Brokerages predict that Internap Corp (NASDAQ:INAP) will post earnings per share (EPS) of ($0.51) for the current quarter, according to Zacks. Four analysts have made estimates for Internap’s earnings. The lowest EPS estimate is ($0.61) and the highest is ($0.40). Internap reported earnings of ($0.52) per share during the same quarter last year, which indicates a positive year over year growth rate of 1.9%. The company is scheduled to issue its next earnings results on Thursday, November 1st.
Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Internap.
Internap (NASDAQ:INAP) last announced its quarterly earnings data on Thursday, August 2nd. The information technology services provider reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.22. Internap had a negative net margin of 15.52% and a negative return on equity of 2,471.65%. The company had revenue of $81.96 million during the quarter, compared to analysts’ expectations of $81.76 million. During the same quarter in the prior year, the company earned ($0.24) EPS. Internap’s revenue was up 17.7% compared to the same quarter last year.
INAP has been the subject of several research reports. SunTrust Banks initiated coverage on shares of Internap in a research note on Tuesday, September 18th. They set a “buy” rating and a $22.00 price objective for the company. BidaskClub raised shares of Internap from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Stifel Nicolaus set a $13.00 price target on shares of Internap and gave the company a “hold” rating in a research note on Friday, August 3rd. Zacks Investment Research raised shares of Internap from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. Finally, ValuEngine raised shares of Internap from a “strong sell” rating to a “sell” rating in a research note on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Internap presently has an average rating of “Hold” and an average price target of $19.75.
Institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Internap in the 2nd quarter valued at approximately $126,000. Citadel Advisors LLC purchased a new stake in shares of Internap in the 1st quarter valued at approximately $169,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Internap in the 1st quarter valued at approximately $188,000. Royal Bank of Canada grew its stake in shares of Internap by 1,220.3% in the 1st quarter. Royal Bank of Canada now owns 17,666 shares of the information technology services provider’s stock valued at $194,000 after buying an additional 16,328 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Internap in the 1st quarter valued at approximately $202,000. 83.90% of the stock is owned by institutional investors and hedge funds.
NASDAQ INAP traded up $0.50 during trading hours on Friday, hitting $11.53. 213,407 shares of the company’s stock traded hands, compared to its average volume of 273,307. Internap has a 52-week low of $8.88 and a 52-week high of $20.68. The stock has a market cap of $267.99 million, a PE ratio of -7.44 and a beta of 2.26. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of -126.72.
Internap Company Profile
Internap Corporation provides Internet infrastructure services. It operates through two business segments, INAP COLO and INAP CLOUD. The INAP COLO segment offers colocation services, including physical space within data centers and related services, such as power, interconnection, environmental controls, monitoring, and security; and Internet protocol (IP) connectivity services comprising its patented Performance IP and content delivery network services, IP routing hardware and software platforms, and Managed Internet Route Optimizer controllers.
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