Research Analysts Set Expectations for Limelight Networks, Inc.’s Q3 2018 Earnings (LLNW)
Limelight Networks, Inc. (NASDAQ:LLNW) – Investment analysts at B. Riley increased their Q3 2018 earnings per share estimates for Limelight Networks in a report released on Thursday. B. Riley analyst S. Sinha now expects that the information services provider will earn $0.00 per share for the quarter, up from their previous estimate of ($0.01). B. Riley currently has a “Buy” rating and a $6.00 target price on the stock. B. Riley also issued estimates for Limelight Networks’ Q4 2018 earnings at $0.01 EPS.
A number of other analysts have also weighed in on the company. BidaskClub lowered Limelight Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Zacks Investment Research lowered Limelight Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Cowen restated an “outperform” rating and issued a $6.00 target price (up from $4.00) on shares of Limelight Networks in a research note on Thursday, October 19th. Finally, DA Davidson set a $5.50 price objective on Limelight Networks and gave the stock a “buy” rating in a research report on Monday, October 16th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $5.63.
Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.03. The company had revenue of $48.19 million during the quarter, compared to analysts’ expectations of $47.74 million. Limelight Networks had a negative return on equity of 1.50% and a negative net margin of 4.14%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the business earned $0.02 earnings per share.
In related news, Director Mark J. Midle sold 15,000,000 shares of Limelight Networks stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $4.35, for a total value of $65,250,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 37.60% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in LLNW. TIAA CREF Investment Management LLC boosted its holdings in Limelight Networks by 14.3% during the second quarter. TIAA CREF Investment Management LLC now owns 486,409 shares of the information services provider’s stock worth $1,406,000 after buying an additional 60,752 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Limelight Networks by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,872,233 shares of the information services provider’s stock worth $11,191,000 after buying an additional 50,901 shares during the last quarter. State Street Corp boosted its holdings in Limelight Networks by 10.4% during the second quarter. State Street Corp now owns 1,263,427 shares of the information services provider’s stock worth $3,650,000 after buying an additional 118,836 shares during the last quarter. Teachers Advisors LLC boosted its holdings in Limelight Networks by 27.7% during the second quarter. Teachers Advisors LLC now owns 231,693 shares of the information services provider’s stock worth $670,000 after buying an additional 50,265 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Limelight Networks by 13.5% during the second quarter. Northern Trust Corp now owns 815,108 shares of the information services provider’s stock worth $2,356,000 after buying an additional 96,776 shares during the last quarter. Hedge funds and other institutional investors own 70.42% of the company’s stock.
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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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