-$0.72 Earnings Per Share Expected for Internap Corp (NASDAQ:INAP) This Quarter

Equities research analysts predict that Internap Corp (NASDAQ:INAP) will post earnings per share of ($0.72) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Internap’s earnings, with the lowest EPS estimate coming in at ($0.73) and the highest estimate coming in at ($0.71). Internap posted earnings of ($0.82) per share in the same quarter last year, which indicates a positive year over year growth rate of 12.2%. The business is expected to report its next quarterly earnings results on Thursday, March 12th.

Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Internap.

Internap (NASDAQ:INAP) last announced its earnings results on Tuesday, November 12th. The information technology services provider reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.35). The business had revenue of $72.88 million during the quarter, compared to analysts’ expectations of $73.66 million.

A number of analysts have recently commented on the company. ValuEngine raised Internap from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research downgraded Internap from a “hold” rating to a “sell” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Internap presently has a consensus rating of “Buy” and an average target price of $7.20.

Several institutional investors and hedge funds have recently bought and sold shares of INAP. Jane Street Group LLC bought a new stake in shares of Internap in the 4th quarter worth $86,000. Pacer Advisors Inc. raised its stake in shares of Internap by 371.1% in the 3rd quarter. Pacer Advisors Inc. now owns 98,344 shares of the information technology services provider’s stock worth $254,000 after buying an additional 77,470 shares in the last quarter. Millennium Management LLC raised its stake in shares of Internap by 320.6% in the 3rd quarter. Millennium Management LLC now owns 114,300 shares of the information technology services provider’s stock worth $294,000 after buying an additional 87,123 shares in the last quarter. Invesco Ltd. raised its stake in shares of Internap by 51.3% in the 2nd quarter. Invesco Ltd. now owns 426,204 shares of the information technology services provider’s stock worth $1,283,000 after buying an additional 144,457 shares in the last quarter. Finally, Gabelli Funds LLC raised its stake in shares of Internap by 0.4% in the 4th quarter. Gabelli Funds LLC now owns 2,681,612 shares of the information technology services provider’s stock worth $2,950,000 after buying an additional 11,600 shares in the last quarter. 56.74% of the stock is currently owned by institutional investors.

Internap stock traded up $0.02 during mid-day trading on Friday, hitting $0.98. 74,601 shares of the company’s stock traded hands, compared to its average volume of 329,319. The firm has a 50 day moving average price of $1.06 and a 200 day moving average price of $1.78. The company has a market cap of $26.62 million, a PE ratio of -0.29 and a beta of 2.93. Internap has a one year low of $0.88 and a one year high of $6.54.

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.

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