BidaskClub upgraded shares of Internap Corporation (NASDAQ:INAP) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Other analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Internap Corporation from a hold rating to a buy rating and set a $3.75 target price on the stock in a report on Tuesday, May 16th. Raymond James Financial, Inc. upgraded shares of Internap Corporation from an outperform rating to a strong-buy rating and set a $7.00 target price on the stock in a report on Friday, August 4th. Finally, UBS AG upgraded shares of Internap Corporation from an outperform rating to a strong-buy rating in a report on Friday, August 4th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $5.31.

Internap Corporation (INAP) opened at 4.35 on Friday. The firm’s market capitalization is $345.86 million. Internap Corporation has a one year low of $0.80 and a one year high of $4.78. The stock’s 50 day moving average price is $4.10 and its 200 day moving average price is $3.34.

Internap Corporation (NASDAQ:INAP) last released its earnings results on Thursday, August 3rd. The information technology services provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.01. Internap Corporation had a negative return on equity of 234.35% and a negative net margin of 45.52%. The business had revenue of $69.64 million during the quarter, compared to the consensus estimate of $70.59 million. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. Analysts expect that Internap Corporation will post ($0.42) EPS for the current year.

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In other news, Director Peter J. Rogers, Jr. purchased 15,280 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average price of $3.29 per share, for a total transaction of $50,271.20. Following the completion of the acquisition, the director now directly owns 67,306 shares of the company’s stock, valued at $221,436.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Park West Asset Management Llc sold 1,107,700 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $3.96, for a total transaction of $4,386,492.00. The disclosure for this sale can be found here. Insiders have sold 3,482,700 shares of company stock worth $13,640,242 in the last 90 days. 5.83% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Park West Asset Management LLC raised its stake in Internap Corporation by 243.8% in the first quarter. Park West Asset Management LLC now owns 11,686,429 shares of the information technology services provider’s stock worth $43,474,000 after buying an additional 8,287,292 shares in the last quarter. Gabelli Funds LLC raised its stake in Internap Corporation by 83.7% in the first quarter. Gabelli Funds LLC now owns 9,201,883 shares of the information technology services provider’s stock worth $34,231,000 after buying an additional 4,192,066 shares in the last quarter. Avenir Corp raised its stake in Internap Corporation by 289.0% in the first quarter. Avenir Corp now owns 7,840,204 shares of the information technology services provider’s stock worth $29,166,000 after buying an additional 5,824,967 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in Internap Corporation by 8.8% in the second quarter. Gamco Investors INC. ET AL now owns 6,993,067 shares of the information technology services provider’s stock worth $25,665,000 after buying an additional 563,500 shares in the last quarter. Finally, UBS Oconnor LLC raised its stake in Internap Corporation by 725.7% in the first quarter. UBS Oconnor LLC now owns 5,000,000 shares of the information technology services provider’s stock worth $18,600,000 after buying an additional 4,394,481 shares in the last quarter. Institutional investors and hedge funds own 77.31% of the company’s stock.

About Internap Corporation

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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