Limelight Networks, Inc. (NASDAQ:LLNW) Receives “Outperform” Rating from Cowen and Company

Limelight Networks, Inc. (NASDAQ:LLNW)‘s stock had its “outperform” rating restated by stock analysts at Cowen and Company in a report issued on Thursday, October 19th, The Fly reports. They presently have a $6.00 price objective on the information services provider’s stock, up from their prior price objective of $4.00. Cowen and Company’s price objective points to a potential upside of 8.70% from the stock’s previous close.

A number of other equities research analysts have also recently commented on LLNW. BidaskClub raised shares of Limelight Networks from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. B. Riley restated a “buy” rating and issued a $4.30 target price on shares of Limelight Networks in a report on Thursday, July 27th. TheStreet upgraded shares of Limelight Networks from a “d+” rating to a “c” rating in a report on Thursday, July 27th. Zacks Investment Research upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a report on Thursday, September 28th. Finally, DA Davidson set a $5.50 target price on shares of Limelight Networks and gave the company a “buy” rating in a report on Monday, October 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $5.00.

Limelight Networks (LLNW) traded up $0.07 during trading hours on Thursday, hitting $5.52. 1,110,078 shares of the stock were exchanged, compared to its average volume of 717,980. Limelight Networks has a fifty-two week low of $1.75 and a fifty-two week high of $5.62.

Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings data on Wednesday, October 18th. The information services provider reported $0.02 EPS for the quarter. The firm had revenue of $46.07 million for the quarter, compared to analysts’ expectations of $43.09 million. Limelight Networks had a negative net margin of 5.91% and a negative return on equity of 3.29%. Limelight Networks’s revenue was up 16.7% on a year-over-year basis. research analysts predict that Limelight Networks will post -0.04 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in Limelight Networks by 3.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 289,101 shares of the information services provider’s stock worth $1,148,000 after purchasing an additional 10,368 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Limelight Networks by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 66,823 shares of the information services provider’s stock valued at $193,000 after acquiring an additional 3,090 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Limelight Networks in the second quarter valued at approximately $220,000. State Street Corp grew its position in Limelight Networks by 10.4% in the second quarter. State Street Corp now owns 1,263,427 shares of the information services provider’s stock valued at $3,650,000 after acquiring an additional 118,836 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. grew its position in Limelight Networks by 19.7% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 147,760 shares of the information services provider’s stock valued at $426,000 after acquiring an additional 24,300 shares in the last quarter. 68.72% of the stock is owned by hedge funds and other institutional investors.

Limelight Networks Company Profile

Limelight Networks, Inc operates a distributed network and provides a suite of integrated services marketed as the Limelight Orchestrate Platform. The Company is engaged in providing content delivery and related services and solutions for global businesses to help them deliver their digital content across Internet, mobile, and social channels.

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