Limelight Networks (NASDAQ:LLNW)‘s stock had its “buy” rating restated by stock analysts at B. Riley in a note issued to investors on Friday. They presently have a $6.00 price objective on the information services provider’s stock. B. Riley’s price target suggests a potential upside of 27.66% from the stock’s previous close.
A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Friday, October 20th. Cowen reiterated an “outperform” rating and issued a $6.00 target price (up previously from $4.00) on shares of Limelight Networks in a research note on Thursday, October 19th. 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. Finally, BidaskClub lowered shares of Limelight Networks from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Limelight Networks presently has an average rating of “Buy” and a consensus price target of $5.00.
Shares of Limelight Networks (NASDAQ LLNW) traded up $0.22 on Friday, reaching $4.70. 1,170,000 shares of the company’s stock were exchanged, compared to its average volume of 703,759. Limelight Networks has a 1 year low of $2.02 and a 1 year high of $6.05.
Limelight Networks (NASDAQ:LLNW) last posted its earnings results on Wednesday, October 18th. The information services provider reported $0.02 earnings per share (EPS) for the quarter. Limelight Networks had a negative net margin of 5.91% and a negative return on equity of 3.29%. The company had revenue of $46.07 million during the quarter, compared to analysts’ expectations of $43.09 million. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. equities analysts expect that Limelight Networks will post -0.04 EPS for the current year.
In other Limelight Networks news, Director Mark J. Midle sold 15,000,000 shares of Limelight Networks stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $4.35, for a total transaction of $65,250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 37.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LLNW. First Washington CORP grew its holdings in shares of Limelight Networks by 19.7% in the 2nd quarter. First Washington CORP now owns 1,478,176 shares of the information services provider’s stock valued at $4,272,000 after buying an additional 243,055 shares during the period. TIAA CREF Investment Management LLC grew its holdings in shares of Limelight Networks by 14.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 486,409 shares of the information services provider’s stock valued at $1,406,000 after buying an additional 60,752 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Limelight Networks by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,872,233 shares of the information services provider’s stock valued at $11,191,000 after buying an additional 50,901 shares during the period. State Street Corp grew its holdings in shares of Limelight Networks by 10.4% in the 2nd quarter. State Street Corp now owns 1,263,427 shares of the information services provider’s stock valued at $3,650,000 after buying an additional 118,836 shares during the period. Finally, Teachers Advisors LLC grew its holdings in shares of Limelight Networks by 27.7% in the 2nd quarter. Teachers Advisors LLC now owns 231,693 shares of the information services provider’s stock valued at $670,000 after buying an additional 50,265 shares during the period. 69.96% of the stock is owned by hedge funds and other institutional investors.
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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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