Edgio (NASDAQ:EGIO) Trading 2.4% Higher

Shares of Edgio, Inc. (NASDAQ:EGIOGet Rating) traded up 2.4% during mid-day trading on Monday . The company traded as high as $3.50 and last traded at $3.48. 609,764 shares were traded during trading, a decline of 66% from the average session volume of 1,790,692 shares. The stock had previously closed at $3.40.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Cowen lowered their target price on shares of Edgio from $5.50 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, June 21st. Cowen boosted their target price on shares of Edgio to $5.75 in a report on Monday, August 22nd. Finally, DA Davidson lowered their target price on shares of Edgio to $3.25 in a report on Monday, August 15th.

Edgio Price Performance

The stock has a market capitalization of $480.92 million, a PE ratio of -8.92 and a beta of 0.85. The company has a fifty day simple moving average of $2.98. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.36.

Edgio (NASDAQ:EGIOGet Rating) last released its quarterly earnings results on Monday, August 8th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.09. The firm had revenue of $74.31 million for the quarter, compared to analysts’ expectations of $61.40 million. Edgio had a negative net margin of 21.34% and a negative return on equity of 9.75%. On average, research analysts expect that Edgio, Inc. will post -0.2 earnings per share for the current fiscal year.

About Edgio

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Edgio, Inc provides edge-enabled software solutions through an integrated delivery, applications, and streaming platform 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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