Brokerages Set Internap Corp (INAP) Price Target at $23.25
Internap Corp (NASDAQ:INAP) has been given an average rating of “Buy” by the seven brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $23.25.
Several brokerages recently issued reports on INAP. BidaskClub raised shares of Internap from a “sell” rating to a “hold” rating in a research note on Saturday. ValuEngine downgraded shares of Internap from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Zacks Investment Research raised shares of Internap from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Wednesday, October 4th. Finally, Benchmark reaffirmed a “buy” rating and set a $24.00 price target (up previously from $20.00) on shares of Internap in a research note on Monday, September 25th.
Shares of Internap (NASDAQ:INAP) traded up $0.28 on Friday, hitting $15.72. 151,361 shares of the company traded hands, compared to its average volume of 227,376. 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 fifty-two week low of $4.68 and a fifty-two week high of $22.36.
Internap (NASDAQ:INAP) last announced its quarterly earnings data on Thursday, November 2nd. The information technology services provider reported ($0.56) earnings per share (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 analysts’ expectations 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 quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the company posted ($7.00) EPS. equities analysts predict that Internap will post -2.44 EPS for the current year.
Large investors have recently bought and sold shares of the business. Gotham Asset Management LLC raised its stake in Internap by 173.1% during the second quarter. Gotham Asset Management LLC now owns 27,952 shares of the information technology services provider’s stock worth $103,000 after purchasing an additional 17,717 shares during the period. Voya Investment Management LLC purchased a new position in Internap during the second quarter worth approximately $133,000. Cornerstone Capital Management Holdings LLC. purchased a new position in Internap during the second quarter worth approximately $158,000. Symphony Asset Management LLC purchased a new position in Internap during the second quarter worth approximately $159,000. Finally, Brighton Jones LLC purchased a new position in Internap during the second quarter worth approximately $160,000.
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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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