Internap (NASDAQ:INAP) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Other research analysts have also issued reports about the stock. Craig Hallum dropped their price objective on shares of Internap from $16.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, December 19th. They noted that the move was a valuation call. Jefferies Financial Group initiated coverage on shares of Internap in a research note on Monday, December 10th. They set a “buy” rating and a $7.50 price objective for the company. Zacks Investment Research raised shares of Internap from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Finally, Raymond James dropped their price objective on shares of Internap from $22.00 to $15.00 and set a “strong-buy” rating for the company in a research note on Friday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $12.10.

NASDAQ INAP opened at $4.53 on Friday. The firm has a market cap of $115.57 million, a price-to-earnings ratio of -2.92 and a beta of 2.91. Internap has a 52 week low of $3.86 and a 52 week high of $15.31.

Internap (NASDAQ:INAP) last posted its quarterly earnings data on Thursday, March 14th. The information technology services provider reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.31). The firm had revenue of $78.20 million for the quarter, compared to analysts’ expectations of $82.52 million. Internap had a negative return on equity of 2,471.65% and a negative net margin of 16.18%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.35) earnings per share. As a group, equities analysts anticipate that Internap will post -2.59 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Internap by 30.2% during the fourth quarter. Geode Capital Management LLC now owns 209,103 shares of the information technology services provider’s stock valued at $867,000 after purchasing an additional 48,478 shares during the period. Millennium Management LLC boosted its stake in shares of Internap by 14.0% during the fourth quarter. Millennium Management LLC now owns 441,138 shares of the information technology services provider’s stock valued at $1,831,000 after purchasing an additional 54,008 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Internap during the fourth quarter valued at $72,000. Bank of America Corp DE boosted its stake in shares of Internap by 16.0% during the fourth quarter. Bank of America Corp DE now owns 42,744 shares of the information technology services provider’s stock valued at $177,000 after purchasing an additional 5,902 shares during the period. Finally, Two Sigma Advisers LP boosted its stake in shares of Internap by 80.5% during the fourth quarter. Two Sigma Advisers LP now owns 35,599 shares of the information technology services provider’s stock valued at $148,000 after purchasing an additional 15,877 shares during the period. 87.61% of the stock is owned by hedge funds and other institutional investors.

About Internap

Internap Corporation provides Internet infrastructure services. It operates through two business segments, INAP COLO and INAP CLOUD. The INAP COLO segment offers colocation services, including physical space within data centers and related services, such as power, interconnection, environmental controls, monitoring, and security; and Internet protocol (IP) connectivity services comprising its patented Performance IP and content delivery network services, IP routing hardware and software platforms, and Managed Internet Route Optimizer controllers.

Further Reading: How to calculate the intrinsic value of a stock

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Analyst Recommendations for Internap (NASDAQ:INAP)

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