Internap (INAP) Upgraded to “Hold” by ValuEngine

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Internap (NASDAQ:INAP) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Other equities research analysts have also issued research reports about the stock. Craig Hallum lowered their price target on shares of Internap from $16.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, December 19th. They noted that the move was a valuation call. Jefferies Financial Group started coverage on shares of Internap in a report on Monday, December 10th. They issued a “buy” rating and a $7.50 price target on the stock. Zacks Investment Research raised shares of Internap from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Finally, Raymond James lowered their price target on shares of Internap from $22.00 to $15.00 and set a “strong-buy” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $12.10.

Internap stock traded down $0.56 on Friday, hitting $4.53. The company’s stock had a trading volume of 893,091 shares, compared to its average volume of 308,985. The firm has a market capitalization of $124.76 million, a PE ratio of -2.92 and a beta of 2.91. Internap has a one year low of $3.86 and a one year high of $15.31.

Internap (NASDAQ:INAP) last announced its quarterly earnings results on Thursday, March 14th. The information technology services provider reported ($0.82) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.31). The business had revenue of $78.20 million during the quarter, compared to the consensus estimate of $82.52 million. Internap had a negative net margin of 16.18% and a negative return on equity of 2,471.65%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.35) EPS. As a group, sell-side analysts forecast that Internap will post -2.59 EPS for the current year.

Several large investors have recently modified their holdings of INAP. Geode Capital Management LLC increased its stake in shares of Internap by 30.2% in the 4th quarter. Geode Capital Management LLC now owns 209,103 shares of the information technology services provider’s stock valued at $867,000 after acquiring an additional 48,478 shares during the last quarter. Millennium Management LLC increased its stake in shares of Internap by 14.0% in the 4th quarter. Millennium Management LLC now owns 441,138 shares of the information technology services provider’s stock valued at $1,831,000 after acquiring an additional 54,008 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Internap during the 4th quarter worth approximately $72,000. Bank of America Corp DE increased its stake in Internap by 16.0% during the 4th quarter. Bank of America Corp DE now owns 42,744 shares of the information technology services provider’s stock worth $177,000 after purchasing an additional 5,902 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in Internap by 80.5% during the 4th quarter. Two Sigma Advisers LP now owns 35,599 shares of the information technology services provider’s stock worth $148,000 after purchasing an additional 15,877 shares in the last quarter. Institutional investors own 87.61% of the company’s stock.

Internap Company Profile

Internap Corporation provides Internet infrastructure services. It operates through two business segments, INAP COLO and INAP CLOUD. The INAP COLO segment offers colocation services, including physical space within data centers and related services, such as power, interconnection, environmental controls, monitoring, and security; and Internet protocol (IP) connectivity services comprising its patented Performance IP and content delivery network services, IP routing hardware and software platforms, and Managed Internet Route Optimizer controllers.

Read More: Return on Equity (ROE)

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Internap (NASDAQ:INAP)

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