Limelight Networks (NASDAQ:LLNW) issued its earnings results on Wednesday. The information services provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02), Morningstar.com reports. Limelight Networks had a negative net margin of 11.63% and a negative return on equity of 12.93%. The business had revenue of $45.90 million for the quarter, compared to analysts’ expectations of $46.40 million. During the same quarter in the prior year, the business posted $0.04 earnings per share. The business’s revenue for the quarter was down 8.6% on a year-over-year basis. Limelight Networks updated its FY 2019 guidance to $0.00-0.00 EPS and its FY19 guidance to approx breakeven EPS.
NASDAQ LLNW opened at $2.36 on Friday. The company’s fifty day moving average price is $2.76. The company has a market cap of $283.77 million, a PE ratio of -118.00 and a beta of 2.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.16 and a quick ratio of 2.16. Limelight Networks has a 1-year low of $2.21 and a 1-year high of $5.32.
Several analysts have commented on LLNW shares. DA Davidson set a $16.00 target price on Redfin and gave the company a “hold” rating in a research note on Tuesday, July 2nd. BidaskClub raised Zebra Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. B. Riley set a $82.00 price target on Consolidated-Tomoka Land and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Zacks Investment Research raised Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $5.05.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Limelight Networks by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,372,620 shares of the information services provider’s stock valued at $10,232,000 after buying an additional 60,933 shares during the period. Federated Investors Inc. PA lifted its holdings in shares of Limelight Networks by 23.5% during the 1st quarter. Federated Investors Inc. PA now owns 4,325,000 shares of the information services provider’s stock valued at $13,970,000 after buying an additional 822,552 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Limelight Networks by 3.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,379,013 shares of the information services provider’s stock valued at $10,913,000 after buying an additional 118,724 shares during the period. DDD Partners LLC lifted its holdings in shares of Limelight Networks by 0.5% during the 1st quarter. DDD Partners LLC now owns 1,681,093 shares of the information services provider’s stock valued at $5,430,000 after buying an additional 8,228 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Limelight Networks by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 1,255,100 shares of the information services provider’s stock worth $2,936,000 after purchasing an additional 67,107 shares during the period. 73.03% of the stock is currently 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.
See Also: What is the Producer Price Index (PPI)?
Receive News & Ratings for Limelight Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Limelight Networks and related companies with MarketBeat.com's FREE daily email newsletter.