Limelight Networks Inc. (LLNW) Cut to “Hold” at Zacks Investment Research
Limelight Networks Inc. (NASDAQ:LLNW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “LIMELIGHT NETWORKS, INC. is a content delivery partner enabling the next wave of Internet business and entertainment. More than 1300 Internet, entertainment, software, and technology brands trust their robust, scalable platform to monetize their digital assets by delivering a brilliant online experience to their global audience. LimeLight’s architecture bypasses the busy public Internet using a dedicated optical network that interconnects thousands of servers and delivers massive files at the speed of light — directly to the access networks that consumers use every day. LimeLight’s proven network and passion for service assures their customers that every object in their library will be instantly delivered to every user, every time. “
A number of other research firms also recently weighed in on LLNW. B. Riley restated a “buy” rating and issued a $3.70 price target on shares of Limelight Networks in a research note on Tuesday, September 6th. FBR & Co raised their price target on shares of Limelight Networks from $1.50 to $2.50 and gave the company a “market perform” rating in a research note on Thursday, September 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $2.99.
Limelight Networks (NASDAQ:LLNW) opened at 1.84 on Wednesday. The firm’s market cap is $192.60 million. The stock has a 50 day moving average of $1.73 and a 200 day moving average of $1.60. Limelight Networks has a 12-month low of $0.90 and a 12-month high of $2.22.
Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. Limelight Networks had a negative net margin of 42.85% and a negative return on equity of 9.88%. The company had revenue of $43.56 million for the quarter, compared to the consensus estimate of $43.84 million. During the same period last year, the company posted ($0.04) EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that Limelight Networks will post $0.01 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Advisors LLC raised its position in Limelight Networks by 1.0% in the second quarter. BlackRock Advisors LLC now owns 618,362 shares of the company’s stock valued at $921,000 after buying an additional 6,306 shares during the last quarter. Cowen Group Inc. raised its position in Limelight Networks by 5.1% in the second quarter. Cowen Group Inc. now owns 102,500 shares of the company’s stock valued at $153,000 after buying an additional 5,000 shares during the last quarter. Royce & Associates LP raised its position in Limelight Networks by 1.5% in the second quarter. Royce & Associates LP now owns 1,820,818 shares of the company’s stock valued at $2,713,000 after buying an additional 26,504 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Limelight Networks by 39.9% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 915,911 shares of the company’s stock valued at $1,365,000 after buying an additional 261,100 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in Limelight Networks during the second quarter valued at about $184,000. Hedge funds and other institutional investors own 66.34% of the company’s stock.
Limelight Networks Company Profile
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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