Limelight Networks (NASDAQ:LLNW) Rating Lowered to Sell at Zacks Investment Research

Limelight Networks (NASDAQ:LLNW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, 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. “

Other analysts have also recently issued research reports about the company. ValuEngine cut Limelight Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. BidaskClub raised Limelight Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, January 8th. DA Davidson lifted their price objective on Limelight Networks to $4.10 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Finally, B. Riley lifted their price objective on Limelight Networks from $3.70 to $4.10 and gave the company a “buy” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $4.10.

Shares of LLNW traded up $0.36 during trading hours on Tuesday, reaching $5.23. The company’s stock had a trading volume of 136,079 shares, compared to its average volume of 682,763. The company has a 50 day moving average of $4.18 and a two-hundred day moving average of $3.36. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.08. The firm has a market cap of $523.19 million, a price-to-earnings ratio of -262.00 and a beta of 2.15. Limelight Networks has a 1-year low of $2.20 and a 1-year high of $4.91.

Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings results on Wednesday, October 16th. The information services provider reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $51.32 million during the quarter, compared to analysts’ expectations of $49.89 million. Limelight Networks had a negative net margin of 12.84% and a negative return on equity of 14.82%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company posted $0.03 earnings per share. As a group, analysts forecast that Limelight Networks will post -0.14 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LLNW. Nuveen Asset Management LLC bought a new position in Limelight Networks during the second quarter valued at about $3,839,000. River & Mercantile Asset Management LLP acquired a new stake in Limelight Networks in the 2nd quarter worth approximately $1,364,000. Vanguard Group Inc. boosted its position in Limelight Networks by 7.7% during the second quarter. Vanguard Group Inc. now owns 5,830,689 shares of the information services provider’s stock worth $15,742,000 after purchasing an additional 415,347 shares during the period. Granahan Investment Management Inc. MA boosted its position in Limelight Networks by 14.9% during the third quarter. Granahan Investment Management Inc. MA now owns 3,208,416 shares of the information services provider’s stock worth $9,722,000 after purchasing an additional 415,102 shares during the period. Finally, Adirondack Research & Management Inc. grew its holdings in Limelight Networks by 34.8% during the third quarter. Adirondack Research & Management Inc. now owns 386,005 shares of the information services provider’s stock valued at $1,170,000 after purchasing an additional 99,605 shares during the last quarter. 77.14% of the stock is owned by hedge funds and other institutional investors.

About Limelight Networks

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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