Internap Corp (INAP) Receives Consensus Rating of “Hold” from Brokerages

Internap Corp (NASDAQ:INAP) has received a consensus rating of “Hold” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, two have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $24.67.

Several research firms have recently issued reports on INAP. ValuEngine cut shares of Internap from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Zacks Investment Research cut shares of Internap from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. BidaskClub cut shares of Internap from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Benchmark reiterated a “buy” rating and set a $24.00 price objective (up previously from $20.00) on shares of Internap in a research report on Monday, September 25th.

Shares of Internap (INAP) traded down $0.32 during trading hours on Tuesday, reaching $15.24. 90,796 shares of the company’s stock traded hands, compared to its average volume of 128,774. The company has a debt-to-equity ratio of 107.36, a current ratio of 0.69 and a quick ratio of 0.69. Internap has a twelve month low of $6.28 and a twelve month high of $22.36. The stock has a market capitalization of $317.69, a P/E ratio of -5.03 and a beta of 1.92.

Internap (NASDAQ:INAP) last issued its quarterly earnings results on Thursday, November 2nd. The information technology services provider reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.16). Internap had a negative net margin of 18.09% and a negative return on equity of 282.42%. The firm had revenue of $68.91 million for the quarter, compared to analysts’ expectations of $69.10 million. During the same period in the prior year, the firm earned ($7.00) EPS. Internap’s revenue for the quarter was down 6.8% compared to the same quarter last year. research analysts expect that Internap will post -2.44 EPS for the current year.

A number of hedge funds have recently bought and sold shares of INAP. Gotham Asset Management LLC boosted its stake in shares of Internap by 173.1% during the second quarter. Gotham Asset Management LLC now owns 27,952 shares of the information technology services provider’s stock valued at $103,000 after purchasing an additional 17,717 shares during the period. Voya Investment Management LLC purchased a new stake in shares of Internap during the second quarter valued at $133,000. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Internap during the second quarter valued at $158,000. Symphony Asset Management LLC purchased a new stake in shares of Internap during the second quarter valued at $159,000. Finally, Nationwide Fund Advisors purchased a new stake in shares of Internap during the second quarter valued at $166,000.

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About Internap

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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