Limelight Networks (NASDAQ:LLNW) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Limelight Networks (NASDAQ:LLNW) from a sell rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

According to Zacks, “LIMELIGHT NETWORKS, INC. is a content delivery partner enabling the next wave of Internet business and entertainment. More than 1300 Internet, entertainment, software, and technology brands trust their robust, scalable platform to monetize their digital assets by delivering a brilliant online experience to their global audience. LimeLight’s architecture bypasses the busy public Internet using a dedicated optical network that interconnects thousands of servers and delivers massive files at the speed of light — directly to the access networks that consumers use every day. LimeLight’s proven network and passion for service assures their customers that every object in their library will be instantly delivered to every user, every time. “

LLNW has been the topic of a number of other reports. ValuEngine raised Limelight Networks from a hold rating to a buy rating in a report on Thursday, August 1st. BidaskClub raised Limelight Networks from a hold rating to a buy rating in a report on Friday, September 13th. B. Riley reaffirmed a buy rating and issued a $5.00 target price on shares of Limelight Networks in a report on Monday, July 15th. Finally, DA Davidson reaffirmed a neutral rating and issued a $2.70 target price on shares of Limelight Networks in a report on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Limelight Networks has an average rating of Buy and an average price target of $3.85.

Shares of Limelight Networks stock opened at $3.07 on Wednesday. Limelight Networks has a one year low of $2.20 and a one year high of $5.32. The stock’s fifty day moving average is $2.59 and its 200 day moving average is $2.82. The stock has a market cap of $370.68 million, a P/E ratio of -153.50 and a beta of 2.12. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10.

Limelight Networks (NASDAQ:LLNW) last announced its earnings results on Wednesday, July 17th. The information services provider reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.02). Limelight Networks had a negative return on equity of 13.07% and a negative net margin of 11.63%. The company had revenue of $45.90 million during the quarter, compared to the consensus estimate of $46.40 million. During the same period in the prior year, the business posted $0.04 earnings per share. Limelight Networks’s revenue for the quarter was down 8.6% compared to the same quarter last year. Analysts predict that Limelight Networks will post -0.13 EPS for the current year.

In other Limelight Networks news, SVP Thomas Marth purchased 21,550 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were acquired at an average cost of $2.32 per share, with a total value of $49,996.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sajid Malhotra purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were acquired at an average cost of $2.28 per share, for a total transaction of $45,600.00. The disclosure for this purchase can be found here. 10.40% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. Meitav Dash Investments Ltd. bought a new stake in Limelight Networks during the first quarter valued at about $44,000. Cibc Bank USA bought a new stake in Limelight Networks during the second quarter valued at about $54,000. Jane Street Group LLC bought a new stake in Limelight Networks during the second quarter valued at about $61,000. SG Americas Securities LLC bought a new stake in Limelight Networks during the first quarter valued at about $66,000. Finally, GSA Capital Partners LLP bought a new stake in Limelight Networks during the second quarter valued at about $73,000. 76.19% of the stock is currently owned by institutional investors and hedge funds.

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, social, and other digital initiatives.

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