Limelight Networks, Inc. (LLNW) Sets New 12-Month High at $5.97
Limelight Networks, Inc. (NASDAQ:LLNW)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $5.97 and last traded at $5.94, with a volume of 756321 shares trading hands. The stock had previously closed at $5.66.
A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Friday, October 20th. Cowen and Company restated an “outperform” rating and issued a $6.00 price objective (up from $4.00) on shares of Limelight Networks in a research report on Thursday, October 19th. B. Riley raised their price objective on shares of Limelight Networks from $5.30 to $6.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. DA Davidson set a $5.50 price objective on shares of Limelight Networks and gave the company a “buy” rating in a research report on Monday, October 16th. Finally, BidaskClub upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $5.00.
Limelight Networks (NASDAQ:LLNW) last announced its earnings results on Wednesday, October 18th. The information services provider reported $0.02 earnings per share (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 during the quarter, compared to analyst estimates of $43.09 million. Limelight Networks’s revenue was up 16.7% on a year-over-year basis. analysts predict that Limelight Networks, Inc. will post -0.04 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in LLNW. Vanguard Group Inc. lifted its position in Limelight Networks by 24.0% during the first quarter. Vanguard Group Inc. now owns 3,307,238 shares of the information services provider’s stock valued at $8,533,000 after purchasing an additional 639,265 shares during the last quarter. EAM Investors LLC bought a new stake in Limelight Networks during the second quarter valued at approximately $1,252,000. Algert Global LLC lifted its position in Limelight Networks by 614.3% during the second quarter. Algert Global LLC now owns 392,017 shares of the information services provider’s stock valued at $1,133,000 after purchasing an additional 337,139 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in Limelight Networks during the second quarter valued at approximately $970,000. Finally, First Washington CORP lifted its position in Limelight Networks by 19.7% during the second quarter. First Washington CORP now owns 1,478,176 shares of the information services provider’s stock valued at $4,272,000 after purchasing an additional 243,055 shares during the last quarter. Institutional investors and hedge funds own 68.72% of the company’s stock.
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.
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