Limelight Networks (LLNW) Posts Earnings Results, Beats Estimates By $0.03 EPS

Limelight Networks (NASDAQ:LLNW) released its quarterly earnings data on Wednesday. The information services provider reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03, Briefing.com reports. The company had revenue of $48.19 million during the quarter, compared to the consensus estimate of $47.74 million. Limelight Networks had a negative net margin of 5.91% and a negative return on equity of 3.29%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the firm earned $0.02 EPS. Limelight Networks updated its FY18 guidance to $0.11-0.15 EPS.

Limelight Networks (LLNW) traded down $0.10 on Thursday, reaching $4.22. 376,214 shares of the company’s stock traded hands, compared to its average volume of 655,364. The firm has a market cap of $491.36, a PE ratio of -43.20, a PEG ratio of 669.00 and a beta of 2.45. Limelight Networks has a 52-week low of $2.10 and a 52-week high of $6.05.

In other Limelight Networks news, Director Mark J. Midle sold 15,000,000 shares of the firm’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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 37.60% of the company’s stock.

A hedge fund recently raised its stake in Limelight Networks stock. The Manufacturers Life Insurance Company raised its stake in Limelight Networks, Inc. (NASDAQ:LLNW) by 4.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,823 shares of the information services provider’s stock after acquiring an additional 3,090 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Limelight Networks worth $193,000 as of its most recent filing with the Securities and Exchange Commission. 70.27% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the stock. B. Riley reissued a “buy” rating and set a $6.00 price target on shares of Limelight Networks in a report on Wednesday, December 13th. Zacks Investment Research raised shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a report on Friday, October 20th. DA Davidson set a $5.50 price target on shares of Limelight Networks and gave the company a “buy” rating in a report on Monday, October 16th. BidaskClub downgraded shares of Limelight Networks from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Finally, Cowen reissued an “outperform” rating and set a $6.00 price target (up from $4.00) on shares of Limelight Networks in a report on Thursday, October 19th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $5.00.

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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.

Earnings History for Limelight Networks (NASDAQ:LLNW)

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