Internap Corp (INAP) Receives $20.50 Average PT from Analysts

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Shares of Internap Corp (NASDAQ:INAP) have been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $21.00.

A number of research firms have commented on INAP. SunTrust Banks began coverage on shares of Internap in a research report on Tuesday. They issued a “buy” rating and a $22.00 price target on the stock. BidaskClub lowered shares of Internap from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Stifel Nicolaus set a $13.00 price target on shares of Internap and gave the company a “hold” rating in a research report on Friday, August 3rd. ValuEngine upgraded shares of Internap from a “strong sell” rating to a “sell” rating in a research report on Friday, August 3rd. Finally, Zacks Investment Research upgraded shares of Internap from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th.

A number of large investors have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. boosted its position in Internap by 32.4% in the first quarter. Asset Management One Co. Ltd. now owns 20,331 shares of the information technology services provider’s stock valued at $224,000 after buying an additional 4,971 shares in the last quarter. Monarch Partners Asset Management LLC lifted its position in shares of Internap by 14.3% during the second quarter. Monarch Partners Asset Management LLC now owns 46,665 shares of the information technology services provider’s stock worth $486,000 after purchasing an additional 5,850 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Internap by 5.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 147,573 shares of the information technology services provider’s stock worth $1,624,000 after purchasing an additional 7,866 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in shares of Internap by 11.3% during the second quarter. Pinnacle Associates Ltd. now owns 78,887 shares of the information technology services provider’s stock worth $822,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Internap by 31.5% during the second quarter. Bank of America Corp DE now owns 36,981 shares of the information technology services provider’s stock worth $385,000 after purchasing an additional 8,857 shares in the last quarter. Hedge funds and other institutional investors own 83.91% of the company’s stock.

NASDAQ INAP opened at $13.73 on Tuesday. Internap has a twelve month low of $8.88 and a twelve month high of $22.36. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of -126.72.

Internap (NASDAQ:INAP) last posted its earnings results on Thursday, August 2nd. The information technology services provider reported ($0.47) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.69) by $0.22. The business had revenue of $81.96 million for the quarter, compared to analysts’ expectations of $81.76 million. Internap had a negative net margin of 15.52% and a negative return on equity of 2,471.65%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. equities research analysts anticipate that Internap will post -2.26 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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