Equities analysts forecast that Limelight Networks, Inc. (NASDAQ:LLNW) will post earnings of ($0.02) per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Limelight Networks’ earnings. The highest EPS estimate is $0.00 and the lowest is ($0.04). The firm is expected to issue its next earnings report after the market closes on Thursday, April 29th.

On average, analysts expect that Limelight Networks will report full-year earnings of ($0.04) per share for the current financial year, with EPS estimates ranging from ($0.08) to $0.03. For the next fiscal year, analysts forecast that the business will report earnings of $0.01 per share, with EPS estimates ranging from ($0.03) to $0.08. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Limelight Networks.

Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings results on Thursday, February 11th. The information services provider reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.05). The firm had revenue of $55.39 million during the quarter, compared to analysts’ expectations of $61.58 million. Limelight Networks had a negative net margin of 3.62% and a negative return on equity of 4.51%.

Several brokerages have recently commented on LLNW. Truist lowered shares of Limelight Networks from a “buy” rating to a “hold” rating in a research note on Friday, February 12th. Raymond James lowered shares of Limelight Networks from an “outperform” rating to a “market perform” rating in a research report on Friday, February 12th. B. Riley restated a “neutral” rating and issued a $5.00 price target on shares of Limelight Networks in a research report on Friday, January 29th. Cowen downgraded shares of Limelight Networks from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $9.00 to $4.75 in a report on Tuesday, February 2nd. Finally, DA Davidson reduced their price objective on shares of Limelight Networks from $3.00 to $2.75 and set an “underperform” rating for the company in a report on Friday, March 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Limelight Networks currently has a consensus rating of “Hold” and an average target price of $6.32.

In related news, CEO Robert A. Lento sold 24,097 shares of the company’s stock in a transaction dated Friday, January 15th. The shares were sold at an average price of $4.08, for a total transaction of $98,315.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Genereux sold 15,000 shares of the stock in a transaction dated Wednesday, January 27th. The stock was sold at an average price of $5.00, for a total transaction of $75,000.00. The disclosure for this sale can be found here. 10.40% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley increased its position in Limelight Networks by 77.2% during the 3rd quarter. Morgan Stanley now owns 187,944 shares of the information services provider’s stock valued at $1,083,000 after purchasing an additional 81,851 shares during the period. California Public Employees Retirement System grew its position in shares of Limelight Networks by 2.1% during the 3rd quarter. California Public Employees Retirement System now owns 268,549 shares of the information services provider’s stock worth $1,547,000 after buying an additional 5,634 shares during the period. Rhumbline Advisers grew its position in shares of Limelight Networks by 5.9% during the 4th quarter. Rhumbline Advisers now owns 155,258 shares of the information services provider’s stock worth $619,000 after buying an additional 8,700 shares during the period. Kennedy Capital Management Inc. grew its position in Limelight Networks by 26.2% in the 4th quarter. Kennedy Capital Management Inc. now owns 1,032,830 shares of the information services provider’s stock valued at $4,121,000 after purchasing an additional 214,386 shares during the period. Finally, Baird Financial Group Inc. acquired a new stake in Limelight Networks in the 4th quarter valued at $82,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

LLNW stock traded down $0.02 during midday trading on Friday, reaching $3.61. The company had a trading volume of 9,535 shares, compared to its average volume of 5,157,541. Limelight Networks has a 1 year low of $2.76 and a 1 year high of $8.19. The company has a current ratio of 5.34, a quick ratio of 5.34 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $448.13 million, a P/E ratio of -60.50 and a beta of 0.72. The company has a 50 day moving average of $3.48 and a two-hundred day moving average of $4.31.

About Limelight Networks

Limelight Networks, Inc provides content delivery and related services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates private networks that deliver Websites, mobile applications, videos, music, software, games, and APIs; offers live and on-demand video delivery services; and provides online video platforms that help organizations manage, publish, syndicate, analyze, and monetize video contents.

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