B. Riley Reiterates “Buy” Rating for Limelight Networks (LLNW)
B. Riley reiterated their buy rating on shares of Limelight Networks (NASDAQ:LLNW) in a research note published on Thursday. B. Riley currently has a $6.00 price target on the information services provider’s stock.
Several other equities analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Limelight Networks from a strong-buy rating to a hold rating in a report on Tuesday, December 19th. Cowen reissued an outperform rating and set a $6.00 price objective (up from $4.00) on shares of Limelight Networks in a report on Thursday, October 19th. Finally, DA Davidson set a $5.50 price target on shares of Limelight Networks and gave the stock a buy rating in a report on Monday, October 16th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $5.00.
Limelight Networks (NASDAQ:LLNW) opened at $4.65 on Thursday. The stock has a market cap of $510.16, a P/E ratio of -46.50 and a beta of 2.52. Limelight Networks has a 1-year low of $2.02 and a 1-year high of $6.05.
Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings data on Wednesday, October 18th. The information services provider reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $46.07 million for the quarter, compared to analyst estimates of $43.09 million. Limelight Networks had a negative net margin of 5.91% and a negative return on equity of 3.29%. The firm’s revenue was up 16.7% on a year-over-year basis. analysts anticipate that Limelight Networks will post -0.04 EPS for the current fiscal year.
In other Limelight Networks news, Director Mark J. Midle sold 15,000,000 shares of Limelight Networks stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $4.35, for a total value of $65,250,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 37.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in Limelight Networks by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,872,233 shares of the information services provider’s stock worth $11,191,000 after purchasing an additional 50,901 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Limelight Networks by 24.0% during the first quarter. Vanguard Group Inc. now owns 3,307,238 shares of the information services provider’s stock worth $8,533,000 after buying an additional 639,265 shares during the period. First Washington CORP lifted its stake in shares of Limelight Networks by 19.7% during the second quarter. First Washington CORP now owns 1,478,176 shares of the information services provider’s stock worth $4,272,000 after buying an additional 243,055 shares during the period. State Street Corp lifted its stake in shares of Limelight Networks by 10.4% during the second quarter. State Street Corp now owns 1,263,427 shares of the information services provider’s stock worth $3,650,000 after buying an additional 118,836 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Limelight Networks by 13.5% during the second quarter. Northern Trust Corp now owns 815,108 shares of the information services provider’s stock worth $2,356,000 after buying an additional 96,776 shares during the period. 69.96% of the stock is currently owned by institutional investors and hedge funds.
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Limelight Networks Company Profile
Limelight Networks, Inc operates a distributed network and provides a suite of integrated services marketed as the Limelight Orchestrate Platform. The Company is engaged in providing content delivery and related services and solutions for global businesses to help them deliver their digital content across Internet, mobile, and social channels.
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