Edgio, Inc. (NASDAQ:EGIO) Expected to Post Q3 2023 Earnings of ($0.09) Per Share

Edgio, Inc. (NASDAQ:EGIO) – Investment analysts at DA Davidson upped their Q3 2023 earnings estimates for Edgio in a report released on Wednesday, September 13th. DA Davidson analyst R. Kessinger now forecasts that the company will post earnings of ($0.09) per share for the quarter, up from their prior forecast of ($0.10). DA Davidson currently has a “Neutral” rating and a $0.75 target price on the stock. The consensus estimate for Edgio’s current full-year earnings is ($0.45) per share. DA Davidson also issued estimates for Edgio’s FY2023 earnings at ($0.39) EPS and FY2024 earnings at ($0.32) EPS.

Separately, Lake Street Capital lowered their target price on shares of Edgio from $2.00 to $1.50 and set a “buy” rating for the company in a report on Thursday, July 20th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Edgio presently has a consensus rating of “Hold” and an average target price of $2.38.

Edgio Price Performance

Edgio stock opened at $0.76 on Friday. Edgio has a 1 year low of $0.45 and a 1 year high of $3.17. The firm has a 50 day moving average price of $0.78 and a 200 day moving average price of $0.72. The company has a market cap of $170.88 million, a price-to-earnings ratio of -1.06 and a beta of 1.00. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.12 and a current ratio of 0.94.

Edgio (NASDAQ:EGIO) last released its earnings results on Tuesday, August 15th. The company reported ($0.12) earnings per share (EPS) for the quarter. Edgio had a negative net margin of 37.36% and a negative return on equity of 41.54%. The company had revenue of $101.95 million during the quarter.

Institutional Investors Weigh In On Edgio

Institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD purchased a new stake in Edgio during the fourth quarter worth approximately $26,000. Schonfeld Strategic Advisors LLC purchased a new stake in Edgio during the second quarter worth approximately $27,000. Mercer Global Advisors Inc. ADV purchased a new stake in Edgio during the fourth quarter worth approximately $28,000. MetLife Investment Management LLC purchased a new stake in Edgio during the fourth quarter worth approximately $28,000. Finally, Savant Capital LLC purchased a new stake in Edgio during the fourth quarter worth approximately $31,000. 23.16% of the stock is currently owned by hedge funds and other institutional investors.

Edgio Company Profile

Edgio, Inc provides edge-enabled software solutions 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 platform, media, and application solutions.