Limelight Networks (LLNW) Releases Earnings Results, Beats Estimates By $0.03 EPS
Limelight Networks (NASDAQ:LLNW) posted its quarterly earnings results on Wednesday. The information services provider reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.03, Briefing.com reports. Limelight Networks had a negative return on equity of 3.29% and a negative net margin of 5.91%. The firm had revenue of $48.19 million for the quarter, compared to the consensus estimate of $47.74 million. During the same period in the previous year, the business earned $0.02 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Limelight Networks updated its FY18 guidance to $0.11-0.15 EPS.
Limelight Networks (NASDAQ:LLNW) traded down $0.05 during trading on Thursday, hitting $4.27. The company had a trading volume of 535,474 shares, compared to its average volume of 659,273. Limelight Networks has a 12-month low of $2.10 and a 12-month high of $6.05. The stock has a market capitalization of $491.36, a P/E ratio of -43.20, a PEG ratio of 669.00 and a beta of 2.45.
In related news, Director Mark J. Midle sold 15,000,000 shares of Limelight Networks stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $4.35, for a total value of $65,250,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 37.60% of the stock is owned by insiders.
LLNW has been the topic of a number of analyst reports. B. Riley restated a “buy” rating and issued a $6.00 price target on shares of Limelight Networks in a research note on Wednesday, December 13th. Zacks Investment Research upgraded Limelight Networks from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research note on Friday, October 20th. DA Davidson set a $5.50 price target on Limelight Networks and gave the company a “buy” rating in a research note on Monday, October 16th. BidaskClub downgraded Limelight Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, Cowen restated an “outperform” rating and issued a $6.00 price target (up from $4.00) on shares of Limelight Networks in a research note on Thursday, October 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Limelight Networks presently has a consensus rating of “Buy” and an average price target of $5.00.
About Limelight Networks
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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