Shares of Internap Corp (NASDAQ:INAP) have received an average recommendation of “Hold” from the six brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $21.00.
Several analysts have weighed in on the company. BidaskClub raised Internap from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. ValuEngine raised Internap from a “strong sell” rating to a “sell” rating in a research note on Friday, August 3rd. Stifel Nicolaus set a $13.00 target price on Internap and gave the company a “hold” rating in a research note on Friday, August 3rd. SunTrust Banks assumed coverage on Internap in a research note on Tuesday, September 18th. They set a “buy” rating and a $22.00 target price on the stock. Finally, Zacks Investment Research raised Internap from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th.
Institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its position in shares of Internap by 31.5% during the 2nd quarter. Bank of America Corp DE now owns 36,981 shares of the information technology services provider’s stock valued at $385,000 after purchasing an additional 8,857 shares during the period. Proxima Capital Management LLC acquired a new position in shares of Internap during the 2nd quarter valued at $3,455,000. Raymond James & Associates increased its position in shares of Internap by 114.7% during the 2nd quarter. Raymond James & Associates now owns 23,794 shares of the information technology services provider’s stock valued at $248,000 after purchasing an additional 12,709 shares during the period. Teton Advisors Inc. increased its position in shares of Internap by 23.9% during the 2nd quarter. Teton Advisors Inc. now owns 440,000 shares of the information technology services provider’s stock valued at $4,585,000 after purchasing an additional 85,000 shares during the period. Finally, Gamco Investors INC. ET AL increased its position in shares of Internap by 3.2% during the 2nd quarter. Gamco Investors INC. ET AL now owns 2,284,165 shares of the information technology services provider’s stock valued at $23,801,000 after purchasing an additional 70,945 shares during the period. 83.90% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ INAP traded down $0.78 during mid-day trading on Friday, hitting $11.03. The company had a trading volume of 8,197 shares, compared to its average volume of 272,715. The company has a market cap of $267.99 million, a price-to-earnings ratio of -7.62 and a beta of 2.26. Internap has a 12 month low of $8.88 and a 12 month high of $20.68. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of -126.72.
Internap (NASDAQ:INAP) last announced its quarterly earnings results on Thursday, August 2nd. The information technology services provider reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.22. The business had revenue of $81.96 million for the quarter, compared to the consensus estimate of $81.76 million. Internap had a negative return on equity of 2,471.65% and a negative net margin of 15.52%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.24) EPS. As a group, equities analysts forecast that Internap will post -2.27 earnings per share for the current fiscal year.
Internap Company Profile
Internap Corporation provides Internet infrastructure services. It operates through two business segments, INAP COLO and INAP CLOUD. The INAP COLO segment offers colocation services, including physical space within data centers and related services, such as power, interconnection, environmental controls, monitoring, and security; and Internet protocol (IP) connectivity services comprising its patented Performance IP and content delivery network services, IP routing hardware and software platforms, and Managed Internet Route Optimizer controllers.
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