Internap (INAP) Rating Increased to Hold at BidaskClub

Internap (NASDAQ:INAP) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

INAP has been the subject of a number of other reports. Zacks Investment Research raised Internap from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Wednesday, October 4th. ValuEngine raised Internap from a “sell” rating to a “hold” rating in a research report on Tuesday, November 21st. Finally, Benchmark reaffirmed a “buy” rating and set a $24.00 target price (up from $20.00) on shares of Internap in a research report on Monday, September 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $23.25.

Internap (INAP) opened at $15.67 on Friday. Internap has a 1-year low of $3.56 and a 1-year high of $22.36. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 107.36.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Gotham Asset Management LLC raised its position in Internap by 173.1% during the 2nd 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 in the last quarter. Voya Investment Management LLC bought a new stake in Internap during the 2nd quarter valued at $133,000. Cornerstone Capital Management Holdings LLC. bought a new stake in Internap during the 2nd quarter valued at $158,000. Symphony Asset Management LLC bought a new stake in Internap during the 2nd quarter valued at $159,000. Finally, Brighton Jones LLC bought a new position in shares of Internap in the 2nd quarter worth $160,000.

COPYRIGHT VIOLATION WARNING: This story was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this story on another publication, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The correct version of this story can be read at https://sportsperspectives.com/2017/12/18/internap-inap-rating-increased-to-hold-at-bidaskclub.html.

Internap Company Profile

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.

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.

Latest News

Leave a Reply