Shares of Internap Corp (NASDAQ:INAP) have received a consensus recommendation of “Buy” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $8.25.
A number of analysts have recently issued reports on the company. ValuEngine raised Internap from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Benchmark set a $8.00 target price on Internap and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Raymond James lowered Internap from a “strong-buy” rating to an “outperform” rating and set a $10.00 target price on the stock. in a research report on Wednesday, September 4th. Finally, Zacks Investment Research raised Internap from a “sell” rating to a “hold” rating in a research report on Wednesday, October 9th.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in Internap in the second quarter worth about $64,000. Jane Street Group LLC acquired a new position in Internap in the second quarter worth about $294,000. Paloma Partners Management Co grew its stake in Internap by 900.3% in the second quarter. Paloma Partners Management Co now owns 105,251 shares of the information technology services provider’s stock worth $317,000 after purchasing an additional 94,729 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Internap by 180.8% in the second quarter. Pacer Advisors Inc. now owns 20,874 shares of the information technology services provider’s stock valued at $63,000 after acquiring an additional 13,439 shares during the period. Finally, Invesco Ltd. boosted its stake in Internap by 51.3% in the second quarter. Invesco Ltd. now owns 426,204 shares of the information technology services provider’s stock valued at $1,283,000 after acquiring an additional 144,457 shares during the period. 65.66% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:INAP opened at $2.11 on Wednesday. The business’s 50-day moving average is $2.33 and its two-hundred day moving average is $2.96. Internap has a 12 month low of $1.84 and a 12 month high of $9.17. The firm has a market capitalization of $57.51 million, a PE ratio of -0.70 and a beta of 3.08.
Internap (NASDAQ:INAP) last released its quarterly earnings data on Tuesday, August 6th. The information technology services provider reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.22). The business had revenue of $73.13 million during the quarter, compared to the consensus estimate of $76.75 million. During the same quarter in the previous year, the business earned ($0.47) earnings per share. Internap’s revenue for the quarter was down 10.8% compared to the same quarter last year. On average, research analysts predict that Internap will post -2.85 EPS for the current fiscal year.
Internap Company Profile
Internap Corp. engages in the provision of information technology infrastructure services. It operates through the following segments: INAP US and INAP INTL. The INAP US segment consists of U. S. Colocation, U. S. Cloud, and U. S. Network services based in the United States. The INAP INTL segment consists of these same services based in countries other than the United States, and Ubersmith.
Receive News & Ratings for Internap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Internap and related companies with MarketBeat.com's FREE daily email newsletter.