Wall Street brokerages forecast that Limelight Networks, Inc. (NASDAQ:LLNW) will report sales of $47.29 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Limelight Networks’ earnings, with the lowest sales estimate coming in at $46.00 million and the highest estimate coming in at $49.24 million. Limelight Networks reported sales of $50.25 million in the same quarter last year, which would suggest a negative year over year growth rate of 5.9%. The company is expected to announce its next quarterly earnings results on Thursday, July 18th.

According to Zacks, analysts expect that Limelight Networks will report full-year sales of $209.89 million for the current fiscal year, with estimates ranging from $203.30 million to $217.74 million. For the next fiscal year, analysts expect that the firm will report sales of $241.84 million, with estimates ranging from $233.60 million to $256.94 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Limelight Networks.

Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings results on Wednesday, April 17th. The information services provider reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). Limelight Networks had a negative return on equity of 8.25% and a net margin of 0.61%. The business had revenue of $43.28 million for the quarter, compared to the consensus estimate of $44.87 million. During the same quarter in the previous year, the business posted $0.06 EPS. The company’s revenue for the quarter was down 17.0% on a year-over-year basis.

A number of research firms recently commented on LLNW. Zacks Investment Research cut Limelight Networks from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. BidaskClub upgraded Limelight Networks from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.31.

Limelight Networks stock opened at $2.98 on Tuesday. Limelight Networks has a 52 week low of $2.21 and a 52 week high of $5.32. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.16 and a quick ratio of 2.16. The stock has a market cap of $353.85 million, a P/E ratio of -149.00 and a beta of 2.37.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in Limelight Networks by 0.8% during the first quarter. BlackRock Inc. now owns 7,732,810 shares of the information services provider’s stock worth $24,978,000 after acquiring an additional 58,567 shares during the last quarter. Vanguard Group Inc. lifted its position in Limelight Networks by 0.4% during the third quarter. Vanguard Group Inc. now owns 4,881,182 shares of the information services provider’s stock worth $24,503,000 after acquiring an additional 21,464 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Limelight Networks by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,435,981 shares of the information services provider’s stock worth $14,327,000 after acquiring an additional 63,361 shares during the last quarter. Federated Investors Inc. PA lifted its position in Limelight Networks by 23.5% during the first quarter. Federated Investors Inc. PA now owns 4,325,000 shares of the information services provider’s stock worth $13,970,000 after acquiring an additional 822,552 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Limelight Networks by 1.2% during the first quarter. Wellington Management Group LLP now owns 3,966,836 shares of the information services provider’s stock worth $12,813,000 after acquiring an additional 48,358 shares during the last quarter. Hedge funds and other institutional investors own 73.03% of the company’s stock.

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, social, and other digital initiatives.

Read More: Balanced Fund

Get a free copy of the Zacks research report on Limelight Networks (LLNW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Limelight Networks (NASDAQ:LLNW)

Receive News & Ratings for Limelight Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Limelight Networks and related companies with MarketBeat.com's FREE daily email newsletter.