Zacks: Brokerages Expect Internap (INAP) to Announce -$0.60 EPS

Analysts predict that Internap (NASDAQ:INAP) will announce earnings of ($0.60) per share for the current quarter, according to Zacks. Three analysts have made estimates for Internap’s earnings. Internap reported earnings of ($0.32) per share during the same quarter last year, which would indicate a negative year over year growth rate of 87.5%. The business is scheduled to report its next earnings results on Wednesday, May 9th.

Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Internap.

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Internap (NASDAQ:INAP) last issued its quarterly earnings data on Thursday, March 8th. The information technology services provider reported ($0.33) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.60) by $0.27. Internap had a negative return on equity of 271.76% and a negative net margin of 16.15%. The firm had revenue of $70.00 million during the quarter, compared to the consensus estimate of $68.48 million. During the same quarter in the previous year, the company posted ($0.11) EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year.

INAP has been the subject of a number of analyst reports. Zacks Investment Research cut Internap from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. BidaskClub upgraded Internap from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 21st. Finally, Benchmark reiterated a “buy” rating and set a $28.00 target price on shares of Internap in a report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. Internap presently has a consensus rating of “Buy” and a consensus price target of $24.00.

NASDAQ INAP opened at $10.53 on Friday. Internap has a 52 week low of $10.34 and a 52 week 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.

Institutional investors have recently modified their holdings of the business. MetLife Investment Advisors LLC acquired a new stake in Internap during the 4th quarter worth about $159,000. The Manufacturers Life Insurance Company grew its stake in shares of Internap by 3,328.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,585 shares of the information technology services provider’s stock valued at $244,000 after buying an additional 64,643 shares during the period. Engineers Gate Manager LP grew its stake in shares of 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 valued at $332,000 after buying an additional 26,739 shares during the period. Wells Fargo & Company MN boosted its stake in Internap by 53.3% during the 3rd quarter. Wells Fargo & Company MN now owns 91,411 shares of the information technology services provider’s stock valued at $397,000 after purchasing an additional 31,789 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. lifted its position in shares of Internap by 113.7% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 92,300 shares of the information technology services provider’s stock worth $401,000 after buying an additional 49,100 shares in the last quarter. Hedge funds and other institutional investors own 86.20% of the company’s stock.

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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.

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