Internap Corporation (INAP) Announces Earnings Results, Misses Estimates By $0.04 EPS
Internap Corporation (NASDAQ:INAP) released its quarterly earnings results on Thursday. The information technology services provider reported ($0.14) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.04), Briefing.com reports. Internap Corporation had a negative return on equity of 234.35% and a negative net margin of 45.52%. The company had revenue of $68.91 million during the quarter, compared to the consensus estimate of $69.10 million. During the same period in the previous year, the company earned ($1.75) earnings per share. Internap Corporation’s quarterly revenue was down 6.8% on a year-over-year basis.
INAP has been the subject of a number of research reports. Zacks Investment Research raised shares of Internap Corporation from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a research note on Wednesday, October 4th. BidaskClub raised shares of Internap Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Raymond James Financial, Inc. raised shares of Internap Corporation from an “outperform” rating to a “strong-buy” rating and set a $7.00 target price for the company in a research note on Friday, August 4th. UBS AG raised shares of Internap Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Friday, August 4th. Finally, Benchmark Co. reaffirmed a “buy” rating and set a $6.00 target price (up previously from $5.00) on shares of Internap Corporation in a research note on Monday, September 25th. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. Internap Corporation has a consensus rating of “Buy” and a consensus price target of $5.81.
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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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