Edgio (NASDAQ:EGIO) Announces Quarterly Earnings Results

Edgio (NASDAQ:EGIOGet Free Report) issued its quarterly earnings results on Wednesday. The company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07), MarketWatch Earnings reports. Edgio had a negative net margin of 35.10% and a negative return on equity of 42.85%. The company had revenue of $97.04 million during the quarter, compared to analyst estimates of $96.44 million.

Edgio Stock Down 4.9 %

Shares of NASDAQ EGIO traded down $0.03 during mid-day trading on Friday, reaching $0.56. 815,671 shares of the company traded hands, compared to its average volume of 985,578. The company’s fifty day moving average is $0.80 and its two-hundred day moving average is $0.71. Edgio has a fifty-two week low of $0.45 and a fifty-two week high of $1.79. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $126.00 million, a PE ratio of -0.91 and a beta of 0.94.

Analyst Ratings Changes

Several brokerages recently weighed in on EGIO. Lake Street Capital decreased their target price on Edgio from $2.00 to $1.50 and set a “buy” rating for the company in a research note on Thursday, July 20th. DA Davidson reaffirmed a “neutral” rating and set a $0.75 target price on shares of Edgio in a research report on Wednesday, August 16th.

Read Our Latest Analysis on EGIO

Hedge Funds Weigh In On Edgio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EGIO. Price T Rowe Associates Inc. MD bought a new stake in shares of Edgio during the 4th quarter worth $26,000. Schonfeld Strategic Advisors LLC bought a new stake in Edgio during the second quarter valued at about $27,000. MetLife Investment Management LLC acquired a new stake in shares of Edgio in the fourth quarter valued at about $28,000. Savant Capital LLC bought a new position in shares of Edgio in the fourth quarter worth about $31,000. Finally, Algert Global LLC acquired a new stake in Edgio in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 23.16% of the company’s stock.

Edgio Company Profile

(Get Free Report)

Edgio, Inc provides edge-enabled software solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates private global networks with distributed computing resources and extensive connectivity to last-mile broadband network providers; offers live and on-demand video delivery services; and provides platform, media, and application solutions.

Read More

Earnings History for Edgio (NASDAQ:EGIO)

Receive News & Ratings for Edgio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edgio and related companies with MarketBeat.com's FREE daily email newsletter.