Limelight Networks (NASDAQ:LLNW) Issues FY 2021 Earnings Guidance

Limelight Networks (NASDAQ:LLNW) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided EPS guidance of $-0.170-$-0.120 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.120. The company issued revenue guidance of $215 million-$220 million, compared to the consensus revenue estimate of $216.26 million.

NASDAQ LLNW traded up $0.04 during midday trading on Thursday, hitting $2.97. 722,008 shares of the company traded hands, compared to its average volume of 2,636,328. The company has a debt-to-equity ratio of 0.86, a current ratio of 3.22 and a quick ratio of 3.22. The company has a market cap of $397.42 million, a PE ratio of -6.32 and a beta of 0.62. The company’s 50-day simple moving average is $2.75 and its 200-day simple moving average is $2.83. Limelight Networks has a 52 week low of $2.30 and a 52 week high of $5.61.

Limelight Networks (NASDAQ:LLNW) last announced its earnings results on Thursday, November 4th. The information services provider reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). The company had revenue of $55.20 million for the quarter, compared to the consensus estimate of $54.39 million. Limelight Networks had a negative net margin of 27.43% and a negative return on equity of 25.74%. The firm’s revenue was down 6.8% compared to the same quarter last year. During the same period last year, the business posted ($0.03) EPS. On average, research analysts predict that Limelight Networks will post -0.28 earnings per share for the current year.

Several analysts have recently commented on LLNW shares. Zacks Investment Research lowered Limelight Networks from a hold rating to a sell rating in a report on Wednesday, September 22nd. The Goldman Sachs Group decreased their price objective on Limelight Networks from $2.50 to $2.25 and set a sell rating for the company in a report on Tuesday, August 3rd. Raymond James started coverage on Limelight Networks in a report on Monday, August 9th. They set a market perform rating for the company. DA Davidson upgraded Limelight Networks from an underperform rating to a neutral rating in a report on Friday, July 30th. Finally, Lake Street Capital decreased their price objective on Limelight Networks from $5.50 to $4.50 and set a buy rating for the company in a report on Friday, July 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $3.88.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Morgan Stanley grew its position in Limelight Networks by 2.2% during the 2nd quarter. Morgan Stanley now owns 967,806 shares of the information services provider’s stock worth $3,048,000 after purchasing an additional 20,728 shares during the period. Bank of New York Mellon Corp grew its position in Limelight Networks by 7.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 529,077 shares of the information services provider’s stock worth $1,260,000 after purchasing an additional 34,759 shares during the period. Invesco Ltd. grew its position in Limelight Networks by 6.9% during the 3rd quarter. Invesco Ltd. now owns 145,759 shares of the information services provider’s stock worth $347,000 after purchasing an additional 9,452 shares during the period. Cubist Systematic Strategies LLC grew its position in Limelight Networks by 65.7% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 106,847 shares of the information services provider’s stock worth $254,000 after purchasing an additional 42,361 shares during the period. Finally, Millennium Management LLC grew its position in shares of Limelight Networks by 145.2% during the 3rd quarter. Millennium Management LLC now owns 54,275 shares of the information services provider’s stock valued at $129,000 after acquiring an additional 32,141 shares during the period. 53.04% of the stock is currently owned by institutional investors.

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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