Limelight Networks (NASDAQ:LLNW) Lifted to Buy at BidaskClub

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BidaskClub upgraded shares of Limelight Networks (NASDAQ:LLNW) from a hold rating to a buy rating in a report issued on Friday, BidAskClub reports.

Several other equities analysts have also commented on the stock. B. Riley reaffirmed a buy rating and set a $5.00 price target on shares of Limelight Networks in a research report on Monday, July 15th. Zacks Investment Research lowered shares of Limelight Networks from a hold rating to a sell rating in a research report on Friday, July 19th. DA Davidson reissued a neutral rating and issued a $2.70 price objective on shares of Limelight Networks in a research report on Tuesday, July 2nd. Finally, ValuEngine raised shares of Limelight Networks from a hold rating to a buy rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $3.85.

Shares of LLNW stock opened at $3.21 on Friday. Limelight Networks has a one year low of $2.20 and a one year high of $5.32. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10. The company has a 50 day moving average price of $2.55 and a 200 day moving average price of $2.81. The firm has a market capitalization of $373.01 million, a price-to-earnings ratio of -160.50 and a beta of 2.12.

Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings results on Wednesday, July 17th. The information services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Limelight Networks had a negative return on equity of 13.07% and a negative net margin of 11.63%. The company had revenue of $45.90 million for the quarter, compared to analyst estimates of $46.40 million. During the same period last year, the company posted $0.04 EPS. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. As a group, equities analysts forecast that Limelight Networks will post -0.13 EPS for the current fiscal year.

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

Several institutional investors have recently added to or reduced their stakes in the company. River & Mercantile Asset Management LLP acquired a new stake in shares of Limelight Networks in the second quarter worth $1,364,000. Harvey Partners LLC increased its position in shares of Limelight Networks by 10.3% in the second quarter. Harvey Partners LLC now owns 645,000 shares of the information services provider’s stock worth $1,742,000 after acquiring an additional 60,000 shares in the last quarter. United Services Automobile Association increased its position in shares of Limelight Networks by 2.1% in the second quarter. United Services Automobile Association now owns 1,410,143 shares of the information services provider’s stock worth $3,807,000 after acquiring an additional 29,200 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Limelight Networks in the second quarter worth $3,839,000. Finally, Jane Street Group LLC acquired a new stake in shares of Limelight Networks in the second quarter worth $61,000. 76.19% of the stock is owned by institutional investors.

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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