Limelight Networks (NASDAQ:LLNW) Upgraded by ValuEngine to Buy

ValuEngine upgraded shares of Limelight Networks (NASDAQ:LLNW) from a hold rating to a buy rating in a research report report published on Thursday morning, ValuEngine reports.

A number of other research analysts also recently commented on the stock. William Blair started coverage on shares of Limelight Networks in a research note on Friday, March 6th. They set an outperform rating on the stock. Northland Securities started coverage on shares of Limelight Networks in a research note on Monday, March 30th. They set an outperform rating and a $8.00 price objective on the stock. BidaskClub upgraded shares of Limelight Networks from a buy rating to a strong-buy rating in a research note on Wednesday, April 1st. Zacks Investment Research downgraded shares of Limelight Networks from a buy rating to a hold rating in a research note on Wednesday, April 1st. Finally, B. Riley reissued a buy rating and set a $6.50 target price on shares of Limelight Networks in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $6.03.

Shares of LLNW stock traded up $0.38 on Thursday, hitting $5.89. The stock had a trading volume of 1,409,300 shares, compared to its average volume of 1,471,612. The firm has a market capitalization of $686.16 million, a price-to-earnings ratio of -45.31 and a beta of 1.35. The stock’s 50 day moving average is $5.02 and its 200-day moving average is $4.39. 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 has a 52-week low of $2.20 and a 52-week high of $6.18.

Limelight Networks (NASDAQ:LLNW) last announced its earnings results on Wednesday, January 29th. The information services provider reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $60.13 million during the quarter, compared to the consensus estimate of $58.79 million. Limelight Networks had a negative net margin of 8.00% and a negative return on equity of 10.02%. Limelight Networks’s revenue for the quarter was up 36.7% compared to the same quarter last year. Equities analysts expect that Limelight Networks will post -0.06 earnings per share for the current year.

In other Limelight Networks news, Director Jeffrey T. Fisher sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $5.60, for a total value of $112,000.00. Following the completion of the transaction, the director now directly owns 342,231 shares in the company, valued at $1,916,493.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 10.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Lord Abbett & CO. LLC acquired a new position in shares of Limelight Networks in the fourth quarter worth about $9,444,000. State Street Corp boosted its holdings in shares of Limelight Networks by 4.2% during the fourth quarter. State Street Corp now owns 2,278,761 shares of the information services provider’s stock worth $9,297,000 after purchasing an additional 92,270 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of Limelight Networks during the fourth quarter worth approximately $9,262,000. Royce & Associates LP boosted its holdings in shares of Limelight Networks by 44.1% during the fourth quarter. Royce & Associates LP now owns 2,000,953 shares of the information services provider’s stock worth $8,164,000 after purchasing an additional 612,181 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Limelight Networks by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 1,537,134 shares of the information services provider’s stock worth $6,271,000 after purchasing an additional 54,891 shares during the period. Institutional investors own 78.04% of the company’s stock.

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, social, and other digital initiatives.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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