Limelight Networks (NASDAQ:LLNW) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of Limelight Networks (NASDAQ:LLNW) from a sell rating to a hold rating in a research report released on Thursday morning, BidAskClub reports.

Several other research firms have also commented on LLNW. Zacks Investment Research lowered Limelight Networks from a buy rating to a hold rating in a research note on Tuesday, August 25th. ValuEngine lowered Limelight Networks from a buy rating to a hold rating in a research note on Wednesday, June 3rd. Raymond James increased their price target on Limelight Networks from $6.00 to $8.50 and gave the stock an outperform rating in a research note on Friday, June 26th. Lake Street Capital increased their price target on Limelight Networks from $8.00 to $9.00 and gave the stock a buy rating in a research note on Tuesday, July 21st. Finally, B. Riley increased their price target on Limelight Networks from $7.50 to $9.00 and gave the stock a buy rating in a research note on Friday, July 17th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $7.98.

LLNW opened at $6.39 on Thursday. Limelight Networks has a 12 month low of $2.78 and a 12 month high of $8.19. The business’s 50-day moving average price is $5.81 and its 200-day moving average price is $5.71.

Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings results on Monday, July 20th. The information services provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $58.55 million for the quarter, compared to the consensus estimate of $56.72 million. Limelight Networks had a negative return on equity of 4.42% and a negative net margin of 3.21%. Limelight Networks’s revenue was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.03) EPS. On average, analysts predict that Limelight Networks will post -0.07 earnings per share for the current year.

In other Limelight Networks news, CFO Sajid Malhotra sold 100,000 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $6.25, for a total transaction of $625,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Thomas Marth sold 10,080 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $7.32, for a total transaction of $73,785.60. The disclosure for this sale can be found here. Insiders have sold a total of 592,929 shares of company stock valued at $4,155,030 in the last three months. Insiders own 11.70% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. American International Group Inc. lifted its holdings in shares of Limelight Networks by 3.7% in the 2nd quarter. American International Group Inc. now owns 70,984 shares of the information services provider’s stock valued at $522,000 after acquiring an additional 2,543 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Limelight Networks by 1.6% in the 1st quarter. Swiss National Bank now owns 226,000 shares of the information services provider’s stock valued at $1,288,000 after acquiring an additional 3,500 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Limelight Networks by 17.0% in the 1st quarter. SG Americas Securities LLC now owns 24,449 shares of the information services provider’s stock valued at $139,000 after acquiring an additional 3,550 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Limelight Networks by 57.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,691 shares of the information services provider’s stock valued at $71,000 after acquiring an additional 3,551 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in shares of Limelight Networks by 40.0% in the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 16,100 shares of the information services provider’s stock valued at $118,000 after acquiring an additional 4,600 shares during the last quarter. 79.10% of the stock is owned by hedge funds and other institutional investors.

About Limelight Networks

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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Analyst Recommendations for Limelight Networks (NASDAQ:LLNW)

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