Limelight Networks (LLNW) Releases FY19 Earnings Guidance

Limelight Networks (NASDAQ:LLNW) updated its FY19 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.10-0.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.12. The company issued revenue guidance of $215-225 million, compared to the consensus revenue estimate of $212.69 million.Limelight Networks also updated its FY 2019 guidance to $0.10-0.20 EPS.

Shares of LLNW stock traded up $0.02 during mid-day trading on Friday, reaching $3.01. 283,340 shares of the stock traded hands, compared to its average volume of 739,678. Limelight Networks has a 1-year low of $2.21 and a 1-year high of $5.52. The firm has a market capitalization of $346.95 million, a price-to-earnings ratio of -150.50 and a beta of 2.60.

Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings data on Wednesday, April 17th. The information services provider reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.03). Limelight Networks had a negative return on equity of 8.25% and a net margin of 0.61%. The company had revenue of $43.28 million during the quarter, compared to analyst estimates of $44.87 million. During the same period in the prior year, the firm earned $0.06 earnings per share. Limelight Networks’s revenue was down 17.0% compared to the same quarter last year. As a group, analysts forecast that Limelight Networks will post -0.03 EPS for the current year.

Several equities research analysts have recently commented on LLNW shares. Raymond James upgraded Limelight Networks from an underperform rating to a market perform rating in a report on Tuesday, January 29th. BidaskClub raised Limelight Networks from a strong sell rating to a sell rating in a research report on Wednesday, January 30th. Finally, Zacks Investment Research cut Limelight Networks from a hold rating to a strong sell rating in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Limelight Networks has an average rating of Hold and a consensus target price of $6.31.

An institutional investor recently raised its position in Limelight Networks stock. Geode Capital Management LLC boosted its holdings in Limelight Networks, Inc. (NASDAQ:LLNW) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,255,100 shares of the information services provider’s stock after acquiring an additional 67,107 shares during the quarter. Geode Capital Management LLC owned 1.10% of Limelight Networks worth $2,936,000 at the end of the most recent reporting period. 73.95% of the stock is currently owned by institutional investors.

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Limelight Networks Company Profile

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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Earnings History and Estimates for Limelight Networks (NASDAQ:LLNW)

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