Internap (NASDAQ:INAP) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
Other research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Internap from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Wednesday, March 14th. ValuEngine lowered shares of Internap from a “sell” rating to a “strong sell” rating in a research note on Monday, April 2nd. Finally, Benchmark reissued a “buy” rating and set a $28.00 target price on shares of Internap in a research note on Tuesday, January 30th. One analyst has 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 company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $24.00.
Internap stock opened at $11.31 on Thursday. The company has a debt-to-equity ratio of -496.68, a current ratio of 0.64 and a quick ratio of 0.64. Internap has a 52-week low of $10.02 and a 52-week high of $22.36.
Internap (NASDAQ:INAP) last posted its earnings results on Thursday, May 3rd. The information technology services provider reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.13). The firm had revenue of $74.20 million for the quarter, compared to analyst estimates of $73.99 million. Internap had a negative net margin of 18.10% and a negative return on equity of 812.17%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) earnings per share. equities analysts forecast that Internap will post -1.91 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC bought a new stake in shares of Internap during the 4th quarter worth about $159,000. ACG Wealth bought a new stake in shares of Internap during the 4th quarter worth about $604,000. Monarch Partners Asset Management LLC raised its position in shares of Internap by 55.8% during the 1st quarter. Monarch Partners Asset Management LLC now owns 40,815 shares of the information technology services provider’s stock worth $449,000 after buying an additional 14,620 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of 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 worth $397,000 after buying an additional 31,789 shares in the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in shares of Internap during the 3rd quarter worth about $1,261,000. Institutional investors own 81.64% of the company’s stock.
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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