the firm will post sales of $267.05 million, with estimates ranging from $260.56 million to $271.39 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Limelight Networks.

Limelight Networks (NASDAQ:LLNW – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The information services provider reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). The firm had revenue of $58.00 million during the quarter, compared to analysts’ expectations of $56.15 million. Limelight Networks had a negative return on equity of 24.22% and a negative net margin of 22.60%. Limelight Networks’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) EPS.

LLNW has been the subject of several research reports. Cowen raised Limelight Networks from a “market perform” rating to an “outperform” rating and raised their target price for the company from $4.00 to $6.00 in a research note on Thursday, March 17th. Lake Street Capital increased their price target on Limelight Networks from $4.50 to $5.00 and gave the company a “buy” rating in a research report on Friday, January 21st. They noted that the move was a valuation call. StockNews.com raised Limelight Networks from a “sell” rating to a “hold” rating in a research note on Saturday, May 14th. TheStreet downgraded Limelight Networks from a “c-” rating to a “d+” rating in a research note on Monday, May 16th. Finally, Raymond James increased their price objective on Limelight Networks from $5.00 to $8.00 and gave the company a “strong-buy” rating in a report on Friday, March 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Limelight Networks currently has a consensus rating of “Buy” and a consensus target price of $5.34.

In other news, CEO Bob Lyons purchased 55,501 shares of the company’s stock in a transaction dated Wednesday, May 4th. The stock was bought at an average cost of $3.60 per share, for a total transaction of $199,803.60. Following the purchase, the chief executive officer now owns 1,123,963 shares of the company’s stock, valued at $4,046,266.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Peterschmidt bought 68,100 shares of the stock in a transaction that occurred on Friday, April 29th. The shares were bought at an average cost of $3.59 per share, with a total value of $244,479.00. Following the completion of the transaction, the director now owns 144,175 shares in the company, valued at $517,588.25. The disclosure for this purchase can be found here. 10.40% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of LLNW. Janus Henderson Group PLC acquired a new position in Limelight Networks during the 3rd quarter valued at about $30,000. Point72 Hong Kong Ltd purchased a new stake in Limelight Networks during the first quarter valued at about $47,000. Teacher Retirement System of Texas boosted its position in Limelight Networks by 25.5% during the third quarter. Teacher Retirement System of Texas now owns 19,998 shares of the information services provider’s stock valued at $48,000 after buying an additional 4,066 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Limelight Networks during the fourth quarter valued at about $52,000. Finally, Independent Advisor Alliance bought a new position in Limelight Networks in the first quarter worth about $67,000. Institutional investors own 51.29% of the company’s stock.

Shares of NASDAQ LLNW opened at $3.50 on Friday. Limelight Networks has a 1-year low of $2.30 and a 1-year high of $5.55. The firm has a market capitalization of $483.68 million, a PE ratio of -8.97 and a beta of 0.83. The business’s fifty day moving average price is $4.45 and its two-hundred day moving average price is $3.89. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.31 and a quick ratio of 3.31.

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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