Limelight Networks (NASDAQ:LLNW) Rating Lowered to Sell at BidaskClub

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Limelight Networks (NASDAQ:LLNW) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, BidAskClub reports.

Other equities analysts have also issued reports about the company. Zacks Investment Research lowered Limelight Networks from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. B. Riley restated a “buy” rating and issued a $5.00 target price on shares of Limelight Networks in a research note on Monday, July 15th. DA Davidson restated a “neutral” rating and issued a $2.70 target price on shares of Limelight Networks in a research note on Tuesday, July 2nd. Finally, ValuEngine upgraded Limelight Networks from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Limelight Networks has a consensus rating of “Hold” and a consensus price target of $4.57.

NASDAQ:LLNW opened at $2.23 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10. Limelight Networks has a 52-week low of $2.20 and a 52-week high of $5.32. The firm has a market cap of $259.13 million, a price-to-earnings ratio of -111.50 and a beta of 2.03. The business’s fifty day moving average is $2.52 and its 200 day moving average is $2.88.

Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings data on Wednesday, July 17th. The information services provider reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Limelight Networks had a negative net margin of 11.63% and a negative return on equity of 13.07%. The company had revenue of $45.90 million for the quarter, compared to the consensus estimate of $46.40 million. During the same quarter in the previous year, the firm posted $0.04 earnings per share. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. Equities analysts predict that Limelight Networks will post -0.13 EPS for the current fiscal year.

In other news, SVP Thomas Marth acquired 21,550 shares of Limelight Networks stock in a transaction dated Thursday, July 25th. The shares were purchased at an average cost of $2.32 per share, for a total transaction of $49,996.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Sajid Malhotra acquired 20,000 shares of Limelight Networks stock in a transaction dated Wednesday, July 24th. The shares were purchased at an average price of $2.28 per share, for a total transaction of $45,600.00. The disclosure for this purchase can be found here. 10.40% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Amalgamated Bank bought a new position in shares of Limelight Networks during the 4th quarter valued at about $38,000. Jane Street Group LLC bought a new position in shares of Limelight Networks during the 4th quarter valued at about $41,000. Meitav Dash Investments Ltd. bought a new position in shares of Limelight Networks during the 1st quarter valued at about $44,000. Legal & General Group Plc increased its position in shares of Limelight Networks by 25.1% during the 4th 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, Cibc Bank USA bought a new position in shares of Limelight Networks during the 2nd quarter valued at about $54,000. Hedge funds and other institutional investors own 72.23% of the company’s stock.

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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