Analysts Expect Internap Corp (INAP) to Post -$0.51 Earnings Per Share

Analysts expect Internap Corp (NASDAQ:INAP) to report earnings of ($0.51) per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Internap’s earnings, with estimates ranging from ($0.61) to ($0.40). Internap reported earnings of ($0.52) per share in the same quarter last year, which indicates a positive year over year growth rate of 1.9%. The firm is scheduled to report its next earnings report on Thursday, November 1st.

Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Internap.

Internap (NASDAQ:INAP) last issued its earnings results on Thursday, August 2nd. The information technology services provider reported ($0.47) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.69) by $0.22. The firm had revenue of $81.96 million for the quarter, compared to analyst estimates of $81.76 million. Internap had a negative return on equity of 2,471.65% and a negative net margin of 15.52%. Internap’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.24) earnings per share.

Several equities research analysts have commented on INAP shares. SunTrust Banks started coverage on Internap in a research report on Tuesday, September 18th. They issued a “buy” rating and a $22.00 price objective on the stock. BidaskClub upgraded Internap from a “hold” rating to a “buy” rating in a research report on Tuesday, August 14th. Stifel Nicolaus set a $13.00 price objective on Internap and gave the stock a “hold” rating in a research report on Friday, August 3rd. Zacks Investment Research upgraded Internap from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Finally, ValuEngine upgraded Internap from a “strong sell” rating to a “sell” rating in a research report on Friday, August 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Internap has a consensus rating of “Hold” and an average target price of $19.75.

A number of institutional investors have recently added to or reduced their stakes in the business. Gabelli Funds LLC boosted its position in Internap by 13.3% in the 2nd quarter. Gabelli Funds LLC now owns 2,392,797 shares of the information technology services provider’s stock worth $24,933,000 after purchasing an additional 280,924 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in Internap by 3.2% in the 2nd quarter. Gamco Investors INC. ET AL now owns 2,284,165 shares of the information technology services provider’s stock worth $23,801,000 after purchasing an additional 70,945 shares in the last quarter. BlackRock Inc. boosted its position in Internap by 6.6% in the 2nd quarter. BlackRock Inc. now owns 1,375,879 shares of the information technology services provider’s stock worth $14,336,000 after purchasing an additional 84,729 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Internap by 13.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 654,686 shares of the information technology services provider’s stock worth $6,822,000 after purchasing an additional 78,781 shares in the last quarter. Finally, Teton Advisors Inc. boosted its position in Internap by 23.9% in the 2nd quarter. Teton Advisors Inc. now owns 440,000 shares of the information technology services provider’s stock worth $4,585,000 after purchasing an additional 85,000 shares in the last quarter. Institutional investors and hedge funds own 83.90% of the company’s stock.

Internap stock traded down $2.09 during mid-day trading on Friday, hitting $8.95. The company had a trading volume of 3,681,885 shares, compared to its average volume of 174,330. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of -126.72. Internap has a 12-month low of $8.75 and a 12-month high of $20.16. The firm has a market cap of $234.25 million, a PE ratio of -5.77 and a beta of 2.26.

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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