Limelight Networks (LLNW) Lifted to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Limelight Networks (NASDAQ:LLNW) from a strong sell rating to a hold rating in a 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. “

Several other equities analysts have also issued reports on the company. Raymond James raised Limelight Networks from an underperform rating to a market perform rating in a research note on Tuesday, January 29th. BidaskClub raised Limelight Networks from a sell rating to a hold rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $6.31.

Shares of LLNW opened at $3.11 on Tuesday. Limelight Networks has a 12-month low of $2.21 and a 12-month high of $5.52. The firm has a market cap of $349.03 million, a PE ratio of -155.50, a PEG ratio of 30.55 and a beta of 2.70.

Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings results on Wednesday, April 17th. The information services provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Limelight Networks had a net margin of 5.03% and a negative return on equity of 1.34%. The firm had revenue of $43.28 million for the quarter, compared to analyst estimates of $44.87 million. During the same period last year, the company earned $0.06 EPS. The company’s revenue was down 17.0% compared to the same quarter last year. Analysts forecast that Limelight Networks will post 0.01 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Limelight Networks by 0.3% in the third quarter. BlackRock Inc. now owns 7,729,999 shares of the information services provider’s stock valued at $38,805,000 after buying an additional 22,448 shares during the period. Vanguard Group Inc lifted its stake in Limelight Networks by 0.4% in the third quarter. Vanguard Group Inc now owns 4,881,182 shares of the information services provider’s stock valued at $24,503,000 after buying an additional 21,464 shares during the period. Vanguard Group Inc. lifted its stake in Limelight Networks by 0.4% in the third quarter. Vanguard Group Inc. now owns 4,881,182 shares of the information services provider’s stock valued at $24,503,000 after buying an additional 21,464 shares during the period. Dimensional Fund Advisors LP lifted its stake in Limelight Networks by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,372,620 shares of the information services provider’s stock valued at $10,232,000 after buying an additional 60,933 shares during the period. Finally, United Services Automobile Association lifted its stake in Limelight Networks by 25.8% in the fourth quarter. United Services Automobile Association now owns 2,972,900 shares of the information services provider’s stock valued at $6,957,000 after buying an additional 610,277 shares during the period. 74.33% of the stock is currently 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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