Analysts expect Limelight Networks, Inc. (NASDAQ:LLNW) to announce $60.00 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Limelight Networks’ earnings, with the highest sales estimate coming in at $61.21 million and the lowest estimate coming in at $59.39 million. Limelight Networks reported sales of $43.99 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 36.4%. The firm is expected to report its next quarterly earnings report on Wednesday, January 29th.
According to Zacks, analysts expect that Limelight Networks will report full-year sales of $200.50 million for the current financial year, with estimates ranging from $199.89 million to $201.71 million. For the next financial year, analysts expect that the firm will report sales of $228.41 million, with estimates ranging from $227.49 million to $229.88 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Limelight Networks.
Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings results on Wednesday, October 16th. The information services provider reported $0.01 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.01. The company had revenue of $51.32 million for the quarter, compared to analyst estimates of $49.89 million. Limelight Networks had a negative net margin of 12.84% and a negative return on equity of 14.82%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.03 earnings per share.
Several research analysts have recently issued reports on LLNW shares. Zacks Investment Research raised Limelight Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. BidaskClub raised Limelight Networks from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 24th. B. Riley lifted their price target on Limelight Networks from $3.70 to $4.10 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, ValuEngine raised Limelight Networks from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $3.40.
Shares of Limelight Networks stock opened at $4.25 on Friday. The firm has a market capitalization of $491.73 million, a P/E ratio of -212.50 and a beta of 2.22. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.08. Limelight Networks has a 52 week low of $2.20 and a 52 week high of $4.52. The firm’s 50 day moving average is $3.56 and its two-hundred day moving average is $2.95.
Several large investors have recently added to or reduced their stakes in LLNW. Municipal Employees Retirement System of Michigan purchased a new stake in Limelight Networks during the 2nd quarter worth about $324,000. Cibc Bank USA purchased a new stake in Limelight Networks during the 2nd quarter worth about $54,000. Swiss National Bank increased its position in Limelight Networks by 6.7% during the 2nd quarter. Swiss National Bank now owns 212,600 shares of the information services provider’s stock worth $574,000 after purchasing an additional 13,400 shares in the last quarter. Columbia Pacific Advisors LLC purchased a new stake in Limelight Networks during the 2nd quarter worth about $405,000. Finally, GSA Capital Partners LLP purchased a new stake in Limelight Networks during the 2nd quarter worth about $73,000. 75.59% of the stock is owned by institutional investors and hedge funds.
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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