Limelight Networks (NASDAQ:LLNW) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Limelight Networks (NASDAQ:LLNW) from a hold rating to a buy rating in a report released on Thursday morning, ValuEngine reports.

Other research analysts also recently issued research reports about the company. DA Davidson reissued a neutral rating and issued a $2.70 target price on shares of Limelight Networks in a report on Tuesday, July 2nd. BidaskClub raised Limelight Networks from a strong sell rating to a sell rating in a research report on Saturday, July 27th. B. Riley reaffirmed a buy rating and set a $5.00 target price on shares of Limelight Networks in a research report on Monday, July 15th. Finally, Zacks Investment Research lowered Limelight Networks from a hold rating to a sell rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Limelight Networks currently has a consensus rating of Hold and a consensus target price of $4.57.

Shares of LLNW stock traded down $0.12 on Thursday, hitting $2.57. The company’s stock had a trading volume of 514,898 shares, compared to its average volume of 1,065,906. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. The business has a 50 day simple moving average of $2.61. Limelight Networks has a fifty-two week low of $2.20 and a fifty-two week high of $5.32. The company has a market cap of $312.58 million, a P/E ratio of -128.50 and a beta of 2.03.

Limelight Networks (NASDAQ:LLNW) last released its earnings results on Wednesday, July 17th. The information services provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Limelight Networks had a negative net margin of 11.63% and a negative return on equity of 13.07%. The firm had revenue of $45.90 million for the quarter, compared to analyst estimates of $46.40 million. During the same period in the prior year, the company posted $0.04 EPS. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Limelight Networks will post -0.13 earnings per share for the current year.

In other news, SVP Thomas Marth acquired 21,550 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was bought at an average cost of $2.32 per share, for a total transaction of $49,996.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sajid Malhotra acquired 20,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were purchased at an average price of $2.28 per share, with a total value of $45,600.00. The disclosure for this purchase can be found here. 10.40% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the business. Meitav Dash Investments Ltd. purchased a new position in Limelight Networks in the first quarter valued at $44,000. Amalgamated Bank purchased a new stake in Limelight Networks in the 4th quarter worth approximately $38,000. Jane Street Group LLC purchased a new stake in Limelight Networks in the 4th quarter worth approximately $41,000. Cibc Bank USA purchased a new stake in Limelight Networks in the 2nd quarter worth approximately $54,000. Finally, Legal & General Group Plc grew its stake in Limelight Networks by 25.1% in the 4th quarter. Legal & General Group Plc now owns 20,034 shares of the information services provider’s stock worth $46,000 after acquiring an additional 4,014 shares during the period. Institutional investors own 71.94% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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