Limelight Networks (LLNW) Issues Earnings Results, Hits Expectations
Limelight Networks (NASDAQ:LLNW) posted its quarterly earnings data on Thursday. The information services provider reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03, Briefing.com reports. The firm had revenue of $49.32 million during the quarter, compared to analysts’ expectations of $49.01 million. Limelight Networks had a return on equity of 2.38% and a net margin of 7.07%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 EPS. Limelight Networks updated its FY 2018 guidance to $0.14-0.17 EPS and its FY18 guidance to $0.14-0.17 EPS.
LLNW traded down $0.83 during midday trading on Friday, hitting $4.25. The company’s stock had a trading volume of 4,847,937 shares, compared to its average volume of 806,221. The stock has a market capitalization of $572.22 million, a price-to-earnings ratio of -212.50, a price-to-earnings-growth ratio of 13.55 and a beta of 2.33. Limelight Networks has a 52-week low of $3.69 and a 52-week high of $6.05.
In other Limelight Networks news, insider Kurt Silverman sold 7,500 shares of Limelight Networks stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $5.00, for a total value of $37,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert A. Lento sold 40,000 shares of Limelight Networks stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $4.42, for a total value of $176,800.00. The disclosure for this sale can be found here. Insiders sold a total of 154,900 shares of company stock valued at $741,016 in the last 90 days. 10.60% of the stock is owned by company insiders.
A number of research firms recently commented on LLNW. TheStreet upgraded Limelight Networks from a “c” rating to a “b-” rating in a research report on Thursday, July 19th. ValuEngine cut Limelight Networks from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. BidaskClub cut Limelight Networks from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 30th. DA Davidson reiterated a “buy” rating on shares of Limelight Networks in a research report on Monday, July 16th. Finally, Cowen reiterated a “buy” rating and set a $6.50 price objective on shares of Limelight Networks in a research report on Friday, July 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $6.21.
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, and social channels. It provides Orchestrate Platform, a suite of integrated services comprising content delivery, video content management, Website and Web application acceleration, Website and content security, and cloud storage services.
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