Limelight Networks, Inc. (NASDAQ:LLNW) Expected to Announce Quarterly Sales of $45.83 Million
Analysts predict that Limelight Networks, Inc. (NASDAQ:LLNW) will post $45.83 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Limelight Networks’ earnings. The lowest sales estimate is $45.30 million and the highest is $46.70 million. Limelight Networks posted sales of $43.56 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.2%. The business is expected to report its next earnings results after the market closes on Wednesday, July 26th.
On average, analysts expect that Limelight Networks will report full-year sales of $45.83 million for the current fiscal year, with estimates ranging from $179.33 million to $180.70 million. For the next year, analysts forecast that the business will report sales of $189.96 million per share, with estimates ranging from $187.42 million to $194.50 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Limelight Networks.
Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings results on Monday, April 24th. The information services provider reported $0.02 earnings per share for the quarter. The company had revenue of $44.70 million for the quarter, compared to the consensus estimate of $43.01 million. Limelight Networks had a negative net margin of 39.80% and a negative return on equity of 6.69%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.01) EPS.
LLNW has been the subject of several research analyst reports. B. Riley reiterated a “buy” rating and issued a $3.70 price objective on shares of Limelight Networks in a report on Wednesday, March 22nd. DA Davidson reiterated a “buy” rating on shares of Limelight Networks in a report on Monday, April 3rd. Cowen and Company reiterated a “buy” rating and issued a $3.00 price objective on shares of Limelight Networks in a report on Wednesday, April 5th. Finally, Zacks Investment Research upgraded Limelight Networks from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a report on Friday, April 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Limelight Networks currently has an average rating of “Buy” and an average target price of $3.38.
Shares of Limelight Networks (NASDAQ LLNW) traded down 0.63% during trading on Friday, hitting $3.13. 340,635 shares of the company were exchanged. Limelight Networks has a 1-year low of $1.45 and a 1-year high of $3.51. The company has a 50 day moving average of $2.99 and a 200-day moving average of $2.60. The stock’s market capitalization is $337.97 million.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Limelight Networks by 5.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,821,332 shares of the information services provider’s stock valued at $9,859,000 after buying an additional 211,905 shares during the last quarter. Cortina Asset Management LLC boosted its position in Limelight Networks by 25.0% in the first quarter. Cortina Asset Management LLC now owns 3,550,985 shares of the information services provider’s stock worth $9,162,000 after buying an additional 710,677 shares during the last quarter. Vanguard Group Inc. boosted its position in Limelight Networks by 24.0% in 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 last quarter. Hood River Capital Management LLC bought a new position in Limelight Networks during the first quarter worth $6,907,000. Finally, Renaissance Technologies LLC boosted its position in Limelight Networks by 1.1% in the first quarter. Renaissance Technologies LLC now owns 2,378,186 shares of the information services provider’s stock worth $6,136,000 after buying an additional 25,100 shares during the last quarter. 68.88% of the stock is currently owned by institutional investors and hedge funds.
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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