Benchmark Co. reaffirmed their buy rating on shares of Internap Network Services Corp. (NASDAQ:INAP) in a research report sent to investors on Wednesday morning. They currently have a $4.00 target price on the stock.

“We note that, of the 1,585,000 restricted shares awarded to Mr. Aquino, only 300,000 are subject to time-based vesting, with the remainder vesting in tranches based on stock price or a hybrid of time/price, and an initial share price hurdle of $5 per share. We also suspect that, perhaps unlike past transitions, top shareholders may have been at least involved/consulted, which could provide a modicum of stability now that all of the activists have exited. Still, we acknowledge that, outside of operational outperformance, any transaction-based catalyst seems to be likely pushed out into 2017 at the earliest, which could test the patience of the remaining shareholder base.”,” the firm’s analyst commented.

Several other equities analysts also recently weighed in on the stock. Drexel Hamilton set a $5.00 price target on shares of Internap Network Services Corp. and gave the stock a buy rating in a report on Friday, August 5th. Craig Hallum upgraded shares of Internap Network Services Corp. from a hold rating to a buy rating and set a $3.50 price target on the stock in a report on Monday, August 8th. Finally, Zacks Investment Research downgraded shares of Internap Network Services Corp. from a strong-buy rating to a hold rating in a report on Tuesday, July 12th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $5.94.

Internap Network Services Corp. (NASDAQ:INAP) opened at 1.85 on Wednesday. The stock’s market cap is $96.31 million. Internap Network Services Corp. has a 12-month low of $1.79 and a 12-month high of $9.20. The stock has a 50 day moving average of $2.22 and a 200 day moving average of $2.38.

Internap Network Services Corp. (NASDAQ:INAP) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. Internap Network Services Corp. had a negative net margin of 14.90% and a negative return on equity of 35.34%. The company had revenue of $74.30 million for the quarter, compared to analyst estimates of $76.61 million. During the same quarter last year, the company earned ($0.20) EPS. The business’s revenue was down 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that Internap Network Services Corp. will post ($0.49) earnings per share for the current fiscal year.

In other news, Director Daniel Stanzione acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were acquired at an average price of $1.93 per share, with a total value of $96,500.00. Following the purchase, the director now directly owns 193,536 shares of the company’s stock, valued at $373,524.48. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.83% of the company’s stock.

Several large investors have recently modified their holdings of the company. Globeflex Capital L P purchased a new stake in shares of Internap Network Services Corp. during the second quarter worth approximately $857,000. GSA Capital Partners LLP boosted its stake in shares of Internap Network Services Corp. by 197.6% in the second quarter. GSA Capital Partners LLP now owns 268,265 shares of the company’s stock worth $553,000 after buying an additional 178,117 shares during the last quarter. Gabelli Funds LLC boosted its stake in shares of Internap Network Services Corp. by 16.9% in the second quarter. Gabelli Funds LLC now owns 4,444,345 shares of the company’s stock worth $9,155,000 after buying an additional 643,893 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Internap Network Services Corp. by 0.4% in the second quarter. Gamco Investors INC. ET AL now owns 7,381,995 shares of the company’s stock worth $15,207,000 after buying an additional 30,700 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Internap Network Services Corp. by 36.3% in the second quarter. California Public Employees Retirement System now owns 248,400 shares of the company’s stock worth $512,000 after buying an additional 66,100 shares during the last quarter. 70.69% of the stock is currently owned by institutional investors and hedge funds.

Internap Network Services Corp. Company Profile

Internap Corporation, formerly InterNAP Network Services Corporation, provides Internet infrastructure services. The Company operates through two segments: Data Center Services segment and Internet Protocol Services segment. It offers hybrid Internet infrastructure services, which enables customers to mix and match cloud, hosting and colocation for the combination of services.

5 Day Chart for NASDAQ:INAP

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