Internap Corporation (INAP) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Internap Corporation (NASDAQ:INAP) have been assigned a consensus rating of “Buy” from the seven brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $5.81.
A number of equities analysts have recently issued reports on the company. BidaskClub upgraded Internap Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Zacks Investment Research upgraded Internap Corporation from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a report on Wednesday, October 4th. Benchmark Co. reiterated a “buy” rating and issued a $6.00 price objective (up from $5.00) on shares of Internap Corporation in a report on Monday, September 25th. Raymond James Financial, Inc. upgraded Internap Corporation from an “outperform” rating to a “strong-buy” rating and set a $7.00 price objective for the company in a report on Friday, August 4th. Finally, UBS Group AG upgraded Internap Corporation from an “outperform” rating to a “strong-buy” rating in a report on Friday, August 4th.
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Internap Corporation (INAP) traded down 0.66% during mid-day trading on Thursday, reaching $4.50. The company had a trading volume of 531,260 shares. The stock’s market capitalization is $357.78 million. The stock has a 50 day moving average price of $4.54 and a 200-day moving average price of $3.92. Internap Corporation has a 12-month low of $0.80 and a 12-month high of $5.59.
Internap Corporation (NASDAQ:INAP) last announced its earnings results on Thursday, August 3rd. The information technology services provider reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The business had revenue of $69.64 million during the quarter, compared to the consensus estimate of $70.59 million. Internap Corporation had a negative return on equity of 234.35% and a negative net margin of 45.52%. Internap Corporation’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.21) earnings per share. Equities analysts anticipate that Internap Corporation will post ($0.55) EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System purchased a new stake in Internap Corporation during the 2nd quarter valued at about $519,000. The Manufacturers Life Insurance Company boosted its holdings in Internap Corporation by 3,328.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,585 shares of the information technology services provider’s stock valued at $244,000 after acquiring an additional 64,643 shares during the period. State Street Corp boosted its holdings in Internap Corporation by 2,861.4% during the 2nd quarter. State Street Corp now owns 1,224,423 shares of the information technology services provider’s stock valued at $4,493,000 after acquiring an additional 1,183,077 shares during the period. Gotham Asset Management LLC boosted its holdings in Internap Corporation by 173.1% during the 2nd quarter. Gotham Asset Management LLC now owns 27,952 shares of the information technology services provider’s stock valued at $103,000 after acquiring an additional 17,717 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. purchased a new stake in Internap Corporation during the 2nd quarter valued at about $158,000. Institutional investors own 83.46% of the company’s stock.
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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