Zacks Investment Research upgraded shares of Internap (NASDAQ:INAP) from a hold rating to a buy rating in a report released on Wednesday, March 14th. Zacks Investment Research currently has $16.00 price target on the information technology services provider’s stock.
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 research analysts also recently commented on INAP. ValuEngine raised shares of Internap from a sell rating to a hold rating in a report on Tuesday, November 21st. BidaskClub downgraded shares of Internap from a hold rating to a sell rating in a report on Thursday, December 7th. Finally, Benchmark reiterated a buy rating and issued a $28.00 target price on shares of Internap in a research note on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $24.00.
INAP traded down $0.13 on Wednesday, hitting $10.94. The company’s stock had a trading volume of 222,118 shares, compared to its average volume of 282,438. The company has a market cap of $222.07, a PE ratio of -7.06 and a beta of 2.02. Internap has a 12 month low of $10.34 and a 12 month high of $22.36. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of -496.68.
Internap (NASDAQ:INAP) last released its quarterly earnings data on Thursday, March 8th. The information technology services provider reported ($0.33) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.60) by $0.27. The company had revenue of $70.00 million during the quarter, compared to the consensus estimate of $68.48 million. Internap had a negative net margin of 16.15% and a negative return on equity of 271.76%. Internap’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period last year, the firm earned ($0.11) EPS. research analysts forecast that Internap will post -1.91 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MetLife Investment Advisors LLC purchased a new stake in Internap in the 4th quarter worth approximately $159,000. Engineers Gate Manager LP lifted its stake in Internap by 54.0% in the 3rd quarter. Engineers Gate Manager LP now owns 76,235 shares of the information technology services provider’s stock worth $332,000 after purchasing an additional 26,739 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Internap by 53.3% in the 3rd quarter. Wells Fargo & Company MN now owns 91,411 shares of the information technology services provider’s stock worth $397,000 after purchasing an additional 31,789 shares in the last quarter. Voya Investment Management LLC purchased a new stake in Internap in the 2nd quarter worth approximately $133,000. Finally, ACG Wealth purchased a new stake in Internap in the 4th quarter worth approximately $604,000. Institutional investors and hedge funds own 86.20% of the company’s stock.
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Internap Company Profile
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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