Internap Corp (NASDAQ:INAP) Receives Consensus Recommendation of “Buy” from Analysts

Internap Corp (NASDAQ:INAP) has received a consensus rating of “Buy” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $8.25.

Several equities analysts recently weighed in on the company. Raymond James downgraded Internap from a “strong-buy” rating to an “outperform” rating and set a $10.00 price objective for the company. in a research note on Wednesday, September 4th. Zacks Investment Research raised Internap from a “sell” rating to a “hold” rating in a research note on Wednesday, October 9th. Benchmark set a $8.00 price objective on Internap and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, ValuEngine raised Internap from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

NASDAQ INAP opened at $2.11 on Wednesday. Internap has a 1-year low of $1.84 and a 1-year high of $9.17. The company has a market capitalization of $57.51 million, a P/E ratio of -0.70 and a beta of 3.08. The business has a 50 day moving average price of $2.33 and a 200 day moving average price of $2.96.

Internap (NASDAQ:INAP) last released its quarterly earnings data on Tuesday, August 6th. The information technology services provider reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.22). The company had revenue of $73.13 million during the quarter, compared to analysts’ expectations of $76.75 million. During the same period in the prior year, the firm earned ($0.47) earnings per share. Internap’s quarterly revenue was down 10.8% compared to the same quarter last year. Equities research analysts anticipate that Internap will post -2.85 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the business. Teton Advisors Inc. grew its holdings in Internap by 1.6% during the 2nd quarter. Teton Advisors Inc. now owns 578,000 shares of the information technology services provider’s stock valued at $1,740,000 after buying an additional 9,000 shares during the last quarter. Invesco Ltd. grew its holdings in Internap by 51.3% during the 2nd quarter. Invesco Ltd. now owns 426,204 shares of the information technology services provider’s stock valued at $1,283,000 after buying an additional 144,457 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in Internap by 86.9% during the 2nd quarter. Pinnacle Associates Ltd. now owns 168,807 shares of the information technology services provider’s stock valued at $508,000 after buying an additional 78,495 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Internap during the 2nd quarter valued at $322,000. Finally, Paloma Partners Management Co grew its holdings in Internap by 900.3% during the 2nd quarter. Paloma Partners Management Co now owns 105,251 shares of the information technology services provider’s stock valued at $317,000 after buying an additional 94,729 shares during the last quarter. Hedge funds and other institutional investors own 65.66% of the company’s stock.

Internap Company Profile

Internap Corp. engages in the provision of information technology infrastructure services. It operates through the following segments: INAP US and INAP INTL. The INAP US segment consists of U. S. Colocation, U. S. Cloud, and U. S. Network services based in the United States. The INAP INTL segment consists of these same services based in countries other than the United States, and Ubersmith.

See Also: What is Liquidity?

Analyst Recommendations for Internap (NASDAQ:INAP)

Receive News & Ratings for Internap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Internap and related companies with MarketBeat.com's FREE daily email newsletter.