Internap Corp (NASDAQ:INAP) Receives Consensus Rating of “Buy” from Analysts

Internap Corp (NASDAQ:INAP) has received an average recommendation of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $9.08.

A number of research analysts recently issued reports on the company. Benchmark set a $8.00 price objective on Internap and gave the stock a “buy” rating in a report on Wednesday, August 7th. Zacks Investment Research downgraded Internap from a “buy” rating to a “sell” rating in a report on Tuesday. ValuEngine upgraded Internap from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, SunTrust Banks reiterated a “buy” rating and set a $6.00 price objective on shares of Internap in a report on Friday, May 10th.

Shares of NASDAQ:INAP traded up $0.24 during mid-day trading on Friday, reaching $2.20. 274,500 shares of the stock were exchanged, compared to its average volume of 379,630. The company has a quick ratio of 0.77, a current ratio of 0.73 and a debt-to-equity ratio of 11,888.77. The company has a market cap of $53.77 million, a P/E ratio of -0.73 and a beta of 2.91. Internap has a one year low of $1.84 and a one year high of $14.21. The stock’s 50 day simple moving average is $2.89 and its 200-day simple moving average is $3.95.



Internap (NASDAQ:INAP) last posted its quarterly earnings data on Tuesday, August 6th. The information technology services provider reported ($0.78) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.22). The company had revenue of $73.13 million during the quarter, compared to analyst estimates of $76.75 million. The business’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.47) EPS. Analysts anticipate that Internap will post -2.65 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of INAP. BlackRock Inc. raised its position in Internap by 16.0% in the 4th quarter. BlackRock Inc. now owns 1,461,314 shares of the information technology services provider’s stock valued at $6,064,000 after purchasing an additional 201,086 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Internap by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 79,001 shares of the information technology services provider’s stock valued at $328,000 after buying an additional 2,051 shares during the period. Citigroup Inc. increased its stake in Internap by 67.9% in the 4th quarter. Citigroup Inc. now owns 10,171 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 4,115 shares during the period. Northern Trust Corp increased its stake in Internap by 15.5% in the 4th quarter. Northern Trust Corp now owns 279,618 shares of the information technology services provider’s stock valued at $1,160,000 after buying an additional 37,556 shares during the period. Finally, Geode Capital Management LLC increased its stake in Internap by 30.2% in the 4th quarter. Geode Capital Management LLC now owns 209,103 shares of the information technology services provider’s stock valued at $867,000 after buying an additional 48,478 shares during the period. 67.31% of the stock is owned by hedge funds and other institutional investors.

Internap Company Profile

Internap Corp. engages in the provision of information technology infrastructure services. It operates through the following segments: INAP US and INAP INTL. The INAP US segment consists of U. S. Colocation, U. S. Cloud, and U. S. Network services based in the United States. The INAP INTL segment consists of these same services based in countries other than the United States, and Ubersmith.

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Analyst Recommendations for Internap (NASDAQ:INAP)

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