-$0.60 EPS Expected for Internap (INAP) This Quarter

Analysts expect that Internap (NASDAQ:INAP) will report earnings of ($0.60) per share for the current quarter, Zacks reports. Three analysts have made estimates for Internap’s earnings. Internap reported earnings per share of ($0.32) in the same quarter last year, which would indicate a negative year over year growth rate of 87.5%. The company is expected to report its next earnings report on Wednesday, May 9th.

Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Internap.

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Internap (NASDAQ:INAP) last posted its earnings results on Thursday, March 8th. The information technology services provider reported ($0.33) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.60) by $0.27. Internap had a negative return on equity of 271.76% and a negative net margin of 16.15%. The company had revenue of $70.00 million for the quarter, compared to the consensus estimate of $68.48 million. During the same quarter in the previous year, the business earned ($0.11) earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis.

A number of research firms have commented on INAP. BidaskClub upgraded Internap from a “sell” rating to a “hold” rating in a research report on Tuesday, January 30th. Benchmark restated a “buy” rating and issued a $28.00 target price on shares of Internap in a research report on Tuesday, January 30th. Finally, Zacks Investment Research downgraded Internap from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Two equities research 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 stock. Internap presently has a consensus rating of “Buy” and a consensus price target of $24.00.

NASDAQ:INAP opened at $10.94 on Friday. Internap has a 52 week low of $10.34 and a 52 week high of $22.36. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of -496.68. The firm has a market capitalization of $222.07, a price-to-earnings ratio of -7.06 and a beta of 2.02.

Several hedge funds have recently bought and sold shares of the stock. MetLife Investment Advisors LLC purchased a new stake in shares of Internap in the 4th quarter valued at $159,000. Engineers Gate Manager LP raised its holdings in shares of Internap by 54.0% in the 3rd quarter. Engineers Gate Manager LP now owns 76,235 shares of the information technology services provider’s stock valued at $332,000 after buying an additional 26,739 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Internap by 53.3% in the 3rd quarter. Wells Fargo & Company MN now owns 91,411 shares of the information technology services provider’s stock valued at $397,000 after buying an additional 31,789 shares during the period. ACG Wealth purchased a new stake in shares of Internap in the 4th quarter valued at $604,000. Finally, Cornerstone Capital Management Holdings LLC. raised its holdings in shares of Internap by 113.7% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 92,300 shares of the information technology services provider’s stock valued at $401,000 after buying an additional 49,100 shares during the period. Hedge funds and other institutional investors own 86.20% of the company’s stock.

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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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