Internap (NASDAQ:INAP) had its price objective cut by SunTrust Banks to $15.00 in a report released on Friday morning, The Fly reports. They currently have a buy rating on the information technology services provider’s stock.
A number of other research analysts have also issued reports on INAP. Zacks Investment Research upgraded shares of Internap from a sell rating to a hold rating in a report on Thursday, July 5th. BidaskClub upgraded shares of Internap from a sell rating to a hold rating in a report on Wednesday, July 11th. Stifel Nicolaus initiated coverage on shares of Internap in a report on Tuesday, July 17th. They issued a hold rating and a $12.00 target price on the stock. ValuEngine upgraded shares of Internap from a strong sell rating to a sell rating in a report on Friday, August 3rd. Finally, Craig Hallum reduced their target price on shares of Internap from $22.00 to $16.00 and set a buy rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Internap has an average rating of Hold and an average target price of $17.60.
Shares of Internap stock traded up $0.43 on Friday, hitting $6.81. The company’s stock had a trading volume of 1,539,237 shares, compared to its average volume of 683,555. Internap has a 52-week low of $6.08 and a 52-week high of $18.49. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 72.60.
Internap (NASDAQ:INAP) last released its earnings results on Thursday, November 1st. The information technology services provider reported ($0.75) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.24). The firm had revenue of $82.97 million during the quarter, compared to analysts’ expectations of $82.80 million. Internap had a negative net margin of 16.18% and a negative return on equity of 5,372.82%. Internap’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.48) earnings per share. As a group, sell-side analysts predict that Internap will post -2.27 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Internap in the 2nd quarter valued at about $126,000. Dynamic Technology Lab Private Ltd purchased a new position in Internap in the 1st quarter valued at about $188,000. Royal Bank of Canada lifted its holdings in shares of Internap by 1,220.3% during the 1st quarter. Royal Bank of Canada now owns 17,666 shares of the information technology services provider’s stock worth $194,000 after acquiring an additional 16,328 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Internap during the 1st quarter worth about $202,000. Finally, Creative Planning purchased a new position in shares of Internap during the 2nd quarter worth about $231,000. Institutional investors own 83.90% of the company’s stock.
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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