Wall Street brokerages forecast that Internap Corporation (NASDAQ:INAP) will post sales of $68.42 million for the current quarter, Zacks reports. Three analysts have provided estimates for Internap’s earnings, with the lowest sales estimate coming in at $68.20 million and the highest estimate coming in at $68.80 million. Internap reported sales of $74.12 million during the same quarter last year, which indicates a negative year over year growth rate of 7.7%. The firm is scheduled to report its next earnings results on Thursday, March 8th.
According to Zacks, analysts expect that Internap will report full year sales of $68.42 million for the current financial year, with estimates ranging from $278.90 million to $279.50 million. For the next financial year, analysts expect that the firm will report sales of $275.78 million per share, with estimates ranging from $272.40 million to $281.40 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Internap.
Internap (NASDAQ:INAP) last released its quarterly earnings results on Thursday, November 2nd. The information technology services provider reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.16). The company had revenue of $68.91 million for the quarter, compared to the consensus estimate of $69.10 million. Internap had a negative return on equity of 282.42% and a negative net margin of 18.09%. The business’s revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the company posted ($7.00) EPS.
Several hedge funds have recently added to or reduced their stakes in INAP. Gamco Investors INC. ET AL increased its stake in Internap by 5.9% in the 3rd quarter. Gamco Investors INC. ET AL now owns 7,406,564 shares of the information technology services provider’s stock valued at $32,219,000 after buying an additional 413,497 shares during the last quarter. Vanguard Group Inc. raised its position in Internap by 13.5% in the 2nd quarter. Vanguard Group Inc. now owns 3,081,341 shares of the information technology services provider’s stock worth $11,309,000 after purchasing an additional 365,676 shares during the period. Emerald Mutual Fund Advisers Trust increased its position in shares of Internap by 185.8% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,957,710 shares of the information technology services provider’s stock valued at $8,516,000 after acquiring an additional 1,272,692 shares during the period. Emerald Advisers Inc. PA purchased a new position in shares of Internap during the third quarter valued at about $8,100,000. Finally, State Street Corp increased its position in shares of Internap by 2,861.4% during the second quarter. State Street Corp now owns 1,224,423 shares of the information technology services provider’s stock valued at $4,493,000 after buying an additional 1,183,077 shares during the period.
Shares of Internap (NASDAQ INAP) opened at $14.20 on Monday. The company has a debt-to-equity ratio of 107.36, a quick ratio of 0.69 and a current ratio of 0.69. Internap has a 52-week low of $3.20 and a 52-week high of $22.36.
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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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