Zacks: Analysts Expect Limelight Networks, Inc. (LLNW) Will Post Earnings of -$0.01 Per Share

Analysts forecast that Limelight Networks, Inc. (NASDAQ:LLNW) will report earnings per share (EPS) of ($0.01) for the current quarter, Zacks reports. Three analysts have issued estimates for Limelight Networks’ earnings, with estimates ranging from ($0.02) to ($0.01). Limelight Networks reported earnings per share of ($0.02) in the same quarter last year, which would suggest a positive year-over-year growth rate of 50%. The company is scheduled to issue its next earnings results on Wednesday, July 26th.

On average, analysts expect that Limelight Networks will report full year earnings of ($0.05) per share for the current year, with EPS estimates ranging from ($0.06) to ($0.04). For the next financial year, analysts forecast that the company will report earnings of ($0.01) per share, with EPS estimates ranging from ($0.02) to $0.01. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Limelight Networks.

Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings results on Monday, April 24th. The information services provider reported $0.02 EPS for the quarter. The business had revenue of $44.70 million for the quarter, compared to analyst estimates of $43.01 million. Limelight Networks had a negative net margin of 39.80% and a negative return on equity of 6.69%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.01) earnings per share.

Several research analysts recently issued reports on the company. B. Riley reissued a “buy” rating and issued a $3.70 price objective on shares of Limelight Networks in a research note on Friday, March 31st. Cowen and Company reissued a “buy” rating and issued a $3.00 price objective on shares of Limelight Networks in a research note on Wednesday, April 5th. Zacks Investment Research raised Limelight Networks from a “sell” rating to a “hold” rating in a research note on Tuesday, February 14th. Finally, DA Davidson reissued a “buy” rating on shares of Limelight Networks in a research note on Monday, April 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $3.38.

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Limelight Networks by 5.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,821,332 shares of the information services provider’s stock valued at $9,859,000 after buying an additional 211,905 shares during the period. Cortina Asset Management LLC boosted its stake in shares of Limelight Networks by 25.0% in the first quarter. Cortina Asset Management LLC now owns 3,550,985 shares of the information services provider’s stock valued at $9,162,000 after buying an additional 710,677 shares during the period. Vanguard Group Inc. boosted its stake in shares of Limelight Networks by 24.0% in the first quarter. Vanguard Group Inc. now owns 3,307,238 shares of the information services provider’s stock valued at $8,533,000 after buying an additional 639,265 shares during the period. Hood River Capital Management LLC bought a new stake in shares of Limelight Networks during the first quarter valued at about $6,907,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Limelight Networks by 1.1% in the first quarter. Renaissance Technologies LLC now owns 2,378,186 shares of the information services provider’s stock valued at $6,136,000 after buying an additional 25,100 shares during the period. 68.93% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Limelight Networks (NASDAQ:LLNW) opened at 2.91 on Tuesday. Limelight Networks has a 52-week low of $1.29 and a 52-week high of $3.51. The firm’s market capitalization is $314.22 million. The stock has a 50 day moving average of $3.08 and a 200 day moving average of $2.55.

About Limelight Networks

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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