Internap (NASDAQ:INAP) Rating Increased to Hold at Zacks Investment Research

Internap (NASDAQ:INAP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, January 10th.

According to Zacks, “InterNAP Network Services Corp is a provider of high performance Internet connectivity services targeted at businesses seeking to maximize the performance of mission-critical Internet-based applications. Customers connected to one of their service points have their data optimally routed to and from destinations on the Internet using their overlay network, which analyzes the traffic situation on the multiplicity of networks that comprise the Internet and delivers mission-critical information and communications faster and more reliably. “

Several other equities analysts have also commented on the company. BidaskClub lowered Internap from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. ValuEngine lowered Internap from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Finally, Benchmark restated a “buy” rating and set a $24.00 price target (up previously from $20.00) on shares of Internap in a research note on Monday, September 25th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. Internap has a consensus rating of “Buy” and an average target price of $23.25.

Internap (INAP) traded up $0.26 during trading hours on Wednesday, hitting $15.52. The stock had a trading volume of 151,285 shares, compared to its average volume of 129,167. Internap has a fifty-two week low of $6.28 and a fifty-two week high of $22.36. The company has a market capitalization of $323.74, a P/E ratio of -5.12 and a beta of 1.92. The company has a debt-to-equity ratio of 107.36, a quick ratio of 0.69 and a current ratio of 0.69.

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 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 the consensus estimate of $69.10 million. During the same quarter last year, the business posted ($7.00) earnings per share. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. analysts forecast that Internap will post -2.44 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Gotham Asset Management LLC grew its stake in Internap by 173.1% in the second quarter. Gotham Asset Management LLC now owns 27,952 shares of the information technology services provider’s stock valued at $103,000 after purchasing an additional 17,717 shares during the last quarter. Voya Investment Management LLC purchased a new position in Internap in the second quarter valued at about $133,000. Cornerstone Capital Management Holdings LLC. purchased a new position in Internap in the second quarter valued at about $158,000. Symphony Asset Management LLC purchased a new position in Internap in the second quarter valued at about $159,000. Finally, Nationwide Fund Advisors purchased a new position in Internap in the second quarter valued at about $166,000.

COPYRIGHT VIOLATION NOTICE: This report was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this report on another website, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The original version of this report can be viewed at https://www.dispatchtribunal.com/2018/01/18/internap-inap-upgraded-by-zacks-investment-research-to-hold.html.

About Internap

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.

Get a free copy of the Zacks research report on Internap (INAP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.

Leave a Reply