Limelight Networks, Inc. (NASDAQ:LLNW) Releases Earnings Results, Beats Expectations By $0.02 EPS

Limelight Networks, Inc. (NASDAQ:LLNW) posted its quarterly earnings results on Wednesday, July 26th. The information services provider reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02, Bloomberg Earnings reports. Limelight Networks had a negative net margin of 8.65% and a negative return on equity of 5.03%. The firm had revenue of $45.37 million for the quarter, compared to analyst estimates of $45.25 million. During the same quarter last year, the firm posted $0.01 earnings per share. Limelight Networks’s revenue for the quarter was up 4.2% compared to the same quarter last year. Limelight Networks updated its FY17 guidance to $0.05-0.07 EPS.

Limelight Networks (NASDAQ:LLNW) traded up 2.31% during mid-day trading on Friday, hitting $3.54. 470,121 shares of the stock were exchanged. The company has a 50-day moving average price of $3.08 and a 200-day moving average price of $2.73. Limelight Networks has a one year low of $1.45 and a one year high of $3.59. The company’s market cap is $386.74 million.

LLNW has been the subject of several recent research reports. BidaskClub raised shares of Limelight Networks from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. TheStreet raised shares of Limelight Networks from a “d+” rating to a “c” rating in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a research report on Friday, April 28th. Cowen and Company increased their price objective on shares of Limelight Networks from $3.00 to $3.50 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Finally, B. Riley reaffirmed a “buy” rating and issued a $4.30 price objective on shares of Limelight Networks in a research report on Tuesday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $3.45.

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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.