Internap (NASDAQ:INAP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note 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. “
A number of other brokerages have also commented on INAP. BidaskClub upgraded shares of Internap from a “sell” rating to a “hold” rating in a report on Saturday, December 16th. ValuEngine upgraded shares of Internap from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. Finally, Benchmark restated a “buy” rating and issued a $24.00 target price (up previously from $20.00) on shares of Internap in a research report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Internap currently has a consensus rating of “Buy” and a consensus price target of $24.25.
Shares of Internap (INAP) traded down $1.38 on Wednesday, reaching $14.90. The company’s stock had a trading volume of 328,314 shares, compared to its average volume of 149,201. Internap has a 12 month low of $6.40 and a 12 month high of $22.36. The company has a debt-to-equity ratio of 107.36, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market cap of $339.37, a price-to-earnings ratio of -4.90 and a beta of 1.85.
Internap (NASDAQ:INAP) last issued its quarterly earnings results on Thursday, November 2nd. The information technology services provider reported ($0.56) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.16). Internap had a negative net margin of 18.09% and a negative return on equity of 282.42%. The business had revenue of $68.91 million during the quarter, compared to analyst estimates of $69.10 million. During the same quarter last year, the firm posted ($7.00) earnings per share. The company’s revenue was down 6.8% on a year-over-year basis. equities analysts predict that Internap will post -2.44 EPS for the current fiscal year.
Several large investors have recently modified their holdings of INAP. Gotham Asset Management LLC lifted its position in shares of Internap by 173.1% in the 2nd quarter. Gotham Asset Management LLC now owns 27,952 shares of the information technology services provider’s stock valued at $103,000 after acquiring an additional 17,717 shares in the last quarter. Voya Investment Management LLC bought a new position in shares of Internap during the 2nd quarter worth about $133,000. Cornerstone Capital Management Holdings LLC. bought a new position in Internap during the 2nd quarter valued at about $158,000. Symphony Asset Management LLC bought a new position in Internap during the 2nd quarter valued at about $159,000. Finally, Nationwide Fund Advisors bought a new position in Internap during the 2nd quarter valued at about $166,000.
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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.
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