Brokerages Expect Internap Corporation (INAP) to Post -$0.07 Earnings Per Share
Brokerages expect that Internap Corporation (NASDAQ:INAP) will report ($0.07) earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Internap Corporation’s earnings. The highest EPS estimate is ($0.04) and the lowest is ($0.08). Internap Corporation reported earnings per share of ($0.17) during the same quarter last year, which indicates a positive year over year growth rate of 58.8%. The business is scheduled to report its next earnings report on Thursday, August 3rd.
Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Internap Corporation.
Internap Corporation (NASDAQ:INAP) last issued its earnings results on Thursday, March 9th. The information technology services provider reported ($0.11) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. Internap Corporation had a negative net margin of 41.88% and a negative return on equity of 86.46%. The firm had revenue of $74.10 million during the quarter, compared to the consensus estimate of $73.46 million. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. The business’s quarterly revenue was down 6.0% on a year-over-year basis.
A number of brokerages recently issued reports on INAP. Benchmark Co. restated a “buy” rating and issued a $5.00 price objective (up from $4.00) on shares of Internap Corporation in a research note on Saturday, March 11th. Stifel Nicolaus upgraded Internap Corporation from a “hold” rating to a “buy” rating and boosted their price objective for the company from $2.00 to $5.50 in a research note on Friday, March 10th. Finally, Zacks Investment Research upgraded Internap Corporation from a “hold” rating to a “buy” rating and set a $3.75 price objective on the stock in a research note on Tuesday, May 16th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $4.55.
In related news, Director Peter J. Rogers, Jr. purchased 15,280 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were purchased at an average cost of $3.29 per share, for a total transaction of $50,271.20. Following the completion of the transaction, the director now directly owns 67,306 shares in the company, valued at approximately $221,436.74. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.83% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in shares of Internap Corporation by 46.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,563,420 shares of the information technology services provider’s stock valued at $2,408,000 after buying an additional 493,920 shares in the last quarter. Teton Advisors Inc. boosted its position in Internap Corporation by 156.6% in the fourth quarter. Teton Advisors Inc. now owns 1,400,000 shares of the information technology services provider’s stock valued at $2,156,000 after buying an additional 854,500 shares during the period. Oxford Asset Management bought a new position in Internap Corporation during the first quarter valued at $1,685,000. Gabelli Funds LLC boosted its position in Internap Corporation by 83.7% in the first quarter. Gabelli Funds LLC now owns 9,201,883 shares of the information technology services provider’s stock valued at $34,231,000 after buying an additional 4,192,066 shares during the period. Finally, Two Sigma Investments LP boosted its position in Internap Corporation by 146.6% in the fourth quarter. Two Sigma Investments LP now owns 245,135 shares of the information technology services provider’s stock valued at $378,000 after buying an additional 145,712 shares during the period. Hedge funds and other institutional investors own 76.76% of the company’s stock.
Shares of Internap Corporation (NASDAQ:INAP) traded down 3.03% during midday trading on Monday, reaching $3.20. 576,289 shares of the company’s stock traded hands. Internap Corporation has a 52-week low of $0.80 and a 52-week high of $3.86. The stock’s market cap is $205.92 million. The stock has a 50-day moving average price of $3.29 and a 200-day moving average price of $2.48.
Internap Corporation 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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