Shares of Internap Corp (NASDAQ:INAP) have been assigned an average rating of “Hold” from the nine analysts that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $9.92.
Several research firms have weighed in on INAP. Zacks Investment Research raised Internap from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. ValuEngine raised Internap from a “sell” rating to a “hold” rating in a research report on Friday, March 29th. Raymond James dropped their price target on Internap from $22.00 to $15.00 and set a “strong-buy” rating for the company in a research report on Friday, March 15th. Wells Fargo & Co raised Internap from a “market perform” rating to an “outperform” rating and set a $8.00 price objective for the company in a research report on Thursday, March 21st. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Internap in a research report on Friday, May 10th.
Several large investors have recently made changes to their positions in the company. Gamco Investors INC. ET AL grew its position in shares of Internap by 13.8% in the first quarter. Gamco Investors INC. ET AL now owns 3,401,579 shares of the information technology services provider’s stock valued at $16,872,000 after purchasing an additional 412,683 shares during the period. Gabelli Funds LLC boosted its holdings in Internap by 7.0% in the first quarter. Gabelli Funds LLC now owns 3,119,564 shares of the information technology services provider’s stock valued at $15,473,000 after acquiring an additional 204,151 shares during the last quarter. BlackRock Inc. boosted its holdings in Internap by 16.0% in the fourth quarter. BlackRock Inc. now owns 1,461,314 shares of the information technology services provider’s stock valued at $6,064,000 after acquiring an additional 201,086 shares during the last quarter. Avenir Corp boosted its holdings in Internap by 19.7% in the fourth quarter. Avenir Corp now owns 1,305,017 shares of the information technology services provider’s stock valued at $5,416,000 after acquiring an additional 214,473 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Internap by 7.3% in the third quarter. Vanguard Group Inc. now owns 901,179 shares of the information technology services provider’s stock valued at $11,382,000 after acquiring an additional 61,428 shares during the last quarter. 71.92% of the stock is owned by institutional investors and hedge funds.
Shares of INAP traded up $0.06 during mid-day trading on Thursday, hitting $3.07. The company’s stock had a trading volume of 4,866 shares, compared to its average volume of 367,451. The company has a debt-to-equity ratio of 11,888.77, a current ratio of 0.77 and a quick ratio of 0.77. The business has a 50-day moving average of $2.91. The stock has a market capitalization of $80.20 million, a price-to-earnings ratio of -1.02 and a beta of 2.87. Internap has a 1-year low of $2.29 and a 1-year high of $15.31.
Internap (NASDAQ:INAP) last issued its quarterly earnings data on Thursday, May 9th. The information technology services provider reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.26). The company had revenue of $73.60 million during the quarter, compared to analysts’ expectations of $77.03 million. The business’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.70) earnings per share. Sell-side analysts anticipate that Internap will post -2.11 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.
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