Internap Corporation (NASDAQ:INAP) has earned a consensus rating of “Buy” from the seven analysts that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $5.31.

A number of research firms have recently commented on INAP. Raymond James Financial, Inc. upgraded Internap Corporation from an “outperform” rating to a “strong-buy” rating and set a $7.00 target price on the stock in a research report on Friday, August 4th. UBS AG upgraded Internap Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Friday, August 4th. BidaskClub cut Internap Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research upgraded Internap Corporation from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research report on Tuesday, May 16th.

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Shares of Internap Corporation (NASDAQ:INAP) traded down 6.25% during mid-day trading on Friday, hitting $4.20. The stock had a trading volume of 1,431,615 shares. The firm has a 50 day moving average price of $3.94 and a 200 day moving average price of $3.20. The firm’s market cap is $333.93 million. Internap Corporation has a 52-week low of $0.80 and a 52-week high of $4.79.

Internap Corporation (NASDAQ:INAP) last posted its earnings results on Thursday, August 3rd. The information technology services provider reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.01. Internap Corporation had a negative return on equity of 234.35% and a negative net margin of 45.52%. The firm had revenue of $69.64 million for the quarter, compared to analyst estimates of $70.59 million. During the same quarter last year, the firm posted ($0.21) EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities analysts predict that Internap Corporation will post ($0.42) EPS for the current year.

In related news, Director Peter J. Rogers, Jr. purchased 15,280 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were purchased at an average price of $3.29 per share, for a total transaction of $50,271.20. Following the transaction, the director now directly owns 67,306 shares of the company’s stock, valued at approximately $221,436.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Park West Asset Management Llc sold 125,000 shares of the business’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $4.19, for a total value of $523,750.00. The disclosure for this sale can be found here. Insiders sold a total of 3,482,700 shares of company stock worth $13,640,242 in the last 90 days. 5.83% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of INAP. Park West Asset Management LLC boosted its position in shares of 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 valued at $43,474,000 after buying an additional 8,287,292 shares during the period. Gabelli Funds LLC boosted its position in shares of 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. Avenir Corp boosted its position in shares of 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 valued at $29,166,000 after buying an additional 5,824,967 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of Internap Corporation by 8.8% in the second quarter. Gamco Investors INC. ET AL now owns 6,993,067 shares of the information technology services provider’s stock valued at $25,665,000 after buying an additional 563,500 shares during the period. Finally, UBS Oconnor LLC boosted its position in shares of 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 valued at $18,600,000 after buying an additional 4,394,481 shares during the period. Hedge funds and other institutional investors own 77.37% of the company’s stock.

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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