Brokerages expect that Limelight Networks, Inc. (NASDAQ:LLNW) will post earnings of ($0.01) per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Limelight Networks’ earnings. The highest EPS estimate is ($0.01) and the lowest is ($0.02). Limelight Networks posted earnings per share of ($0.02) during the same quarter last year, which would suggest a positive year over year growth rate of 50%. The business is expected to announce its next earnings results on Wednesday, July 26th.
According to Zacks, analysts expect that Limelight Networks will report full year earnings of ($0.05) per share for the current fiscal year, with EPS estimates ranging from ($0.06) to ($0.04). For the next year, analysts forecast that the company will post earnings of ($0.01) per share, with EPS estimates ranging from ($0.02) to $0.01. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Limelight Networks.
Limelight Networks (NASDAQ:LLNW) last announced its earnings results on Monday, April 24th. The information services provider reported $0.02 earnings per share for the quarter. Limelight Networks had a negative net margin of 42.13% and a negative return on equity of 7.97%. The business earned $44.70 million during the quarter, compared to the consensus estimate of $43.01 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year.
LLNW has been the topic of several analyst reports. B. Riley reaffirmed a “buy” rating and set a $3.70 price target on shares of Limelight Networks in a research note on Thursday, February 9th. Zacks Investment Research raised shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a research note on Friday. Cowen and Company set a $4.00 price target on shares of Limelight Networks and gave the stock a “buy” rating in a research note on Tuesday, April 25th. DA Davidson reaffirmed a “buy” rating on shares of Limelight Networks in a research note on Monday, April 3rd. Finally, FBR & Co reaffirmed a “hold” rating and set a $2.50 price target on shares of Limelight Networks in a research note on Thursday, February 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $3.38.
Shares of Limelight Networks (NASDAQ:LLNW) traded down 2.48% during midday trading on Tuesday, hitting $3.14. 937,424 shares of the stock traded hands. The stock’s market cap is $339.05 million. Limelight Networks has a one year low of $1.17 and a one year high of $3.24. The firm has a 50-day moving average price of $2.52 and a 200 day moving average price of $2.30.
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A number of large investors have recently added to or reduced their stakes in LLNW. Alambic Investment Management L.P. increased its stake in Limelight Networks by 39.4% in the third quarter. Alambic Investment Management L.P. now owns 59,440 shares of the information services provider’s stock valued at $111,000 after buying an additional 16,800 shares during the period. National Asset Management Inc. purchased a new stake in Limelight Networks during the third quarter valued at about $129,000. Russell Investments Group Ltd. purchased a new stake in Limelight Networks during the fourth quarter valued at about $173,000. Strs Ohio increased its stake in Limelight Networks by 58.4% in the first quarter. Strs Ohio now owns 68,100 shares of the information services provider’s stock valued at $175,000 after buying an additional 25,100 shares during the period. Finally, A.R.T. Advisors LLC increased its stake in Limelight Networks by 206.3% in the fourth quarter. A.R.T. Advisors LLC now owns 84,575 shares of the information services provider’s stock valued at $213,000 after buying an additional 56,959 shares during the period. 67.21% of the stock is currently owned by hedge funds and other institutional investors.
About Limelight Networks
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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