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

Wall Street analysts predict that Limelight Networks, Inc. (NASDAQ:LLNW) will post sales of $56.83 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Limelight Networks’ earnings, with the highest sales estimate coming in at $61.02 million and the lowest estimate coming in at $54.60 million. Limelight Networks posted sales of $59.24 million during the same quarter last year, which suggests a negative year over year growth rate of 4.1%. The firm is scheduled to announce its next quarterly earnings report on Thursday, October 28th.

According to Zacks, analysts expect that Limelight Networks will report full year sales of $219.45 million for the current year, with estimates ranging from $218.00 million to $220.30 million. For the next year, analysts expect that the firm will post 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 sell-side research firms 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. Limelight Networks had a negative net margin of 24.06% and a negative return on equity of 22.68%. The company had revenue of $48.35 million for the quarter, compared to analyst estimates of $53.24 million.

LLNW has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of Limelight Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, September 22nd. Raymond James initiated coverage on shares of Limelight Networks in a research note on Monday, August 9th. They issued a “market perform” rating on the stock. DA Davidson upgraded shares of Limelight Networks from an “underperform” rating to a “neutral” rating in a research note on Friday, July 30th. The Goldman Sachs Group decreased their price target on shares of Limelight Networks from $2.50 to $2.25 and set a “sell” rating on the stock in a research note on Tuesday, August 3rd. Finally, Lake Street Capital reduced their target price on shares of Limelight Networks from $5.50 to $4.50 and set a “buy” rating on the stock in a research note on Friday, July 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.61.

Institutional investors have recently bought and sold shares of the business. Cooper Creek Partners Management LLC bought a new position in Limelight Networks in the first quarter valued at about $2,934,000. Gabelli Funds LLC bought a new position in Limelight Networks in the first quarter valued at about $250,000. NewEdge Wealth LLC bought a new position in Limelight Networks in the first quarter valued at about $62,000. Cedar Brook Financial Partners LLC raised its position in Limelight Networks by 89.8% in the first quarter. Cedar Brook Financial Partners LLC now owns 24,000 shares of the information services provider’s stock valued at $86,000 after purchasing an additional 11,357 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Limelight Networks by 2,006.2% in the second quarter. Russell Investments Group Ltd. now owns 229,469 shares of the information services provider’s stock valued at $722,000 after purchasing an additional 218,574 shares during the last quarter. Hedge funds and other institutional investors own 55.20% of the company’s stock.

Shares of NASDAQ:LLNW traded up $0.06 during trading on Wednesday, reaching $2.51. The stock had a trading volume of 21,701 shares, compared to its average volume of 2,956,570. Limelight Networks has a 52 week low of $2.38 and a 52 week high of $7.04. The firm has a market capitalization of $318.03 million, a price-to-earnings ratio of -5.83 and a beta of 0.48. The company has a quick ratio of 4.93, a current ratio of 4.93 and a debt-to-equity ratio of 0.93. The stock has a fifty day simple moving average of $2.61 and a two-hundred day simple moving average of $3.04.

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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