Limelight Networks’ (NASDAQ:LLNW) Buy Rating Reiterated at B. Riley

Limelight Networks (NASDAQ:LLNW)‘s stock had its “buy” rating restated by equities research analysts at B. Riley in a note issued to investors on Thursday, December 21st. They currently have a $6.00 target price on the information services provider’s stock. B. Riley’s price target points to a potential upside of 41.84% from the company’s current price.

Several other equities analysts also recently issued reports on LLNW. Zacks Investment Research raised shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a report on Thursday, September 28th. DA Davidson set a $5.50 price objective on shares of Limelight Networks and gave the stock a “buy” rating in a research report on Monday, October 16th. Finally, Cowen restated an “outperform” rating and set a $6.00 price objective (up from $4.00) on shares of Limelight Networks in a research report on Thursday, October 19th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Limelight Networks presently has an average rating of “Buy” and a consensus price target of $5.00.

Limelight Networks (NASDAQ:LLNW) opened at $4.23 on Thursday. The stock has a market cap of $482.73, a P/E ratio of -42.30, a price-to-earnings-growth ratio of 705.00 and a beta of 2.54. Limelight Networks has a 52 week low of $2.02 and a 52 week high of $6.05.

Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings data on Wednesday, October 18th. The information services provider reported $0.02 EPS for the quarter. Limelight Networks had a negative net margin of 5.91% and a negative return on equity of 3.29%. The business had revenue of $46.07 million for the quarter, compared to the consensus estimate of $43.09 million. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. research analysts forecast that Limelight Networks will post -0.04 earnings per share for the current year.

In other Limelight Networks news, Director Mark J. Midle sold 15,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $4.35, for a total transaction of $65,250,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 37.60% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Algert Global LLC increased its holdings in shares of Limelight Networks by 16.3% in the 3rd quarter. Algert Global LLC now owns 455,787 shares of the information services provider’s stock valued at $1,809,000 after acquiring an additional 63,770 shares during the period. Wolverine Trading LLC increased its stake in Limelight Networks by 761.3% in the 3rd quarter. Wolverine Trading LLC now owns 37,766 shares of the information services provider’s stock valued at $150,000 after buying an additional 43,477 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Limelight Networks by 61.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 147,000 shares of the information services provider’s stock valued at $584,000 after buying an additional 56,100 shares during the period. Wells Fargo & Company MN increased its stake in Limelight Networks by 72.8% in the 3rd quarter. Wells Fargo & Company MN now owns 77,272 shares of the information services provider’s stock valued at $307,000 after buying an additional 32,543 shares during the period. Finally, EAM Investors LLC increased its stake in Limelight Networks by 64.8% in the 3rd quarter. EAM Investors LLC now owns 714,391 shares of the information services provider’s stock valued at $2,836,000 after buying an additional 281,022 shares during the period. 69.96% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: This story was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The legal version of this story can be read at https://ledgergazette.com/2018/01/13/b-riley-reaffirms-buy-rating-for-limelight-networks-llnw.html.

Limelight Networks Company Profile

Limelight Networks, Inc operates a distributed network and provides a suite of integrated services marketed as the Limelight Orchestrate Platform. The Company is engaged in providing content delivery and related services and solutions for global businesses to help them deliver their digital content across Internet, mobile, and social channels.

Receive News & Ratings for Limelight Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Limelight Networks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply