Brokerages Set Limelight Networks, Inc. (NASDAQ:LLNW) Target Price at $5.38

Shares of Limelight Networks, Inc. (NASDAQ:LLNW) have been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $4.65.

A number of research firms have recently issued reports on LLNW. The Goldman Sachs Group lowered Limelight Networks from a “neutral” rating to a “sell” rating and lowered their target price for the company from $3.00 to $2.50 in a research note on Tuesday, July 6th. DA Davidson reiterated an “underperform” rating on shares of Limelight Networks in a research note on Friday, July 9th. Finally, Zacks Investment Research lowered Limelight Networks from a “hold” rating to a “sell” rating in a research note on Thursday, July 8th.

In other Limelight Networks news, Director David Peterschmidt sold 17,655 shares of the firm’s stock in a transaction that occurred on Friday, June 4th. The stock was sold at an average price of $3.13, for a total transaction of $55,260.15. Following the completion of the sale, the director now owns 48,256 shares in the company, valued at approximately $151,041.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 10.40% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System grew its stake in Limelight Networks by 2.0% during the 1st quarter. California State Teachers Retirement System now owns 182,801 shares of the information services provider’s stock valued at $653,000 after purchasing an additional 3,604 shares in the last quarter. Walleye Trading LLC acquired a new stake in Limelight Networks during the 1st quarter valued at approximately $53,000. Walleye Capital LLC acquired a new stake in Limelight Networks during the 1st quarter valued at approximately $104,000. Corient Capital Partners LLC acquired a new stake in Limelight Networks during the 1st quarter valued at approximately $37,000. Finally, MML Investors Services LLC acquired a new stake in Limelight Networks during the 1st quarter valued at approximately $235,000. Hedge funds and other institutional investors own 53.40% of the company’s stock.

Shares of NASDAQ:LLNW opened at $2.72 on Monday. The firm has a market capitalization of $341.88 million, a price-to-earnings ratio of -8.50 and a beta of 0.51. The company has a debt-to-equity ratio of 0.87, a current ratio of 5.24 and a quick ratio of 5.24. The stock’s 50-day moving average price is $3.06. Limelight Networks has a 12 month low of $2.56 and a 12 month high of $7.15.

Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings results on Thursday, April 29th. The information services provider reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.04). The firm had revenue of $51.20 million for the quarter, compared to analyst estimates of $54.50 million. Limelight Networks had a negative return on equity of 15.53% and a negative net margin of 17.63%. As a group, research analysts predict that Limelight Networks will post -0.22 EPS for the current year.

Limelight Networks Company Profile

Limelight Networks, Inc provides content delivery and related services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates private networks that deliver Websites, mobile applications, videos, music, software, games, and APIs; offers live and on-demand video delivery services; and provides online video platforms that help organizations manage, publish, syndicate, analyze, and monetize video contents.

See Also: How are capital gains distributions different for tax-deferred account?

Analyst Recommendations for Limelight Networks (NASDAQ:LLNW)

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.