A correction may be in store for Edgio Inc. (NASDAQ:EGIO) shares?

In the latest session, Edgio Inc. (NASDAQ: EGIO) closed at $1.38 up 2.22% from its previous closing price of $1.35. In other words, the price has increased by $+0.0300 from its previous closing price. On the day, 1039674 shares were traded. EGIO stock price reached its highest trading level at $1.4200 during the session, while it also had its lowest trading level at $1.3201.

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Ratios:

For a deeper understanding of Edgio Inc.’s stock, let’s take a closer look at its various ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.60 and its Current Ratio is at 1.60. In the meantime, Its Debt-to-Equity ratio is 0.41 whereas as Long-Term Debt/Eq ratio is at 0.41.

Upgrades & Downgrades

On November 10, 2022, Cowen Downgraded its rating to Market Perform which previously was Outperform and also lowered its target price recommendation from $5.75 to $2.50.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 0.95 while its Price-to-Book (P/B) ratio in mrq is 1.03.

Stock Price History:

Over the past 52 weeks, EGIO has reached a high of $5.55, while it has fallen to a 52-week low of $0.79. The 50-Day Moving Average of the stock is 1.3246, while the 200-Day Moving Average is calculated to be 2.6839.

Shares Statistics:

For the past three months, EGIO has traded an average of 1.24M shares per day and 932.85k over the past ten days. A total of 220.19M shares are outstanding, with a floating share count of 218.11M. Insiders hold about 4.00% of the company’s shares, while institutions hold 72.90% stake in the company. Shares short for EGIO as of Oct 13, 2022 were 3.54M with a Short Ratio of 3.51M, compared to 3.55M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 1.61% and a Short% of Float of 1.63%.

Earnings Estimates

There are 8 different market analysts currently analyzing its stock. On average, analysts expect EPS of -$0.05 for the current quarter, with a high estimate of -$0.01 and a low estimate of -$0.09, while EPS last year was -$0.01. The consensus estimate for the next quarter is -$0.01, with high estimates of $0.02 and low estimates of -$0.06.

Analysts are recommending an EPS of between $0.08 and -$0.11 for the fiscal current year, implying an average EPS of -$0.02. EPS for the following year is $0.06, with 8 analysts recommending between $0.21 and -$0.11.

Revenue Estimates

A total of 8 analysts believe the company’s revenue will be $121.69M this quarter.It ranges from a high estimate of $124.1M to a low estimate of $120.01M. As of the current estimate, Edgio Inc.’s year-ago sales were $55.2M, an estimated increase of 120.40% from the year-ago figure. For the next quarter, 8 analysts are estimating revenue of $130.66M, an increase of 107.80% less than the figure of $120.40% in the same quarter last year. There is a high estimate of $134.26M for the next quarter, whereas the lowest estimate is $127.8M.

A total of 8 analysts have provided revenue estimates for EGIO’s current fiscal year. The highest revenue estimate was $386.54M, while the lowest revenue estimate was $382.3M, resulting in an average revenue estimate of $384.63M. In the same quarter a year ago, actual revenue was $217.63M, up 76.70% from the average estimate. Based on 8 analysts’ estimates, the company’s revenue will be $554.07M in the next fiscal year. The high estimate is $559.6M and the low estimate is $551.7M. The average revenue growth estimate for next year is up 44.10% from the average revenue estimate for this year.