Internap Corp (INAP) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Internap Corp (NASDAQ:INAP) have received a consensus rating of “Buy” from the seven brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $26.00.

Several equities analysts have recently commented on INAP shares. ValuEngine raised shares of Internap from a “sell” rating to a “hold” rating in a research note on Tuesday, November 21st. BidaskClub downgraded shares of Internap from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Zacks Investment Research downgraded shares of Internap from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Finally, Benchmark reissued a “buy” rating and issued a $28.00 price target on shares of Internap in a research note on Tuesday.

A number of hedge funds have recently added to or reduced their stakes in the stock. Gotham Asset Management LLC raised its stake in Internap by 173.1% in the second quarter. Gotham Asset Management LLC now owns 27,952 shares of the information technology services provider’s stock worth $103,000 after buying an additional 17,717 shares in the last quarter. Engineers Gate Manager LP raised its stake in Internap by 54.0% in the third quarter. Engineers Gate Manager LP now owns 76,235 shares of the information technology services provider’s stock worth $332,000 after buying an additional 26,739 shares in the last quarter. Wells Fargo & Company MN raised its stake in Internap by 53.3% in the third quarter. Wells Fargo & Company MN now owns 91,411 shares of the information technology services provider’s stock worth $397,000 after buying an additional 31,789 shares in the last quarter. Voya Investment Management LLC bought a new position in Internap in the second quarter worth about $133,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in Internap in the second quarter worth about $158,000.

Shares of Internap (INAP) traded down $1.38 during trading hours on Friday, hitting $14.90. 328,314 shares of the stock traded hands, compared to its average volume of 149,201. The company has a market capitalization of $339.37, a P/E ratio of -4.90 and a beta of 1.85. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 107.36. Internap has a 52-week low of $6.40 and a 52-week high of $22.36.

Internap (NASDAQ:INAP) last issued its quarterly earnings data on Thursday, November 2nd. The information technology services provider reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.16). The firm had revenue of $68.91 million for 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 business’s revenue was down 6.8% on a year-over-year basis. During the same period last year, the company posted ($7.00) earnings per share. equities research analysts expect that Internap will post -2.44 earnings per share for the current fiscal year.

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About Internap

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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