Internap Corporation (INAP) Receives $23.25 Consensus PT from Analysts
Internap Corporation (NASDAQ:INAP) has been given a consensus recommendation of “Buy” by the seven analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $23.25.
Several analysts have recently weighed in on the stock. ValuEngine raised shares of Internap Corporation from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research raised shares of Internap Corporation 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. Benchmark Co. reissued a “buy” rating and set a $24.00 price target (up from $20.00) on shares of Internap Corporation in a research report on Monday, September 25th. Raymond James Financial, Inc. raised shares of Internap Corporation from an “outperform” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Friday, August 4th. Finally, BidaskClub raised shares of Internap Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th.
A number of hedge funds have recently modified their holdings of INAP. KCG Holdings Inc. increased its stake in shares of Internap Corporation by 85.5% during the 1st quarter. KCG Holdings Inc. now owns 27,373 shares of the information technology services provider’s stock worth $102,000 after purchasing an additional 12,620 shares during the last quarter. Gotham Asset Management LLC boosted its holdings in shares of Internap Corporation by 173.1% during the 2nd quarter. Gotham Asset Management LLC now owns 27,952 shares of the information technology services provider’s stock worth $103,000 after buying an additional 17,717 shares during the period. Voya Investment Management LLC bought a new stake in shares of Internap Corporation during the 2nd quarter worth about $133,000. Cornerstone Capital Management Holdings LLC. bought a new stake in Internap Corporation in the 2nd quarter valued at about $158,000. Finally, Symphony Asset Management LLC bought a new stake in Internap Corporation in the 2nd quarter valued at about $159,000. Hedge funds and other institutional investors own 88.87% of the company’s stock.
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Internap Corporation (NASDAQ:INAP) traded down $0.96 during midday trading on Monday, hitting $16.51. 665,100 shares of the stock were exchanged, compared to its average volume of 224,192. Internap Corporation has a 1-year low of $3.20 and a 1-year high of $22.36. The company has a debt-to-equity ratio of 107.36, a quick ratio of 0.69 and a current ratio of 0.69.
Internap Corporation (NASDAQ:INAP) last released its earnings results on Thursday, November 2nd. The information technology services provider reported ($0.56) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.16). Internap Corporation had a negative net margin of 18.09% and a negative return on equity of 282.42%. The company had revenue of $68.91 million during the quarter, compared to the consensus estimate of $69.10 million. During the same quarter in the previous year, the business posted ($7.00) EPS. The firm’s quarterly revenue was down 6.8% on a year-over-year basis. sell-side analysts predict that Internap Corporation will post -2.44 EPS for the current year.
Internap Corporation Company Profile
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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