Limelight Networks (NASDAQ:LLNW) Hits New 52-Week High at $5.69

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Limelight Networks, Inc. (NASDAQ:LLNW) reached a new 52-week high during trading on Friday . The company traded as high as $5.69 and last traded at $5.52, with a volume of 22855 shares. The stock had previously closed at $5.56.

A number of research firms have recently commented on LLNW. DA Davidson lifted their target price on Limelight Networks to $4.10 and gave the stock a “neutral” rating in a research note on Wednesday, December 11th. B. Riley reiterated a “buy” rating and set a $6.50 target price on shares of Limelight Networks in a research note on Tuesday, January 28th. BidaskClub cut Limelight Networks from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 4th. Zacks Investment Research upgraded Limelight Networks from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, ValuEngine cut Limelight Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Limelight Networks currently has an average rating of “Hold” and an average target price of $5.30.

The stock has a 50 day moving average of $4.87 and a 200-day moving average of $3.76. The firm has a market capitalization of $617.97 million, a P/E ratio of -42.15 and a beta of 2.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.19 and a current ratio of 2.19.

Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings data on Wednesday, January 29th. The information services provider reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. Limelight Networks had a negative return on equity of 10.02% and a negative net margin of 8.00%. The business had revenue of $60.13 million for the quarter, compared to analysts’ expectations of $58.79 million. Limelight Networks’s quarterly revenue was up 36.7% compared to the same quarter last year. As a group, sell-side analysts expect that Limelight Networks, Inc. will post -0.07 EPS for the current year.

A number of institutional investors have recently made changes to their positions in LLNW. Vanguard Group Inc. raised its stake in Limelight Networks by 7.7% in the 2nd quarter. Vanguard Group Inc. now owns 5,830,689 shares of the information services provider’s stock valued at $15,742,000 after acquiring an additional 415,347 shares during the period. Jane Street Group LLC bought a new stake in Limelight Networks in the 2nd quarter valued at about $61,000. Nuveen Asset Management LLC bought a new stake in Limelight Networks in the 2nd quarter valued at about $3,839,000. Creative Financial Designs Inc. ADV raised its stake in Limelight Networks by 12.6% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 41,900 shares of the information services provider’s stock valued at $121,000 after acquiring an additional 4,700 shares during the period. Finally, Rhumbline Advisers raised its stake in Limelight Networks by 5.5% in the 3rd quarter. Rhumbline Advisers now owns 161,577 shares of the information services provider’s stock valued at $490,000 after acquiring an additional 8,475 shares during the period. Institutional investors and hedge funds own 76.59% of the company’s stock.

Limelight Networks Company Profile (NASDAQ:LLNW)

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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