Internap Corp (INAP) Receives Average Recommendation of “Hold” from Analysts

Shares of Internap Corp (NASDAQ:INAP) have received an average rating of “Hold” from the six research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $21.00.

Several research firms recently issued reports on INAP. SunTrust Banks began coverage on Internap in a report on Tuesday, September 18th. They set a “buy” rating and a $22.00 target price on the stock. BidaskClub lowered Internap from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Stifel Nicolaus set a $13.00 target price on Internap and gave the stock a “hold” rating in a report on Friday, August 3rd. ValuEngine upgraded Internap from a “strong sell” rating to a “sell” rating in a report on Friday, August 3rd. Finally, Zacks Investment Research upgraded Internap from a “sell” rating to a “hold” rating in a report on Thursday, July 5th.

INAP opened at $11.53 on Friday. 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 P/E ratio of -7.44 and a beta of 2.26. The company has a debt-to-equity ratio of -126.72, a quick ratio of 0.62 and a current ratio of 0.62.

Internap (NASDAQ:INAP) last released its earnings results on Thursday, August 2nd. The information technology services provider reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.22. Internap had a negative return on equity of 2,471.65% and a negative net margin of 15.52%. The business had revenue of $81.96 million for the quarter, compared to analyst estimates of $81.76 million. During the same quarter in the prior year, the company posted ($0.24) earnings per share. Internap’s revenue was up 17.7% on a year-over-year basis. Equities research analysts predict that Internap will post -2.27 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its position in Internap by 31.5% during the second quarter. Bank of America Corp DE now owns 36,981 shares of the information technology services provider’s stock worth $385,000 after buying an additional 8,857 shares during the last quarter. Proxima Capital Management LLC acquired a new position in Internap during the second quarter worth approximately $3,455,000. Raymond James & Associates increased its position in Internap by 114.7% during the second quarter. Raymond James & Associates now owns 23,794 shares of the information technology services provider’s stock worth $248,000 after buying an additional 12,709 shares during the last quarter. Teton Advisors Inc. increased its position in Internap by 23.9% during the second quarter. Teton Advisors Inc. now owns 440,000 shares of the information technology services provider’s stock worth $4,585,000 after buying an additional 85,000 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position in Internap by 3.2% during the second quarter. Gamco Investors INC. ET AL now owns 2,284,165 shares of the information technology services provider’s stock worth $23,801,000 after buying an additional 70,945 shares during the last quarter. 83.90% of the stock is currently owned by hedge funds and other institutional investors.

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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