Limelight Networks (NASDAQ:LLNW) Price Target Raised to $8.50
Limelight Networks (NASDAQ:LLNW) had its price target upped by Raymond James from $6.00 to $8.50 in a report issued on Friday, The Fly reports. Raymond James currently has an outperform rating on the information services provider’s stock.
A number of other research analysts have also issued reports on LLNW. B. Riley raised their price objective on shares of Limelight Networks from $6.50 to $7.50 and gave the company a buy rating in a report on Tuesday, April 21st. Oppenheimer reiterated a buy rating and issued a $7.00 price objective on shares of Limelight Networks in a report on Thursday, April 23rd. Zacks Investment Research upgraded shares of Limelight Networks from a hold rating to a buy rating and set a $7.25 price objective for the company in a report on Thursday, June 25th. ValuEngine lowered shares of Limelight Networks from a buy rating to a hold rating in a report on Wednesday, June 3rd. Finally, Northland Securities assumed coverage on shares of Limelight Networks in a report on Friday, June 19th. They set a buy rating and a $8.00 price target for the company. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $7.19.
LLNW opened at $7.41 on Friday. The company’s 50 day moving average is $5.38 and its 200-day moving average is $5.09. Limelight Networks has a 1-year low of $2.20 and a 1-year high of $7.99. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.08. The company has a market cap of $881.89 million, a P/E ratio of -74.10 and a beta of 0.98.
In other news, Director David Peterschmidt sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $7.03, for a total transaction of $140,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sajid Malhotra sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $4.98, for a total transaction of $249,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 509,495 shares of company stock valued at $2,955,983. Company insiders own 11.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. State Street Corp grew its position in shares of Limelight Networks by 5.1% during the 1st quarter. State Street Corp now owns 2,393,973 shares of the information services provider’s stock worth $13,646,000 after buying an additional 115,212 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of Limelight Networks during the 1st quarter worth approximately $359,000. Advisor Group Holdings Inc. acquired a new stake in shares of Limelight Networks during the 1st quarter worth approximately $43,000. Paloma Partners Management Co acquired a new stake in shares of Limelight Networks during the 1st quarter worth approximately $68,000. Finally, Jane Street Group LLC acquired a new stake in shares of Limelight Networks during the 1st quarter worth approximately $121,000. 80.32% of the stock is owned by institutional investors.
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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