Brokerages Anticipate Limelight Networks, Inc. (LLNW) Will Post Quarterly Sales of $44.61 Million

Wall Street brokerages forecast that Limelight Networks, Inc. (NASDAQ:LLNW) will post $44.61 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Limelight Networks’ earnings. The lowest sales estimate is $44.00 million and the highest is $45.00 million. Limelight Networks posted sales of $52.11 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 14.4%. The firm is scheduled to report its next quarterly earnings results on Thursday, April 18th.

According to Zacks, analysts expect that Limelight Networks will report full-year sales of $212.40 million for the current year, with estimates ranging from $204.00 million to $219.96 million. For the next financial year, analysts forecast that the firm will post sales of $246.23 million, with estimates ranging from $240.00 million to $251.61 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Limelight Networks.

Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings data on Wednesday, January 30th. The information services provider reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.04). The firm had revenue of $44.00 million during the quarter, compared to the consensus estimate of $43.73 million. Limelight Networks had a net margin of 5.03% and a negative return on equity of 1.34%. The company’s revenue was down 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.04 earnings per share.

Several equities research analysts recently weighed in on the company. BidaskClub raised Limelight Networks from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 30th. Raymond James raised Limelight Networks from an “underperform” rating to a “market perform” rating in a research report on Tuesday, January 29th. TheStreet downgraded Limelight Networks from a “b-” rating to a “c+” rating in a research note on Tuesday, October 30th. Finally, ValuEngine cut Limelight Networks from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $6.25.

Institutional investors have recently made changes to their positions in the stock. Citigroup Inc. raised its stake in shares of Limelight Networks by 15.5% in the 4th quarter. Citigroup Inc. now owns 35,413 shares of the information services provider’s stock valued at $83,000 after purchasing an additional 4,758 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Limelight Networks by 2.4% during the fourth quarter. California Public Employees Retirement System now owns 307,453 shares of the information services provider’s stock worth $719,000 after buying an additional 7,119 shares in the last quarter. WINTON GROUP Ltd lifted its position in shares of Limelight Networks by 59.6% in the 4th quarter. WINTON GROUP Ltd now owns 24,838 shares of the information services provider’s stock valued at $58,000 after acquiring an additional 9,278 shares in the last quarter. B. Riley Financial Inc. lifted its position in Limelight Networks by 2.8% in the 3rd quarter. B. Riley Financial Inc. now owns 467,626 shares of the information services provider’s stock worth $2,347,000 after buying an additional 12,785 shares in the last quarter. Finally, B. Riley Wealth Management Inc. bought a new position in shares of Limelight Networks during the 3rd quarter valued at $81,000. 71.77% of the stock is owned by hedge funds and other institutional investors.

LLNW stock traded up $0.01 during midday trading on Friday, hitting $2.98. The company had a trading volume of 22,015 shares, compared to its average volume of 635,620. The company has a market capitalization of $340.45 million, a P/E ratio of -149.75, a PEG ratio of 20.07 and a beta of 2.75. Limelight Networks has a 52 week low of $2.21 and a 52 week high of $5.52.

Limelight Networks Company Profile

Limelight Networks, Inc provides content delivery and related services and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers services and solutions for businesses to deliver their digital content across Internet, mobile, and social channels. It provides Orchestrate Platform, a suite of integrated services comprising content delivery, video content management, Website and Web application acceleration, Website and content security, and cloud storage services.

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

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