Zacks: Analysts Anticipate Limelight Networks, Inc. (LLNW) to Post $0.01 Earnings Per Share

Wall Street brokerages expect that Limelight Networks, Inc. (NASDAQ:LLNW) will post $0.01 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Limelight Networks’ earnings. The lowest EPS estimate is $0.00 and the highest is $0.02. Limelight Networks reported earnings of $0.02 per share in the same quarter last year, which would suggest a negative year over year growth rate of 50%. The firm is expected to report its next earnings report after the market closes on Wednesday, February 7th.

On average, analysts expect that Limelight Networks will report full-year earnings of $0.08 per share for the current year, with EPS estimates ranging from $0.07 to $0.09. For the next financial year, analysts forecast that the business will post earnings of $0.10 per share, with EPS estimates ranging from $0.10 to $0.11. Zacks’ earnings per share averages are a mean 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 data on Wednesday, October 18th. The information services provider reported $0.02 earnings per share for the quarter. Limelight Networks had a negative net margin of 5.91% and a negative return on equity of 3.29%. The business had revenue of $46.07 million during the quarter, compared to analysts’ expectations of $43.09 million. Limelight Networks’s revenue was up 16.7% compared to the same quarter last year.

A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded 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. B. Riley restated a “buy” rating and issued a $6.00 price objective on shares of Limelight Networks in a research note on Monday, December 4th. 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. Cowen restated 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, BidaskClub cut shares of Limelight Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $5.00.

Shares of Limelight Networks (LLNW) traded down $0.17 during trading on Friday, hitting $4.23. 1,398,574 shares of the stock were exchanged, compared to its average volume of 714,767. Limelight Networks has a twelve month low of $2.02 and a twelve month high of $6.05. The firm has a market capitalization of $482.73, a PE ratio of -42.30, a price-to-earnings-growth ratio of 705.00 and a beta of 2.54.

In related news, Director Mark J. Midle sold 15,000,000 shares of the company’s 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 37.60% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in LLNW. EAM Investors LLC acquired a new position in Limelight Networks during the 2nd quarter valued at $1,252,000. Hillsdale Investment Management Inc. acquired a new position in Limelight Networks during the 2nd quarter valued at $970,000. State Street Corp raised its stake in Limelight Networks by 10.4% during 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 purchasing an additional 118,836 shares during the last quarter. Northern Trust Corp raised its stake in Limelight Networks by 13.5% during the 2nd quarter. Northern Trust Corp now owns 815,108 shares of the information services provider’s stock valued at $2,356,000 after purchasing an additional 96,776 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Limelight Networks during the 2nd quarter valued at $220,000. Hedge funds and other institutional investors own 69.96% of the company’s stock.

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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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Earnings History and Estimates for Limelight Networks (NASDAQ:LLNW)

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