Zacks Investment Research cut shares of Internap (NASDAQ:INAP) from a hold rating to a sell rating in a research note released on Saturday.
According to Zacks, “InterNAP Network Services Corp is a provider of high performance Internet connectivity services targeted at businesses seeking to maximize the performance of mission-critical Internet-based applications. Customers connected to one of their service points have their data optimally routed to and from destinations on the Internet using their overlay network, which analyzes the traffic situation on the multiplicity of networks that comprise the Internet and delivers mission-critical information and communications faster and more reliably. “
Several other research firms also recently weighed in on INAP. BidaskClub downgraded Internap from a hold rating to a sell rating in a report on Thursday, December 7th. ValuEngine downgraded Internap from a hold rating to a sell rating in a report on Friday, December 1st. Finally, Benchmark reissued a buy rating and issued a $28.00 price objective on shares of Internap in a report on Tuesday, January 30th. Three analysts have rated the stock with a sell rating, two have issued a buy rating and two have given a strong buy rating to the company. Internap currently has an average rating of Hold and a consensus price target of $24.25.
Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of Internap by 314.0% in the second quarter. Bank of New York Mellon Corp now owns 213,186 shares of the information technology services provider’s stock valued at $783,000 after acquiring an additional 161,694 shares during the period. EAM Investors LLC boosted its holdings in shares of Internap by 182.9% in the third quarter. EAM Investors LLC now owns 1,161,840 shares of the information technology services provider’s stock valued at $5,054,000 after acquiring an additional 751,131 shares during the period. State Street Corp boosted its holdings in shares of Internap by 2,861.4% in the second quarter. State Street Corp now owns 1,224,423 shares of the information technology services provider’s stock valued at $4,493,000 after acquiring an additional 1,183,077 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of Internap by 113.7% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 92,300 shares of the information technology services provider’s stock valued at $401,000 after acquiring an additional 49,100 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Internap by 629.0% in the third quarter. JPMorgan Chase & Co. now owns 407,820 shares of the information technology services provider’s stock valued at $1,790,000 after acquiring an additional 351,880 shares during the period.
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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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