Limelight Networks Inc. (LLNW) Trading 12.4% Higher
Limelight Networks Inc. (NASDAQ:LLNW) shares traded up 12.4% on Friday . The stock traded as high as $2.04 and last traded at $1.99, with a volume of 659,180 shares traded. The stock had previously closed at $1.77.
Several research analysts have recently weighed in on the company. B. Riley reissued a “buy” rating and issued a $3.70 price objective on shares of Limelight Networks in a research report on Thursday, April 28th. FBR & Co reissued a “hold” rating on shares of Limelight Networks in a research report on Thursday, April 28th. Finally, Zacks Investment Research raised Limelight Networks from a “hold” rating to a “buy” rating and set a $2.00 price objective 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 company currently has an average rating of “Buy” and an average target price of $2.83.
The company’s 50 day moving average price is $1.65 and its 200 day moving average price is $1.54. The stock’s market capitalization is $208.30 million.
Limelight Networks (NASDAQ:LLNW) last announced its earnings results on Wednesday, July 27th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the 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. The firm’s revenue was down .5% on a year-over-year basis. On average, equities research analysts anticipate that Limelight Networks Inc. will post $0.01 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Limelight Networks stock. Royce & Associates LLC raised its stake in shares of Limelight Networks Inc. (NASDAQ:LLNW) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 approximately 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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