Shares of Limelight Networks, Inc. (NASDAQ:LLNW) have been assigned an average rating of “Buy” from the six ratings firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $5.83.

A number of research firms recently weighed in on LLNW. B. Riley reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Limelight Networks in a research note on Monday, December 4th. Zacks Investment Research raised shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research note on Friday, October 20th. BidaskClub lowered shares of Limelight Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Cowen reaffirmed an “outperform” rating and issued a $6.00 price objective (up from $4.00) on shares of Limelight Networks in a research note on Thursday, October 19th. Finally, DA Davidson set a $5.50 price objective on shares of Limelight Networks and gave the stock a “buy” rating in a research note on Monday, October 16th.

Limelight Networks (NASDAQ:LLNW) traded down $0.12 during midday trading on Friday, hitting $4.06. 1,554,700 shares of the stock were exchanged, compared to its average volume of 687,378. The company has a market capitalization of $449.96, a PE ratio of -57.99, a PEG ratio of 609.00 and a beta of 2.45. Limelight Networks has a 12-month low of $2.10 and a 12-month high of $6.05.

Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings results on Wednesday, February 7th. The information services provider reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.03. Limelight Networks had a negative net margin of 4.14% and a negative return on equity of 1.50%. The firm had revenue of $48.19 million for the quarter, compared to analysts’ expectations of $47.74 million. During the same period in the prior year, the business posted $0.02 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis.

In related news, Director Mark J. Midle sold 15,000,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $4.35, for a total value of $65,250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 37.60% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its position in shares of Limelight Networks by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 66,823 shares of the information services provider’s stock valued at $193,000 after buying an additional 3,090 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Limelight Networks by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 289,101 shares of the information services provider’s stock valued at $1,148,000 after buying an additional 10,368 shares during the last quarter. Cornerstone Capital Management Holdings LLC. lifted its position in shares of Limelight Networks by 19.7% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 147,760 shares of the information services provider’s stock valued at $426,000 after buying an additional 24,300 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Limelight Networks by 36.4% during the fourth quarter. Wells Fargo & Company MN now owns 105,431 shares of the information services provider’s stock valued at $465,000 after buying an additional 28,159 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Limelight Networks during the fourth quarter valued at about $129,000. 70.42% of the stock is owned by institutional investors and hedge funds.

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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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