Limelight Networks (LLNW) Releases FY18 Earnings Guidance
Limelight Networks (NASDAQ:LLNW) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.14-0.17 for the period, compared to the Thomson Reuters consensus estimate of $0.15. The company issued revenue guidance of $200-203 million, compared to the consensus revenue estimate of $202.78 million.Limelight Networks also updated its FY 2018 guidance to $0.14-0.17 EPS.
Several brokerages have weighed in on LLNW. TheStreet raised shares of Limelight Networks from a c rating to a b- rating in a research note on Thursday, July 19th. ValuEngine lowered shares of Limelight Networks from a strong-buy rating to a buy rating in a research note on Tuesday, June 26th. BidaskClub raised shares of Limelight Networks from a sell rating to a hold rating in a research note on Wednesday, September 5th. Craig Hallum began coverage on shares of Limelight Networks in a research note on Monday, August 27th. They set a buy rating and a $6.00 target price for the company. Finally, Zacks Investment Research lowered shares of Limelight Networks from a hold rating to a sell rating in a research note on Wednesday, July 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $6.21.
Shares of LLNW traded up $0.12 during mid-day trading on Thursday, hitting $5.08. 1,550,200 shares of the company’s stock were exchanged, compared to its average volume of 966,573. The stock has a market capitalization of $565.46 million, a PE ratio of -254.00, a P/E/G ratio of 12.17 and a beta of 2.33. Limelight Networks has a fifty-two week low of $3.69 and a fifty-two week high of $6.05.
In related news, CEO Robert A. Lento sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $4.89, for a total value of $195,600.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kurt Silverman sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $5.00, for a total transaction of $37,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 162,400 shares of company stock worth $778,516. 10.60% of the stock is owned by corporate insiders.
A hedge fund recently raised its stake in Limelight Networks stock. Bank of New York Mellon Corp grew its stake in shares of Limelight Networks, Inc. (NASDAQ:LLNW) by 4.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 651,824 shares of the information services provider’s stock after purchasing an additional 29,619 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.58% of Limelight Networks worth $2,914,000 as of its most recent filing with the Securities and Exchange Commission. 72.84% of the stock is currently owned by institutional investors.
About Limelight Networks
Limelight Networks, Inc provides content delivery and related services and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers services and solutions for businesses to deliver their digital content across Internet, mobile, and social channels. It provides Orchestrate Platform, a suite of integrated services comprising content delivery, video content management, Website and Web application acceleration, Website and content security, and cloud storage services.
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