Equities analysts expect Internap Corp (NASDAQ:INAP) to report $68.42 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Internap’s earnings, with the highest sales estimate coming in at $68.80 million and the lowest estimate coming in at $68.20 million. Internap posted sales of $74.12 million in the same quarter last year, which suggests a negative year-over-year growth rate of 7.7%. The business is scheduled to report its next quarterly earnings results on Thursday, March 8th.
According to Zacks, analysts expect that Internap will report full-year sales of $68.42 million for the current year, with estimates ranging from $278.90 million to $279.50 million. For the next year, analysts forecast that the business will post sales of $275.78 million per share, with estimates ranging from $272.40 million to $281.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Internap.
Internap (NASDAQ:INAP) last released its earnings results on Thursday, November 2nd. The information technology services provider reported ($0.56) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.16). Internap had a negative return on equity of 282.42% and a negative net margin of 18.09%. The business had revenue of $68.91 million for the quarter, compared to analysts’ expectations of $69.10 million. During the same quarter last year, the company posted ($7.00) earnings per share. The business’s quarterly revenue was down 6.8% compared to the same quarter last year.
INAP has been the topic of several recent analyst reports. BidaskClub downgraded Internap from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. ValuEngine downgraded Internap from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Zacks Investment Research downgraded Internap from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Finally, Benchmark reiterated a “buy” rating and set a $28.00 target price on shares of Internap in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $24.25.
Internap (NASDAQ INAP) traded down $1.25 during midday trading on Wednesday, reaching $13.65. The company had a trading volume of 496,116 shares, compared to its average volume of 177,205. Internap has a 1 year low of $6.48 and a 1 year high of $22.36. The stock has a market capitalization of $310.60, a P/E ratio of -4.49 and a beta of 1.85. The company has a debt-to-equity ratio of 107.36, a current ratio of 0.69 and a quick ratio of 0.69.
Several institutional investors have recently added to or reduced their stakes in INAP. Emerald Advisers Inc. PA purchased a new position in shares of Internap in the 3rd quarter worth about $8,100,000. Emerald Mutual Fund Advisers Trust raised its holdings in shares of Internap by 185.8% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,957,710 shares of the information technology services provider’s stock worth $8,516,000 after purchasing an additional 1,272,692 shares during the period. State Street Corp raised its holdings in shares of Internap by 2,861.4% in the 2nd quarter. State Street Corp now owns 1,224,423 shares of the information technology services provider’s stock worth $4,493,000 after purchasing an additional 1,183,077 shares during the period. Northern Trust Corp raised its holdings in shares of Internap by 488.3% in the 2nd quarter. Northern Trust Corp now owns 913,121 shares of the information technology services provider’s stock worth $3,351,000 after purchasing an additional 757,898 shares during the period. Finally, EAM Investors LLC raised its holdings in shares of Internap by 182.9% during the 3rd quarter. EAM Investors LLC now owns 1,161,840 shares of the information technology services provider’s stock valued at $5,054,000 after buying an additional 751,131 shares during the period.
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Internap Company Profile
Internap Corporation is a technology provider of Internet infrastructure. The Company provides Internet infrastructure through both Colocation Business and Enterprise Services and Cloud Services. The Company operates through two segments: Data Center and Network Services, and Cloud and Hosting Services.
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