Limelight Networks Inc. (LLNW) Shares Up 12.4%
Limelight Networks Inc. (NASDAQ:LLNW)’s share price shot up 12.4% during trading on Friday . The stock traded as high as $2.04 and last traded at $1.99, with a volume of 659,180 shares trading hands. The stock had previously closed at $1.77.
Several research firms have commented on LLNW. B. Riley reiterated a “buy” rating and issued a $3.70 target price on shares of Limelight Networks in a research report on Tuesday, July 5th. FBR & Co reiterated a “hold” rating on shares of Limelight Networks in a research report on Thursday, April 28th. Finally, Zacks Investment Research upgraded Limelight Networks from a “hold” rating to a “buy” rating and set a $2.00 target price for the company in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $2.83.
The company’s market capitalization is $208.30 million. The firm’s 50 day moving average is $1.65 and its 200 day moving average is $1.54.
Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The company earned $43.56 million during the quarter, compared to analysts’ expectations of $43.84 million. During the same quarter last year, the firm posted ($0.04) earnings per share. Limelight Networks’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts expect that Limelight Networks Inc. will post $0.01 EPS for the current year.
A hedge fund recently raised its stake in Limelight Networks stock. Royce & Associates LLC raised its stake in Limelight Networks Inc. (NASDAQ:LLNW) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,909,735 shares of the company’s stock after buying an additional 73,500 shares during the period. Royce & Associates LLC owned about 1.89% of Limelight Networks worth $2,788,000 as of its most recent SEC filing.
Limelight Networks, Inc provides content delivery network services to deliver content over Internet. The Company operates a globally distributed, computing platform and provides services under the Orchestrate Platform, which include content delivery, video content management, Website and Web application acceleration, Website and content security and cloud storage services.
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