Equities analysts forecast that Internap Corporation (NASDAQ:INAP) will post sales of $70.62 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Internap Corporation’s earnings. The highest sales estimate is $71.50 million and the lowest is $69.94 million. Internap Corporation reported sales of $74.32 million during the same quarter last year, which indicates a negative year over year growth rate of 5%. The firm is expected to issue its next earnings report on Thursday, August 3rd.

On average, analysts expect that Internap Corporation will report full year sales of $70.62 million for the current year, with estimates ranging from $279.00 million to $283.80 million. For the next financial year, analysts expect that the firm will report sales of $280.89 million per share, with estimates ranging from $272.60 million to $293.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Internap Corporation.

A number of brokerages have recently issued reports on INAP. BidaskClub upgraded Internap Corporation from a “hold” rating to a “buy” rating in a research note on Thursday. 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. Benchmark Co. reiterated a “buy” rating and set a $5.00 price objective (up previously from $4.00) on shares of Internap Corporation in a research note on Saturday, March 11th. Finally, Stifel Nicolaus upgraded Internap Corporation from a “hold” rating to a “buy” rating and upped their price objective for the stock from $2.00 to $5.50 in a research note on Friday, March 10th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Internap Corporation currently has an average rating of “Buy” and an average price target of $4.55.

In other Internap Corporation news, Director Peter J. Rogers, Jr. bought 15,280 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were acquired at an average cost of $3.29 per share, with a total value of $50,271.20. Following the acquisition, the director now owns 67,306 shares of the company’s stock, valued at $221,436.74. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.83% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Park West Asset Management LLC raised its position in Internap Corporation by 243.8% in the first quarter. Park West Asset Management LLC now owns 11,686,429 shares of the information technology services provider’s stock worth $43,474,000 after buying an additional 8,287,292 shares during the last quarter. Avenir Corp raised its position in Internap Corporation by 289.0% in the first quarter. Avenir Corp now owns 7,840,204 shares of the information technology services provider’s stock worth $29,166,000 after buying an additional 5,824,967 shares during the last quarter. UBS Oconnor LLC raised its position in Internap Corporation by 725.7% in the first quarter. UBS Oconnor LLC now owns 5,000,000 shares of the information technology services provider’s stock worth $18,600,000 after buying an additional 4,394,481 shares during the last quarter. Gabelli Funds LLC raised 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 worth $34,231,000 after buying an additional 4,192,066 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Internap Corporation by 162.2% in the first quarter. Vanguard Group Inc. now owns 2,715,665 shares of the information technology services provider’s stock worth $10,102,000 after buying an additional 1,680,128 shares during the last quarter. 76.80% of the stock is currently owned by institutional investors and hedge funds.

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Internap Corporation (NASDAQ:INAP) opened at 3.83 on Friday. Internap Corporation has a one year low of $0.80 and a one year high of $3.86. The firm’s market cap is $246.46 million. The firm’s 50-day moving average price is $3.38 and its 200 day moving average price is $2.69.

About Internap Corporation

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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Earnings History and Estimates for Internap Corporation (NASDAQ:INAP)

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