Limelight Networks (NASDAQ: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 report issued on Friday, 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 analysts have also recently weighed in on LLNW. BidaskClub raised shares of Zebra Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. B. Riley set a $82.00 target price on shares of Consolidated-Tomoka Land and gave the company a “buy” rating in a report on Monday, July 15th. Finally, DA Davidson set a $16.00 target price on shares of Redfin and gave the company a “hold” rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $4.57.

Shares of LLNW opened at $2.36 on Friday. The firm has a market capitalization of $283.77 million, a PE ratio of -118.00 and a beta of 2.07. Limelight Networks has a 1 year low of $2.21 and a 1 year high of $5.32. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.16 and a quick ratio of 2.16. The stock’s 50-day simple moving average is $2.76.

Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings results on Wednesday, July 17th. The information services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.02). The business had revenue of $45.90 million for the quarter, compared to analyst estimates of $46.40 million. Limelight Networks had a negative return on equity of 12.93% and a negative net margin of 11.63%. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.04 EPS. On average, equities research analysts forecast that Limelight Networks will post -0.04 EPS for the current year.

Large investors have recently modified their holdings of the stock. Meitav Dash Investments Ltd. acquired a new stake in Limelight Networks in the first quarter valued at approximately $44,000. Amalgamated Bank purchased a new position in Limelight Networks in the fourth quarter valued at approximately $38,000. Jane Street Group LLC purchased a new position in Limelight Networks in the fourth quarter valued at approximately $41,000. Legal & General Group Plc increased its stake in Limelight Networks by 25.1% in the fourth quarter. Legal & General Group Plc now owns 20,034 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 4,014 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Limelight Networks in the first quarter valued at approximately $66,000. 73.03% 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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