Limelight Networks (NASDAQ:LLNW) Stock Rating Lowered by Northland Securities

Northland Securities downgraded shares of Limelight Networks (NASDAQ:LLNW) from an outperform rating to a market perform rating in a research report released on Friday, Analyst Ratings Network reports.

Other analysts have also issued research reports about the company. Oppenheimer upped their target price on Limelight Networks from $7.00 to $9.00 and gave the stock an outperform rating in a research note on Tuesday, July 21st. BidaskClub raised Limelight Networks from a hold rating to a buy rating in a research note on Wednesday, September 23rd. Raymond James upped their target price on Limelight Networks from $6.00 to $8.50 and gave the stock an outperform rating in a research note on Friday, June 26th. Lake Street Capital upped their target price on Limelight Networks from $8.00 to $9.00 and gave the stock a buy rating in a research note on Tuesday, July 21st. Finally, Truist assumed coverage on Limelight Networks in a research note on Friday, September 18th. They issued a buy rating and a $9.00 target price for the company. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Limelight Networks currently has a consensus rating of Buy and a consensus target price of $7.34.

Shares of NASDAQ LLNW opened at $3.89 on Friday. Limelight Networks has a 12 month low of $3.51 and a 12 month high of $8.19. The firm has a market capitalization of $474.86 million, a price-to-earnings ratio of -77.80 and a beta of 0.53. The business has a 50-day moving average of $5.73 and a 200-day moving average of $5.89.

Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings data on Thursday, October 22nd. The information services provider reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.03). Limelight Networks had a negative return on equity of 4.42% and a negative net margin of 3.21%. The business had revenue of $59.24 million for the quarter, compared to analysts’ expectations of $58.94 million. During the same period in the previous year, the firm posted $0.01 EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, analysts anticipate that Limelight Networks will post -0.07 EPS for the current year.

In related news, CEO Robert A. Lento sold 20,833 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $5.75, for a total transaction of $119,789.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Walter Amaral sold 36,406 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $5.75, for a total value of $209,334.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,751 shares of company stock valued at $1,222,727. Insiders own 10.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. American International Group Inc. raised its holdings in shares of Limelight Networks by 3.7% during the second quarter. American International Group Inc. now owns 70,984 shares of the information services provider’s stock valued at $522,000 after acquiring an additional 2,543 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Limelight Networks by 57.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,691 shares of the information services provider’s stock valued at $71,000 after acquiring an additional 3,551 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of Limelight Networks by 40.0% during the second quarter. Schonfeld Strategic Advisors LLC now owns 16,100 shares of the information services provider’s stock valued at $118,000 after acquiring an additional 4,600 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Limelight Networks by 1.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 291,029 shares of the information services provider’s stock worth $2,142,000 after purchasing an additional 5,390 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its holdings in Limelight Networks by 57.1% in the second quarter. Creative Financial Designs Inc. ADV now owns 15,242 shares of the information services provider’s stock worth $112,000 after purchasing an additional 5,542 shares in the last quarter. Institutional investors own 79.10% 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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Analyst Recommendations for Limelight Networks (NASDAQ:LLNW)

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