$56.83 Million in Sales Expected for Limelight Networks, Inc. (NASDAQ:LLNW) This Quarter

Wall Street brokerages expect that Limelight Networks, Inc. (NASDAQ:LLNW) will report $56.83 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Limelight Networks’ earnings. The lowest sales estimate is $54.60 million and the highest is $61.02 million. Limelight Networks reported sales of $59.24 million during the same quarter last year, which indicates a negative year over year growth rate of 4.1%. The business is expected to announce its next earnings report on Thursday, October 28th.

On average, analysts expect that Limelight Networks will report full year sales of $219.45 million for the current fiscal year, with estimates ranging from $218.00 million to $220.30 million. For the next financial year, analysts forecast that the business will report sales of $245.28 million, with estimates ranging from $236.02 million to $255.00 million. Zacks’ sales averages are an average based on a survey of research analysts that follow Limelight Networks.

Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings results on Thursday, July 29th. The information services provider reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.01. The company had revenue of $48.35 million for the quarter, compared to analyst estimates of $53.24 million. Limelight Networks had a negative net margin of 24.06% and a negative return on equity of 22.68%.

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group lowered their price target on Limelight Networks from $2.50 to $2.25 and set a “sell” rating on the stock in a research report on Tuesday, August 3rd. DA Davidson raised Limelight Networks from an “underperform” rating to a “neutral” rating in a research report on Friday, July 30th. Lake Street Capital reduced their price objective on Limelight Networks from $5.50 to $4.50 and set a “buy” rating for the company in a research report on Friday, July 30th. Raymond James began coverage on shares of Limelight Networks in a research note on Monday, August 9th. They set a “market perform” rating for the company. Finally, Zacks Investment Research lowered shares of Limelight Networks from a “hold” rating to a “sell” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $4.61.

NASDAQ:LLNW opened at $2.45 on Wednesday. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.93. Limelight Networks has a 1 year low of $2.38 and a 1 year high of $7.04. The firm’s fifty day simple moving average is $2.61 and its 200 day simple moving average is $3.05. The firm has a market capitalization of $310.43 million, a PE ratio of -5.83 and a beta of 0.48.

Institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System lifted its position in shares of Limelight Networks by 2.0% during the first quarter. California State Teachers Retirement System now owns 182,801 shares of the information services provider’s stock worth $653,000 after purchasing an additional 3,604 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in Limelight Networks by 2.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 157,850 shares of the information services provider’s stock worth $564,000 after buying an additional 4,400 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in Limelight Networks by 20.3% in the 2nd quarter. Advisor Group Holdings Inc. now owns 30,075 shares of the information services provider’s stock valued at $94,000 after buying an additional 5,066 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Limelight Networks by 7.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 77,406 shares of the information services provider’s stock valued at $244,000 after buying an additional 5,493 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC raised its position in shares of Limelight Networks by 4.1% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 164,274 shares of the information services provider’s stock worth $517,000 after acquiring an additional 6,404 shares during the last quarter. Hedge funds and other institutional investors own 55.20% of the company’s stock.

About Limelight Networks

Limelight Networks, Inc engages in the provision of content delivery network services. Its products include digital content and video delivery, cloud security, edge computing, origin storage and support services. The company’s solutions include realtime streaming, file distribution, live video and video on demand.

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