Wall Street brokerages forecast that Limelight Networks, Inc. (NASDAQ:LLNW) will report earnings per share of $0.03 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Limelight Networks’ earnings. The highest EPS estimate is $0.04 and the lowest is $0.02. Limelight Networks posted earnings per share of $0.02 in the same quarter last year, which would indicate a positive year over year growth rate of 50%. The company is scheduled to report its next quarterly earnings report on Wednesday, October 17th.
According to Zacks, analysts expect that Limelight Networks will report full-year earnings of $0.15 per share for the current financial year, with EPS estimates ranging from $0.13 to $0.17. For the next financial year, analysts forecast that the business will post earnings of $0.20 per share, with EPS estimates ranging from $0.14 to $0.22. Zacks’ EPS calculations are an average based on a survey of research firms that follow Limelight Networks.
Get Limelight Networks alerts:Limelight Networks (NASDAQ:LLNW) last released its earnings results on Thursday, July 19th. The information services provider reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. Limelight Networks had a negative net margin of 2.16% and a positive return on equity of 1.50%. The firm had revenue of $50.25 million during the quarter, compared to analyst estimates of $49.64 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year.
Several analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Limelight Networks from a “hold” rating to a “strong-buy” rating and set a $5.75 target price for the company in a research note on Wednesday, June 20th. ValuEngine upgraded shares of Limelight Networks from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. BidaskClub lowered shares of Limelight Networks from a “hold” rating to a “sell” rating in a research note on Tuesday, June 12th. DA Davidson reiterated a “buy” rating on shares of Limelight Networks in a research note on Monday. Finally, Cowen reiterated a “buy” rating and set a $6.50 target price on shares of Limelight Networks in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $5.95.
LLNW stock traded up $0.45 during trading on Friday, hitting $5.15. 4,069,200 shares of the company’s stock traded hands, compared to its average volume of 1,063,521. Limelight Networks has a 52 week low of $3.12 and a 52 week high of $6.05. The firm has a market cap of $523.40 million, a price-to-earnings ratio of -257.50, a PEG ratio of 59.13 and a beta of 2.33.
In other news, CEO Robert A. Lento sold 40,000 shares of the company’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $4.46, for a total transaction of $178,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey T. Fisher sold 52,500 shares of the company’s stock in a transaction dated Tuesday, April 24th. The stock was sold at an average price of $4.96, for a total transaction of $260,400.00. The disclosure for this sale can be found here. Insiders have sold 453,076 shares of company stock valued at $2,303,281 in the last 90 days. Insiders own 10.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in LLNW. BlackRock Inc. lifted its holdings in Limelight Networks by 1.7% in the first quarter. BlackRock Inc. now owns 7,051,038 shares of the information services provider’s stock worth $28,980,000 after purchasing an additional 116,844 shares during the period. Hood River Capital Management LLC lifted its holdings in Limelight Networks by 67.6% in the first quarter. Hood River Capital Management LLC now owns 5,801,635 shares of the information services provider’s stock worth $23,845,000 after purchasing an additional 2,339,680 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Limelight Networks by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,827,837 shares of the information services provider’s stock worth $15,732,000 after purchasing an additional 130,168 shares during the period. Renaissance Technologies LLC lifted its holdings in Limelight Networks by 18.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,970,655 shares of the information services provider’s stock worth $13,101,000 after purchasing an additional 462,800 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Limelight Networks by 33.3% in the first quarter. JPMorgan Chase & Co. now owns 2,167,381 shares of the information services provider’s stock worth $8,908,000 after purchasing an additional 540,889 shares during the period. Institutional investors and hedge funds own 70.57% of the company’s stock.
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, 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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