Limelight Networks (LLNW) Stock Rating Lowered by Zacks Investment Research

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

A number of other research firms have also issued reports on LLNW. BidaskClub lowered shares of Limelight Networks from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Raymond James upgraded shares of Limelight Networks from an “underperform” rating to a “market perform” rating in a research note on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Limelight Networks has an average rating of “Hold” and a consensus price target of $6.31.

LLNW opened at $3.00 on Wednesday. The company has a market cap of $337.04 million, a PE ratio of -150.00 and a beta of 2.70. Limelight Networks has a 52-week low of $2.21 and a 52-week high of $5.52.

Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings data on Wednesday, April 17th. The information services provider reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The firm had revenue of $43.28 million for the quarter, compared to analysts’ expectations of $44.87 million. Limelight Networks had a net margin of 0.61% and a negative return on equity of 8.17%. The company’s revenue for the quarter was down 17.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 EPS.

Several hedge funds have recently added to or reduced their stakes in LLNW. B. Riley Wealth Management Inc. bought a new stake in Limelight Networks in the third quarter worth about $81,000. Amalgamated Bank purchased a new position in Limelight Networks in the 4th quarter worth about $38,000. Jane Street Group LLC purchased a new position in Limelight Networks in the 4th quarter worth about $41,000. Legal & General Group Plc increased its stake in Limelight Networks by 25.1% in the 4th quarter. Legal & General Group Plc now owns 20,034 shares of the information services provider’s stock worth $46,000 after purchasing an additional 4,014 shares in the last quarter. Finally, Mackay Shields LLC purchased a new position in Limelight Networks in the 4th quarter worth about $58,000. 74.33% of the stock is 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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