Internap (INAP) Lifted to “Hold” at BidaskClub

Internap (NASDAQ:INAP) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other analysts have also issued reports about the stock. Benchmark restated a “buy” rating and set a $24.00 price target (up from $20.00) on shares of Internap in a research report on Monday, September 25th. ValuEngine lowered shares of Internap from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research upgraded shares of Internap from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $23.25.

Internap (INAP) opened at $15.67 on Friday. The company has a debt-to-equity ratio of 107.36, a current ratio of 0.69 and a quick ratio of 0.69. Internap has a 12 month low of $3.56 and a 12 month high of $22.36.

Internap (NASDAQ:INAP) last released its earnings results on Thursday, November 2nd. The information technology services provider reported ($0.56) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.16). The firm had revenue of $68.91 million during the quarter, compared to the consensus estimate of $69.10 million. Internap had a negative net margin of 18.09% and a negative return on equity of 282.42%. The firm’s revenue was down 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($7.00) EPS. sell-side analysts anticipate that Internap will post -2.44 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. Gotham Asset Management LLC boosted its holdings in shares of Internap by 173.1% during the second quarter. Gotham Asset Management LLC now owns 27,952 shares of the information technology services provider’s stock worth $103,000 after purchasing an additional 17,717 shares during the period. Voya Investment Management LLC purchased a new stake in Internap in the second quarter worth about $133,000. Cornerstone Capital Management Holdings LLC. purchased a new stake in Internap in the second quarter worth about $158,000. Symphony Asset Management LLC purchased a new stake in Internap in the second quarter worth about $159,000. Finally, Brighton Jones LLC purchased a new stake in Internap in the second quarter worth about $160,000.

WARNING: “Internap (INAP) Lifted to “Hold” at BidaskClub” was reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/12/16/internap-inap-lifted-to-hold-at-bidaskclub.html.

Internap 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.

Receive News & Ratings for Internap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Internap and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply